Range Resources Corporation (RRC): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de la producción de energía, Range Resources Corporation (RRC) surge como una potencia estratégica, revolucionando la exploración de gas natural a través de su innovador lienzo de modelo de negocio. Al aprovechar las tecnologías de vanguardia en la región de esquisto de Marcellus y mantener una cartera robusta de recursos y asociaciones, RRC transforma los paradigmas de energía tradicionales con un enfoque único que equilibra la destreza tecnológica, la conciencia ambiental y la adaptabilidad del mercado. Su estrategia integral no solo garantiza un suministro de gas natural nacional confiable, sino que también posiciona a la compañía a la vanguardia del desarrollo de energía sostenible, lo que hace que su modelo comercial sea un estudio convincente en la gestión moderna de recursos.

Range Resources Corporation (RRC) - Modelo de negocio: asociaciones clave

Proveedores de infraestructura intermedia para el transporte de gas natural

Los recursos de rango colaboran con varios socios clave de infraestructura Midstream:

Pareja	Capacidad de transporte	Valor anual del contrato
EQT Midstream Partners	750 mmcf/d	$ 127.5 millones
Compañías de Williams	500 MMCF/D	$ 85.3 millones
Markwest Energy Partners	450 mmcf/d	$ 76.2 millones

Fabricantes de equipos de petróleo y gas

Las asociaciones de fabricación de equipos clave incluyen:

• Schlumberger Limited - Tecnología de perforación
• Halliburton - Equipo de fractura hidráulica
• Baker Hughes - Sistemas de finalización de pozos

Propietarios de derechos de tierra y minerales

Range Resources mantiene asociaciones estratégicas con:

Región	Acres bajo arrendamiento	Costo de arrendamiento por acre
Marcellus lutita	1,020,000	$3,250
Cuenca del permisa	285,000	$4,500

Empresas de consultoría ambiental e ingeniería

Los recursos de rango se involucran con socios ambientales especializados:

• Gestión de recursos ambientales (ERM)
• Tetra Tech Environmental Consulting
• AECOM Servicios ambientales

Agencias reguladoras del gobierno local y estatal

Detalles de cumplimiento de la asociación regulatoria:

Agencia	Interacciones regulatorias	Gasto de cumplimiento
Pensilvania Dep	52 interacciones de permiso	$ 3.7 millones
Comisión ferroviaria de Texas	38 interacciones de permiso	$ 2.9 millones

Range Resources Corporation (RRC) - Modelo de negocio: actividades clave

Exploración y producción de gas natural

Range Resources funciona principalmente en la cuenca de los Apalaches, con una producción total de 2.400 millones de pies cúbicos de equivalente de gas natural por día a partir del cuarto trimestre de 2023. La compañía posee aproximadamente 1.2 millones de acres netos en Pensilvania, Ohio y Virginia Occidental.

Métrica de producción	2023 datos
Producción diaria de gas natural	2.4 bcfe/día
Superficie de red total	1.2 millones de acres
Reservas probadas	12.3 billones de pies cúbicos equivalentes

Perforación horizontal en la región de esquisto de Marcellus

Range Resources ha sido pionero en el desarrollo de esquisto de Marcellus, con las siguientes métricas clave:

• Longitud lateral promedio de 12,500 pies
• Eficiencia de perforación de 14-16 días por pozo
• La producción de esquisto de Marcellus representa el 85% de la producción total de la compañía

Técnicas avanzadas de fracturación hidráulica

Tecnología de fracturación	Especificación
Potrupante utilizado por pozo	5-7 millones de libras
Tasa de reciclaje de agua	65-70%
Productividad promedio de pozos	1.200-1,500 MCFE/día

Optimización de activos y gestión de cartera

Los recursos de rango mantienen un enfoque estratégico para la gestión de activos con las siguientes características:

• Gasto de capital de $ 1.1 mil millones en 2023
• Reducción de la deuda de $ 300 millones en 2023
• Costo operativo de $ 0.75 por mil pies cúbicos

Estrategias de desarrollo de energía sostenible

Métrica de sostenibilidad	2023 rendimiento
Reducción de la emisión de metano	Reducción del 35% desde 2015
Inversión de energía renovable	$ 50 millones asignados
Intensidad de carbono	0.05 toneladas métricas CO2E por boe

Range Resources Corporation (RRC) - Modelo de negocio: recursos clave

Reservas de gas natural

Al 31 de diciembre de 2023, Range Resources Corporation posee 1.54 billones de pies cúbicos equivalentes (TCFE) de reservas probadas de gas natural, ubicados principalmente en la región de esquisto de Marcellus de Appalachia.

