Range Resources Corporation Q2 2025 Financial Results

Range Resources Corporation, a leading U.S. independent natural gas and NGL producer with operations focused in the Appalachian Basin, has released its financial results for the second quarter of 2025. The company reported strong financial performance, operational efficiencies, and strategic initiatives aimed at enhancing shareholder value.

Financial Highlights

For the second quarter of 2025, Range Resources reported GAAP revenues and other income totaling $856 million, a significant increase from $530 million in the same period last year. The company achieved a GAAP net income of $238 million, or $0.99 per diluted share, compared to $28.7 million, or $0.12 per diluted share, in the second quarter of 2024. Cash flow from operations before changes in working capital was $301 million, and adjusted net income was $158 million, or $0.66 per diluted share.

Business and Operational Highlights

Range Resources reported production averaging 2.20 Bcfe per day, with approximately 68% of this being natural gas. The realized price, including hedges, was $3.49 per mcfe. The company also improved its 2025 production guidance and increased expected lateral footage in year-end inventory while lowering 2025 capital due to operational efficiencies.

During the quarter, Range drilled approximately 285,000 lateral feet across 20 wells and turned to sales approximately 156,000 lateral feet across 12 wells. The company is on track to exit 2025 with over 400,000 lateral feet of growth inventory to support future development.

Strategic Initiatives and Corporate Developments

Range Resources repurchased $53 million of shares and paid $21 million in dividends during the second quarter. The company reduced its net debt to $1.2 billion. Additionally, Range paid off the remaining principal balance of its 4.875% senior notes due 2025 at par by utilizing cash on hand and borrowing on the bank credit facility.

Capital expenditures for the second quarter were $154 million, approximately 23% of the annual 2025 budget. Year-to-date capital investments of $301 million are approximately $10 million below plan due to operational efficiencies, leading to a revised 2025 capital guide of $650 million to $680 million.

Management's Perspective

Dennis Degner, CEO of Range Resources, commented, "This year is off to a great start with another quarter of efficiency gains and consistent well performance driving strong free cash flow and building operational momentum. Our strong financial results supported $74 million in share repurchases and dividends, while lowering net debt to $1.2 billion. We believe Range is well positioned to benefit as in-basin demand opportunities materialize alongside a global call on natural gas."

Future Outlook

Range Resources updated its 2025 guidance, with an all-in capital budget now set at $650 million to $680 million, improved from prior guidance of $650 million to $690 million. Annual production is now expected to be approximately 2.225 Bcfe per day, updated from prior guidance of ~2.2 Bcfe per day. Liquids are expected to be over 30% of production.

The company also provided updated full-year 2025 expense guidance, with direct operating expenses expected to be $0.12 to $0.13 per mcfe, and transportation, gathering, processing, and compression expenses expected to be $1.50 to $1.55 per mcfe.

SEC Filing: RANGE RESOURCES CORP [ RRC ] - 8-K - Jul. 23, 2025