Range Resources (RRC) PT Raised to $60 at KLR Group; Reiterates Buy

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Go back to Range Resources (RRC) PT Raised to $60 at KLR Group; Reiterates Buy

Range Reports 2016 Earnings, Announces 2017 Capital Plans

February 22, 2017 5:15 PM EST

FORT WORTH, Texas, Feb. 22, 2017 (GLOBE NEWSWIRE) -- RANGE RESOURCES CORPORATION (NYSE: RRC) today announced its 2016 financial results and 2017 capital spending plan. 

Highlights

Record average daily production of 1.854 Bcfe during the fourth quarter2017 capital budget set at $1.15 billion, projected to provide 33-35% year-over-year growth in 2017 and approximately 20% organic growth in 2018North Louisiana well costs reduced to $7.7 million per well from $8.7 million previouslyFourth quarter 2016 unhedged cash margins improved by over four times to $0.97 per mcfe, compared to $0.22 per mcfe in fourth... More