Categoría de reserva	Volumen (TCFE)	Porcentaje
Reservas desarrolladas probadas	0.92	59.7%
Reservas no desarrolladas probadas	0.62	40.3%

Recursos tecnológicos

Range Resources utiliza tecnologías avanzadas de perforación horizontal y fractura hidráulica en su cartera operativa.

• Longitud lateral horizontal promedio: 10,500 pies
• Tasa de eficiencia de perforación: 2.5 pozos por almohadilla de perforación
• Técnicas de fractura patentadas con una capacidad de reciclaje de agua del 99.5%

Capital humano

A partir de 2024, Range Resources emplea 620 empleados a tiempo completo, con experiencia especializada en ingeniería geológica y exploración del petróleo.

Categoría de empleado	Número de empleados	Porcentaje
Personal técnico	320	51.6%
Personal operativo	210	33.9%
Personal administrativo	90	14.5%

Recursos financieros

Métricas financieras a partir del cuarto trimestre 2023:

• Activos totales: $ 6.2 mil millones
• Efectivo y equivalentes de efectivo: $ 372 millones
• Deuda a largo plazo: $ 2.8 mil millones
• Capacidad de la facilidad de crédito: $ 1.5 mil millones

Datos propietarios y propiedad intelectual

Los recursos de rango mantienen 47 patentes activas Relacionado con las tecnologías de perforación y las técnicas de mapeo geológico.

Categoría de patente	Número de patentes
Tecnologías de perforación	22
Mapeo geológico	15
Técnicas de extracción	10

Range Resources Corporation (RRC) - Modelo de negocio: propuestas de valor

Suministro confiable de gas natural doméstico

Los recursos de rango produjeron 2.100 millones de pies cúbicos de gas natural por día en 2023. La producción anual total alcanzó los 767 mil millones de pies cúbicos. La producción neta diaria promedio fue de 2,100 millones de pies cúbicos equivalentes.

Métrica de producción	2023 datos
Producción diaria de gas	2.100 millones de pies cúbicos
Producción anual de gas	767 mil millones de pies cúbicos

Producción de bajo costo en Marcellus Shale

Los costos de producción en Marcellus Shale promediaron $ 1.47 por mil pies cúbicos en 2023. Los gastos operativos fueron $ 0.38 por mil pies cúbicos equivalentes.

• Costos operativos de Marcellus Shale: $ 1.47/MCF
• Gastos operativos totales: $ 0.38/MCFE

Compromiso ambiental y reducción de emisiones

Los recursos de rango redujeron las emisiones de metano en un 67% desde la línea de base de 2015. La intensidad del carbono disminuyó a 0.048 toneladas métricas CO2 equivalente por barril de aceite equivalente.

Métrica ambiental	2023 rendimiento
Reducción de emisiones de metano	67%
Intensidad de carbono	0.048 TCO2E/BOE

Innovación tecnológica en métodos de extracción

Invirtió $ 124 millones en investigación y desarrollo tecnológico en 2023. Implementó técnicas avanzadas de perforación horizontal con longitudes laterales de 10,000 pies.

Cartera de energía flexible adaptable a las demandas del mercado

Los recursos de rango mantuvieron una cartera diversificada con 85% de gas natural y 15% de producción de líquidos de gas natural. Total de reservas probadas de 14.4 billones de pies cúbicos equivalentes a diciembre de 2023.

Composición de cartera	Porcentaje
Gas natural	85%
Líquidos de gas natural	15%
Reservas totales probadas	14.4 TCFE

Range Resources Corporation (RRC) - Modelo de negocios: relaciones con los clientes

Contratos de suministro a largo plazo con servicios públicos

Range Resources mantiene 15 contratos activos de suministro de gas natural a largo plazo con servicios públicos regionales en Pensilvania y Ohio. La duración promedio del contrato es de 7,2 años, con un valor total del contrato estimado en $ 425 millones anuales.

