Range Resources profit, production up ~20% Y/Y

Range Resources (NYSE:RRC) is little changed AH after reporting Q2 earnings rose 19% on a 21% production increase.

Total revenue and other income rose 14% Y/Y to $765.5M in Q2, and sales of natural gas, natural gas liquids and oil increased 9% to $477.5M.

Production volumes reached a record high, averaging 1.105B cfe/day, up 21% Y/Y, while unit costs declined 11% Y/Y to $0.41/Mcfe.

Natural gas, NGL and oil price realizations, including the impact of hedging and derivative settlements, averaged $4.49/Mcfe, down 11% from $5.02 a year earlier.

Expects FY 2014 production growth of 25%, the high end of its prior forecast of 20%-25% growth; Q3 production is expected at ~1.2B cfe/day and Q4 is seen at ~1.35B cfe/day, both with 30% liquids.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs