Range Resources (RRC) Tops Q4 EPS by 6c

Range Resources (NYSE: RRC) reported Q4 EPS of $0.22, $0.06 better than the analyst estimate of $0.16. Revenue for the quarter came in at $651.1 million versus the consensus estimate of $626.98 million.

Guidance – 2018

Production per day Guidance

Production for the first quarter of 2018 is expected to be approximately 2.18 Bcfe per day.

Production for the full year 2018 is expected to average approximately 2.23 Bcfe per day. This equates to a year-over-year growth rate of approximately 11%.

1Q 2018 Expense Guidance

Direct operating expense: $0.18 - $0.19 per mcfe
Transportation, gathering, processing and compression expense: $1.04 - $1.08 per mcfe
Production tax expense: $0.05 - $0.07 per mcfe
Exploration expense: $7.0 - $10.0 million
Unproved property impairment expense: $13.0 - $15.0 million
G&A expense: $0.21 - $0.23 per mcfe
Interest expense: $0.26 - $0.28 per mcfe
DD&A expense: $0.82 - $0.85 per mcfe
Net brokered gas marketing expense: ~$2.0 million

1Q 2018 Natural gas price differentials NYMEX plus $0.11

Based on current market pricing indications, Range expects to receive the following pre-hedge differentials for its production in 2018.

Natural Gas: NYMEX minus $0.15
Natural Gas Liquids (including ethane): 28% - 32% of WTI
Oil/Condensate: WTI minus $5.00 to 6.00

For earnings history and earnings-related data on Range Resources (RRC) click here.

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