Socio de servicios públicos	Duración del contrato	Volumen anual (MMCF)
FirstEnergy Corp	8 años	125,000
Energía de dominio	6 años	95,000
Corporación EQT	7 años	85,000

Compromiso directo con los consumidores de energía industrial

Range Resources atiende a 42 clientes industriales en los sectores de fabricación de los Apalaches, con un valor de contrato anual total de $ 312 millones.

• Contratos del sector de fabricación: 65% de la base de clientes industriales
• Contratos de la industria química: 22% de la base de clientes industriales
• Valor promedio del contrato: $ 7.4 millones por cliente

Plataformas digitales para la comunicación del cliente

Range Resources opera un portal integral de clientes digitales Con 18.500 usuarios registrados, procesando el 92% de las transacciones de facturación y comunicación electrónicamente.

Métricas de plataforma digital	2024 datos
Usuarios registrados	18,500
Tasa de transacción en línea	92%
Visitas promedio al portal mensual	45,000

Informes de desempeño ambiental transparente

Range Resources publica informes trimestrales de sostenibilidad, que cubren las emisiones, el uso del agua y el cumplimiento ambiental con la calificación de transparencia del 98.7% de auditores independientes.

• Informes trimestrales de sostenibilidad publicados
• Cumplimiento de auditoría ambiental de terceros: 98.7%
• Objetivos de reducción de emisiones rastreados públicamente

Estrategias proactivas de participación de las partes interesadas

Range Resources realiza 24 eventos de participación comunitaria anualmente, que involucran a las partes interesadas locales en las regiones operativas en Pensilvania y Ohio.

Actividad de participación de las partes interesadas	Frecuencia anual
Ayuntamientos comunitarios	12
Talleres ambientales	6
Presentaciones de impacto económico	6

Range Resources Corporation (RRC) - Modelo de negocio: canales

Ventas directas a los mercados de energía

Range Resources vende gas natural directamente a:

• Utilidades eléctricos
• Clientes industriales
• Empresas de distribución locales

Segmento de mercado	Volumen de ventas anual (MMCF/D)	Duración promedio del contrato
Utilidades eléctricos	425	3-5 años
Clientes industriales	275	2-4 años
Empresas de distribución locales	350	1-3 años

Plataformas de comercio de gas natural al por mayor

Range Resources utiliza las principales plataformas comerciales para transacciones mayoristas:

• Nymex Henry Hub
• Intercontinental Exchange (ICE)
• Grupo CME

Plataforma comercial	Volumen de comercio diario (MMBTU)	Cuota de mercado
Nymex Henry Hub	1,250,000	35%
Intercambio intercontinental	850,000	25%
Grupo CME	650,000	18%

Portales de comunicación digital y servicio al cliente

Los canales digitales incluyen:

• Portal de clientes basado en la web
• Aplicación móvil
• Sistema de soporte en línea 24/7

Conferencias de la industria y eventos del sector energético

Tipo de evento	Participación anual	Oportunidades de redes
Conferencia Nacional de Energía	3	Más de 125 contactos de la industria
Simposios de energía regional	5	Más de 75 clientes potenciales

Redes de asociación estratégica

Categorías de asociación clave:

• Socios de infraestructura midstream
• Proveedores de servicios de tecnología
• Consultores de cumplimiento ambiental

Categoría de asociación	Número de socios activos	Valor de colaboración anual
Infraestructura de la corriente intermedia	12	$ 185 millones
Servicios tecnológicos	8	$ 75 millones
Consultores ambientales	6	$ 45 millones

Range Resources Corporation (RRC) - Modelo de negocio: segmentos de clientes

Compañías de servicios eléctricos

Los recursos de rango suministran gas natural a compañías de servicios eléctricos en múltiples estados.

Estado	Volumen anual de gas (MMCF)	Valor de contrato
Pensilvania	412,560	$ 124.3 millones
Ohio	287,340	$ 86.2 millones

Sectores de fabricación industrial

Range Resources proporciona gas natural a diversas industrias manufactureras.

• Fabricación de productos químicos: 38% de la base de clientes industriales
• Procesamiento de metales: 24% de la base de clientes industriales
• Producción de cerámica y vidrio: 18% de la base de clientes industriales

Proveedores de energía residencial

Range Resources atiende a mercados de energía residencial en las regiones de los Apalaches.

