
Range Announces First Quarter 2023 Results
FORT WORTH, Texas, April 26, 2023 (GLOBE NEWSWIRE) — RANGE RESOURCES CORPORATION (NYSE: RRC) today announced its first quarter 2023 financial results.
First Quarter 2023 Highlights –
Realizations before NYMEX hedges of $5.63 per mcfe, approximately $0.74 above NYMEX natural gas
Natural gas differentials, including basis hedging, averaged a $0.03 premium per mcf above NYMEX
Pre-hedge NGL realization of $40.03 per barrel, a premium of $0.74 per barrel above Mont Belvieu equivalent
Production averaged 2,071 Mmcfe per day, approximately 70% natural gas
First quarter capital spending was $117 million, approximately 25% of the 2023 budget
Reduced outstanding debt by $350 million following redemption of 2026 senior notes in January
In March, repurchased 600,000 shares at an average of $27.
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