Range Resources Corp (STU:RAX)
€ 28.21 -0.42 (-1.47%) Market Cap: 6.92 Bil Enterprise Value: 8.35 Bil PE Ratio: 15.42 PB Ratio: 1.93 GF Score: 56/100
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Q2 2024 Range Resources Corp Earnings Call Transcript

Jul 24, 2024 / 01:00PM GMT
Release Date Price: €30.97 (+1.04%)

Key Points

Positve
  • Range Resources Corp (RRC) successfully executed its second-quarter plan, maintaining operational improvements and generating free cash flow.
  • The company boasts low capital intensity, driven by class-leading drilling and completion costs, shallow base decline, and a talented team.
  • Liquids revenue provided a significant uplift to natural gas prices, with NGL price realizations offering a substantial premium relative to Henry Hub natural gas.
  • Range Resources Corp (RRC) has a vast inventory of derisked high-quality Marcellus wells, enabling long-term growth in free cash flow per share.
  • The company has a flexible transportation portfolio that allows access to premium export markets, enhancing NGL price realizations.
Negative
  • Second-quarter liquids production was slightly lower than Q1 due to a delayed propane cargo.
  • The company faces potential challenges with natural gas pricing if LNG facilities experience delays.
  • There is ongoing uncertainty in the regulatory environment, which could impact future operations and expansions.
  • Range Resources Corp (RRC) has significant bond maturities in the next three to five years, requiring careful balance sheet management.
  • The company’s ability to maintain or improve cost efficiencies may be challenged by fluctuating commodity prices and service costs.
Operator

Welcome to the Range Resources Second Quarter 2024 Earnings Conference Call. (Operator Instructions)

Statements made during this conference call that are not historical facts are forward-looking statements. Such statements are subject to risks and uncertainties, which could cause actual results to differ materially from those in the forward-looking statements. After the speaker's remarks, there will be a question-and-answer period.

At this time, I would like to turn the call over to Mr. Laith Sando, Vice President, Investor Relations at Range Resources. Please go ahead, sir.

Laith Sando
Range Resources Corp - Vice President, Investor Relations

Thank you, operator. Good morning, everyone, and thank you for joining Range's Second Quarter 2024 Earnings Call. The speakers on today's call are Dennis Degner, Chief Executive Officer; and Mark Scucchi, Chief Financial Officer.

Hopefully, you've had a chance to review the press release and updated investor presentation that we've posted on our website. We may reference certain slides on the

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