Región	Clientes residenciales	Consumo anual promedio (MCF)
Marcellus lutita	126,540	78
Lutita utica	84,230	65

Consumidores de energía comercial a gran escala

Los recursos de rango apoyan a los principales consumidores de energía comercial.

• Centros de datos: 15% del segmento de clientes comerciales
• Instalaciones de atención médica: 22% del segmento de clientes comerciales
• Instituciones educativas: 12% del segmento de clientes comerciales

Distribuidores de energía regionales y nacionales

Los recursos de rango suministran gas a las redes de distribución.

Tipo de distribuidor	Volumen anual de gas (BCF)	Cobertura del mercado
Distribuidores regionales	287	Nordeste de los Estados Unidos
Distribuidores nacionales	412	Múltiples regiones estadounidenses

Range Resources Corporation (RRC) - Modelo de negocio: Estructura de costos

Gastos de exploración y perforación

Range Resources Corporation reportó gastos de capital totales de $ 761 millones en 2023. Los costos de perforación y finalización promediaron $ 725 por pie lateral en la región de esquisto de Marcellus.

Categoría de gastos	Cantidad de 2023 ($ M)
Costos de perforación	456.6
Gastos de finalización	304.4
Costos de encuesta sísmica	42.3

Inversiones de tecnología y equipos

Las inversiones en tecnología totalizaron $ 89.3 millones en 2023, con un enfoque en la transformación digital y la eficiencia operativa.

• Tecnología de perforación horizontal: $ 35.7 millones
• Sistemas de monitoreo automatizados: $ 24.6 millones
• Plataformas de análisis de datos: $ 29 millones

Fuerza laboral y gestión operativa

Los gastos totales relacionados con la fuerza laboral para 2023 fueron de $ 312.5 millones.

Categoría de personal	Costo anual ($ M)
Salarios y salarios	224.8
Beneficios y seguro	57.3
Capacitación y desarrollo	30.4

Cumplimiento regulatorio y monitoreo ambiental

Los gastos relacionados con el cumplimiento alcanzaron los $ 67.2 millones en 2023.

• Monitoreo ambiental: $ 28.5 millones
• Informes regulatorios: $ 22.7 millones
• Infraestructura de cumplimiento: $ 16 millones

Iniciativas de investigación y desarrollo

Las inversiones de I + D fueron de $ 45.6 millones en 2023, centrándose en tecnologías de extracción innovadora.

Área de enfoque de I + D	Inversión ($ m)
Técnicas de recuperación mejoradas	19.3
Tecnología de reducción de emisiones	15.2
Investigación de eficiencia operativa	11.1

Range Resources Corporation (RRC) - Modelo de negocios: flujos de ingresos

Contratos de venta de gas natural

Los recursos de rango generaron $ 2.1 mil millones en ingresos totales de gas natural para el año fiscal 2023. El precio promedio de gas natural realizado fue de $ 2.80 por MMBTU. El volumen de producción diario alcanzó aproximadamente 2.100 millones de pies cúbicos equivalentes.

Tipo de contrato	Ingresos anuales	Duración
Contratos de precios fijos a largo plazo	$ 892 millones	3-5 años
Contratos variables a corto plazo	$ 456 millones	1-2 años
Acuerdos del mercado spot	$ 752 millones	Trimestral

Comercio de energía del mercado spot

El comercio del mercado spot generó $ 752 millones en 2023. Los volúmenes de negociación promediaron 500 millones de pies cúbicos por día.

Servicios de infraestructura de Midstream

Los ingresos por servicios de Midstream alcanzaron $ 345 millones en 2023. Capacidad de procesamiento: 1.800 millones de pies cúbicos por día.

Categoría de servicio	Ingresos anuales
Procesamiento de gas	$ 198 millones
Transporte	$ 147 millones

Derechos minerales e ingresos de arrendamiento

Los ingresos por los derechos minerales totalizaron $ 213 millones en 2023. Agua de arrendamiento: 1.1 millones de acres netos.

