MR - Range Resources - Over Levered Depressed But Making Progress

This is a Z4 Research Requested Cheat Sheet Update. You can find more about RRC and other names mentioned herein at Zman's Energy Brain ~ oil, gas, stocks, etc...

The 3Q19 results were covered on our site. In brief, the quarter was OK (volumes were slightly light, pricing was OK with better than expected NGL prices (unlike many) and operating costs improved). The company continues to hold in roughly the 30% liquids range (just 3% of total hydrocarbon are oil with the balance of liquids as NGLs).

Capital Costs

• They reduced capex by $20 mm

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