Range Resources RRC Q1 2026 Earnings Transcript

Image source: The Motley Fool.

Wednesday, April 22, 2026 astatine 9 a.m. ET

• Chief Executive Officer — Dennis Degner

• Chief Financial Officer — Mark Scucchi

• Vice President, Marketing — Alan Engberg

Need a punctuation from a Motley Fool analyst? Email [email protected]

Dennis Degner: Thanks, Laith, and acknowledgment to each of you for joining the telephone today. Range is disconnected to a large commencement successful 2026. We continued dependable operational advancement successful the archetypal 4th towards our multiyear program that was launched implicit a twelvemonth ago. The archetypal 4th besides saw beardown realized pricing for Range arsenic wintertime upwind drove earthy state prices higher, portion planetary NGL prices spiked successful March pursuing proviso disruptions successful the Middle East. Range's strategical selling portfolio paired with safe, dependable operations, allowed Range to seizure this opportunity, starring to escaped currency travel for the 4th of astir $400 million. This escaped currency travel supported an accrued dividend, further stock repurchases and the strongest equilibrium expanse and institution history.

Looking astatine the operational results for the archetypal quarter, Production came successful astatine 2.2 Bcf equivalent per day. Range expects accumulation to summation somewhat successful the 2nd 4th earlier jumping meaningfully higher astatine the midpoint of the twelvemonth arsenic state processing and related infrastructure is enactment into service. This volition propulsion accumulation to 2.5 Bcf equivalent per time by year-end, each successful enactment with our erstwhile guidance. Capital for the 4th came successful astatine $139 cardinal arsenic Range was moving 1 rig and 1 completions crew. Completion spending volition measurement up successful the 2nd 4th arsenic we adhd a spot completion unit to statesman moving done the drilled uncompleted inventory we've built up implicit the past 24 months.

As a result, 2nd and 3rd 4th are expected to beryllium the precocious constituent for superior with this operational cadence placing america squarely wrong our erstwhile stated superior guidance. During the archetypal quarter, our azygous horizontal rig drilled astir 143,000 lateral feet. Annualized, this is good implicit 0.5 cardinal lateral feet by a azygous drilling rig. The squad besides had 8 days wherever they drilled implicit a mile successful the horizontal, with 2 of those 24-hour periods exceeding 9,400 feet. This level of operational ratio advancement continues to bespeak the team's hard enactment and thrust to present connected peer-leading drilling and completion outgo per foot.

For completions, Range's electrical fracturing fleet acceptable a programme grounds by completing a full of 874 stages during the quarter. Annualized, this is approaching implicit 700,000 lateral feet being completed successful a twelvemonth by a azygous crew. On aggregate days, the squad reached a grounds level of 17 stages per day. And contempt challenging upwind conditions, the squad achieved a caller grounds during wintertime operations averaging implicit 10 stages per day. Achieving this level of ratio takes captious coordination betwixt completions and h2o operations arsenic we delivered up to 120,000 barrels of h2o per time for those wells. This is rather an accomplishment for our team, and it is simply a cardinal contributor to Range's peer-leading superior efficiency.