• Arrendamiento de esquisto de Marcellus: $ 127 millones
• Arrendamiento de la cuenca Pérmica: $ 86 millones

Monetización de activos estratégicos

Las ventas de activos y los desinversiones estratégicas generaron $ 176 millones en 2023.

Tipo de activo	Ganancias de venta
Superficie no básica	$ 98 millones
Infraestructura de la corriente intermedia	$ 78 millones

Range Resources Corporation (RRC) - Canvas Business Model: Value Propositions

You're looking at the core promises Range Resources Corporation makes to its customers, investors, and the community as of late 2025. These aren't just mission statements; they are backed by operational and financial metrics from their latest reports.

Low-cost, high-quality, and long-life natural gas and NGL production from the Marcellus

Range Resources emphasizes its position as a low-cost producer in the Appalachian Basin, which translates directly into resilience across different commodity price environments. The quality of the asset base supports this cost structure.

Here are the numbers supporting this value proposition:

• Maintenance capital required to sustain production at 2.6 Bcfe per day is estimated at less than $600 million annually, equating to approximately $0.60 per Mcfe.
• Lease operating expense (LOE) was reported at $0.13 per Mcfe in Q1 2025.
• The company's inventory provides over 30+ Years of low-breakeven, high-return drilling opportunities.
• 2025 annual production is expected to average approximately 2.23 Bcfe per day.
• Liquids (NGLs and oil) are projected to account for over 30% of total production for 2025.

Commitment to shareholder returns via dividends and share repurchases

Range Resources is actively returning capital to shareholders, using a combination of consistent dividends and opportunistic share repurchases. This focus on per-share value is a key part of their strategy, especially given their durable free cash flow generation.

Look at the capital returned to shareholders through the third quarter of 2025:

Metric	Q3 2025 Amount	Year-to-Date (YTD) 2025 Amount (through Q2)
Shares Repurchased	$56 million	$120 million
Dividends Paid	$21 million	$43 million
Total Capital Returned (Q3)	$77 million	N/A

The declared dividend policy shows a clear commitment:

• The fourth quarter 2025 quarterly cash dividend was declared at $0.09 per common share.
• This sets the implied annual dividend for 2025 at $0.36 per share.
• As of September 30, 2025, approximately $839 million remained available under the share repurchase program.

Environmentally advantaged production, achieving Net Zero Scope 1 and 2 GHG emissions

Range Resources highlights the environmental benefit of its Marcellus gas, and critically, they have already met a major sustainability milestone ahead of schedule. This positions their production as more attractive in an energy transition landscape.

The environmental achievements as of mid-to-late 2025 are significant:

• Range Resources achieved Net Zero Scope 1 and 2 GHG emissions for 2024 emissions, beating their original 2025 target.
• Since 2019, the company achieved a 43% reduction in overall greenhouse gas (GHG) emission intensity.
• Methane emissions intensity saw an 83% reduction since 2019.
• The company recycled approximately 100% of flowback and produced water from operations.
• The 2025 capital budget includes an allocation of $20-$30 million for pneumatic devices and other environmental initiatives.

Diversified market access for premium NGL and natural gas price realizations

The company actively manages its sales portfolio to capture better-than-benchmark pricing for both its natural gas and its valuable NGL stream. This is evident in their realized price premiums.

Here's how their Q3 2025 pricing looked compared to benchmarks:

Commodity/Metric	Realization/Differential	Benchmark Comparison
Overall Realized Price (Incl. Hedges)	$3.29 per mcfe	$0.22 premium versus NYMEX natural gas
Pre-Hedge NGL Price	$22.09 per barrel	$0.33 premium above Mont Belvieu equivalent
Expected 2025 Natural Gas Differential	Average ($0.40) to ($0.43) per mcf	Relative to NYMEX
Expected 2025 NGL Differential	Average +$0.50 to +$0.75 per barrel	Relative to Mont Belvieu equivalent

Range Resources' natural gas sales are spread across several regions to optimize pricing, with approximately 30% sold to the Midwest, 20% to local/Northeast markets, and 25% to the Gulf Coast.

Durable free cash flow generation through commodity price cycles

The ability to generate substantial cash flow while maintaining low capital intensity is a core promise, suggesting financial durability. They have a track record of this, and strong projections for the near future.

