Range Resources发布2026年二季度业绩，现金流和回购稳健但属于常规财报披露

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Press Release Details

Range Announces Second Quarter 2026 Results

Jul 21, 2026 at 4:18 PM EDT

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FORT WORTH, Texas , July 21, 2026 (GLOBE NEWSWIRE) -- RESOURCES CORPORATION (NYSE: RRC)  today announced its second quarter 2026 financial results.

Second Quarter 2026 Highlights –

Cash flow from operating activities of $235 million

Cash flow from operations, before working capital changes, of $333 million

Repurchased $78 million of shares and paid $24 million in dividends

Realized price, including hedges, was $3.53 per mcfe – a $0.64 premium versus NYMEX natural gas

Pre-hedge NGL realizations of $29.10 per barrel, a premium of $3.49 over the Mont Belvieu equivalent

Natural gas differential, including basis hedging, of ( $0.47 ) per mcf to NYMEX

Production averaged 2.30 Bcfe per day, approximately 67% natural gas

Record completion efficiency with 1,900 stages completed by two crews and single-day record of 22 hours pumping

Record drilling efficiency of nearly two miles drilled in a single day

Capital spending was $222 million, approximately 33% of the annual 2026 budget

Commenting on the results, Dennis Degner , the Company’s CEO said, “Range’s year-to-date results reflect continued progress on our multi-year growth plan, which was supported by record drilling and completion efficiencies in the most recent quarter. Range’s strategic access to international markets drove a record NGL premium for the quarter, bolstering margins. The resulting strong free cash flow funded shareholder returns through dividends and share repurchases while advancing our operational momentum.

Looking beyond our announced development plans through 2027, we expect steadily increasing demand for natural gas will require additional supply from Appalachia, as the lowest-cost, longest duration natural gas basin in the United States . Range’s strong financial position and operational momentum provide us with the flexibility to shape our capital reinvestment plans to meet this demand as it materializes, while prioritizing returns of capital to shareholders. We believe Range’s extensive Marcellus inventory, diverse marketing access and advantaged full-cycle cost structure provide the necessary foundation for supplying both domestic and international energy demand growth while consistently delivering returns to shareholders for decades to come.”

Financial Discussion

Except for generally accepted accounting principles (“GAAP”) reported amounts, specific expense categories exclude non-cash impairments, unrealized mark-to-market adjustment on derivatives, non-cash stock compensation and other items shown separately on the attached tables. “Unit costs” as used in this release are composed of direct operating, transportation, gathering, processing and compression, taxes other than income, general and administrative, interest and depletion, depreciation and amortization costs divided by production. See “Non-GAAP Financial Measures” for a definition of non-GAAP financial measures and the accompanying tables that reconcile each non-GAAP measure to its most directly comparable GAAP financial measure.

Second Quarter 2026 Results

GAAP revenues and other income for second quarter 2026 totaled $834 million , GAAP net cash provided from operating activities (including changes in working capital) was $235 million , and GAAP net income was $195 million ( $0.83 per diluted share). Second quarter earnings results include a $74 million mark-to-market derivative gain due to decreases in commodity prices.

Cash flow from operations before changes in working capital, a non-GAAP measure, was $333 million . Adjusted net income comparable to analysts’ estimates, a non-GAAP measure, was $186 million ( $0.79 per diluted share) in second quarter 2026.

The following table details Range’s second quarter 2026 unit costs per mcfe (a) :

Expenses

2Q 2026
(per mcfe)

2Q 2025
(per mcfe)

Increase
(Decrease)

Direct operating (a)

$0.13

$0.11

18%

Transportation, gathering,
processing and compression (a)

1.52

1.52

0%

Taxes other than income

0.03

0.04

(25)%

General and administrative (a)

0.18

0.16

13%

Interest expense (a)

0.07

0.13

(46)%

Total cash unit costs (b)

1.92

1.97

(3)%

Depletion, depreciation and
amortization (DD&A)

0.45

0.46

(2)%

Total unit costs plus DD&A (b)

$ 2.37

$ 2.43

(2)%

(a) Excludes stock-based compensation, one-time settlements, and amortization of debt issuance costs.

