HighGravityData
Companies / Range Resources / Filing

Range Resources — Apr 22, 2025 release

Fiscal 2025 first-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000950170-25-057068
Open on SEC.gov ↗
Showing in the filing
Share repurchase program availability
“approximately $949 million”
Period
No period stated
Measure
Declared action
Source
Prose
All guidance in this release · 25
SW PA Dry for FY2025
“5”
NE PA Dry for FY2025
“4”
Natural gas differential to NYMEX for FY2025
“($0.40) to ($0.48) relative to NYMEX”
NGL price relative to Mont Belvieu for FY2025
“+$0.25 to +$1.25 relative to a Mont Belvieu equivalent barrel”
Condensate differential for FY2025
“($10.00) to ($15.00)”
Condensate differential to NYMEX for FY2025
“($10.00) to ($15.00) relative to NYMEX”
Share repurchase program availability
“approximately $949 million”
Exit 2025 surplus lateral feet inventory for FY2025
“~400,000 lateral feet of surplus inventory”
SW PA Wet for FY2025
“19”
Total Wells for FY2025
“36”
Total Wells - 2025 Planned TIL for FY2025
“46”
All-in capital budget for FY2025
“$650 million - $690 million”
Annual production for FY2025
“approximately 2.2 Bcfe per day”
Liquids percentage of production for FY2025
“over 30%”
Direct operating expense for FY2025
“$0.12 - $0.14 per mcfe”
Transportation, gathering, processing and co… for FY2025
“$1.50 - $1.55 per mcfe”
Taxes other than income for FY2025
“$0.03 - $0.04 per mcfe”
Exploration expense for FY2025
“$24 - $28 million”
G&A expense for FY2025
“$0.17 - $0.19 per mcfe”
Net Interest expense for FY2025
“$0.12 - $0.13 per mcfe”
DD&A expense for FY2025
“$0.45 - $0.46 per mcfe”
Net brokered gas marketing expense for FY2025
“$8 - $12 million”
Natural Gas for FY2025
“NYMEX minus $0.40 to $0.48”
Natural Gas Liquids for FY2025
“MB plus $0.25 to $1.25 per barrel”
Oil/Condensate for FY2025
“WTI minus $10.00 to $15.00”
Exhibit 99.1 · the passage around this item
… earlier in the release
During the first quarter, Range repurchased in the open market $2.2 million principal amount of 4.875% senior notes due 2025 at a discount.   During the quarter, Range repurchased 1,826,562 shares at an average price of approximately $36.97 per share. As of March 31, 2025, the Company had approximately $949 million of availability under the share repurchase program.     Capital Expenditures and Operational Activity   First quarter 2025 drilling and completion expenditures were $130 million. In addition, during the quarter, approximately $16 million was invested in acreage, and $1 million was invested in infrastructure and other investments. First quarter capital spending represented approximately 22% of Range’s total capital budget in 2025.   During the quarter, Range drilled ~250,000 lateral feet across 18 wells, while turning to sales ~132,000 lateral feet across 10 wells. The added inventory of drilled but not completed laterals is in line with Range’s plans to exit 2025 with ~400,000 lateral feet of surplus inventory to support future development.   The table below summarizes expected 2025 activity plans regarding the number of wells to sales in each area.         Wells TIL 1Q 2025   Remaining 2025   2025 Planned TIL SW PA Super-Rich 0 8   8 SW PA Wet 10 19   29 SW PA Dry 0 5   5 NE PA Dry     0   4   4 Total Wells 10 36   46     Marketing and Mi
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.