(b) Totals may not add due to rounding.

The following table details Range’s average production and realized pricing for second quarter 2026 (a) :

2Q26 Production & Realized Pricing

Natural Gas
(mcf)

Oil
(bbl)

NGLs
(bbl)

Natural Gas
Equivalent (mcfe)

Net production per day
1,548,871

6,475

118,113

2,296,399

Average NYMEX price
$2.89

$93.58

$25.61

Differential, including basis hedging
(0.47)

(9.62)

3.49

Realized prices before NYMEX hedges
2.42

83.96

29.10

3.37

Settled NYMEX hedges
0.36

(17.50)

(0.67)

0.16

Average realized prices after hedges
$ 2.79

$ 66.45

$ 28.44

$ 3.53

(a) Totals may not add due to rounding.

Second quarter 2026 natural gas, NGLs and oil price realizations (including the impact of cash-settled hedges and derivative settlements) averaged $3.53 per mcfe.

The average natural gas price, including the impact of basis hedging, was $2.42 per mcf, or a ( $0.47 ) per mcf differential to NYMEX. Range is improving its 2026 natural gas differential to average ( $0.35 ) to ( $0.40 ) relative to NYMEX.

Range’s pre-hedge NGL price during the quarter was $29.10 per barrel, approximately $3.49 above the Mont Belvieu weighted equivalent. Range is improving its full-year NGL price guidance to a range of +$2.00 to +$2.50 relative to a Mont Belvieu equivalent barrel.

Crude oil and condensate price realizations, before realized hedges, averaged $83.96 per barrel, or $9.62 below WTI (West Texas Intermediate). Range is improving its 2026 condensate differential to average ( $10.00 ) to ( $12.00 ) relative to WTI.

Financial Position and Repurchase Activity

As of June 30, 2026 , Range had net debt outstanding of approximately $881 million , consisting of $500 million of senior notes and $381 million on the credit facility.

During the quarter, Range repurchased 2,000,000 shares at an average price of approximately $39.18 per share. As of June 30, 2026 , the Company had $1.4 billion of availability under the share repurchase program.

Capital Expenditures and Operational Activity

Second quarter 2026 drilling and completion expenditures were $204 million . In addition, during the quarter, approximately $8 million was invested in acreage, and $10 million was invested in infrastructure, pneumatic upgrades, and other investments. Second quarter capital spending represented approximately 33% of Range’s total capital budget in 2026.

During the quarter, Range drilled ~190,000 lateral feet across 11 wells, while turning to sales ~300,000 feet across 21 wells. The table below summarizes expected 2026 activity plans regarding the number of wells to sales in each area.

Wells TIL
1H 2026

Remaining
2026

Planned Wells
TIL in 2026

Liquids Rich
31

19

50

Dry Gas
7

11

18

Total Appalachia
38

30

68

Guidance – 2026

Capital & Production Guidance

Range’s 2026 all-in capital budget is $650 million - $700 million . Annual production is expected to be approximately 2.35 - 2.40 Bcfe per day in 2026. Liquids are expected to be over 30% of production.

Full Year 2026 Expense Guidance

Direct operating expense:
$0.12 - $0.13 per mcfe

Transportation, gathering, processing and compression expense (GP&T):
$1.55 - $1.60 per mcfe

Taxes other than income:
$0.03 - $0.04 per mcfe

Exploration expense:
$22 - $28 million

G&A expense:
$0.17 - $0.18 per mcfe

Net Interest expense:
$0.07 - $0.09 per mcfe

DD&A expense:
$0.45 - $0.46 per mcfe

Net brokered gas marketing expense:
$8 - $12 million

Updated Full Year 2026 Price Guidance

Based on recent ma