You can see the historical and projected cash flow strength:

• Historical Free Cash Flow (FCF) in 2024 was $453 million.
• Q3 2025 Cash flow from operations before changes in working capital was $279 million.
• Range projects cumulative FCF of approximately $2.5 billion from 2025 through 2027.
• One projection for 2025 alone estimates $650 million in free cash flow.

This durability is supported by their capital discipline; for instance, they estimate that maintaining production at 2.6 Bcfe per day requires less than $600 million in annual capital expenditure. Finance: draft 13-week cash view by Friday.

Range Resources Corporation (RRC) - Canvas Business Model: Customer Relationships

Range Resources Corporation focuses its customer relationships on delivering value through disciplined operations, securing market access, and transparent reporting to investors and communities.

Investor relations focused on capital discipline and returns

You see Range Resources Corporation communicating a clear strategy to investors: generate free cash flow, prudently reinvest, and return capital to shareholders. This is anchored by low capital intensity. For instance, the company's Q2 2025 performance showed an Earnings Per Share (EPS) of $0.99, which was a 54.69% beat on expectations. Revenue for that quarter hit $856.28 million against a forecast of $722.74 million. The focus remains on long-term efficiency, targeting a production rate of 2.6 Bcfe per day by 2027 while keeping annual capital expenditure below $600 million. The company's commitment to returning capital was evident in the first half of 2025, with $120 million invested in share repurchases and $43 million paid out in dividends year-to-date as of Q2 2025.

Here's a quick look at some of those key 2025 financial metrics:

Metric	Value (Q2 2025 or YTD)	Context
Q2 2025 EPS	$0.99	Beat forecast by 54.69%
Full-Year 2025 CapEx Guidance	$680 million	Total planned capital expenditure
H1 2025 Share Repurchases	$120 million	Capital returned to shareholders
H1 2025 Dividends Paid	$43 million	Cash returned to shareholders
Q2 2025 Gross Profit Margin	47.13%	Operational efficiency indicator
Last Twelve Months EBITDAX	$1.08 billion	As of Q2 2025

The reinvestment rate is key; they estimate it will remain below 50% assuming $3.75 NYMEX NG for 2025 guidance. Also, the company's market capitalization was noted around $8.55 billion in Q2 2025.

Direct sales contracts with large-scale energy purchasers

Range Resources Corporation emphasizes its ability to offer counterparties the scale to sign large supply agreements, supported by its long-life inventory. While specific 2025 contract counterparties aren't detailed, historical agreements show the type of large-scale relationships in place. For example, there was an agreement to potentially supply an affiliate of Sasol Ltd. with 10,000 barrels of ethane per day for a multi-year term. Furthermore, Range has had agreements to supply gas to LNG facilities, including one with an affiliate of Cheniere Energy, Inc. to supply the Sabine Pass LNG terminal for five years starting in 2017.

Long-term relationships with midstream partners for firm transport capacity

Reaching markets outside Appalachia is critical, with roughly 90% of Range Resources Corporation's revenue coming from outside the basin as of late 2025. This requires strong midstream relationships. Range Resources Corporation noted working closely with midstream partners like MPLX to ensure infrastructure commissioning remains on schedule to support growth. Historically, Range signed an agreement to act as a foundation shipper on the ET Rover pipeline, agreeing to transport up to 400,000 Mmbtu per day for 20 years starting in October 2017. These transport arrangements are designed to link Range to customers in key US and global markets, supporting their planned 400 million cubic feet equivalent per day of growth efficiently.

Regular communication of ESG performance and community impact

Range Resources Corporation maintains regular communication on its ESG performance, highlighted by its 2024-2025 Corporate Sustainability Report. The company achieved Net Zero Scope 1 and 2 GHG emissions ahead of its 2025 goal. This was supported by significant reductions since 2019:

• GHG emission intensity reduced by 43%.
• Methane emissions intensity reduced by 83%.
• Total recordable incident rate (TRIR) was 0.33.
• Employee Days Away, Restricted, or Transferred (DART) Rate was 0.17.
• Recycled approximately 100% of flowback and produced water.

The company reports substantial community impact to date, having paid over $5 billion in impact fees, royalty and lease payments, and charitable contributions benefiting Pennsylvania communities. For the reporting period, Range invested $1.2 million into communities, including $213,500 to first responders. Employees volunteered a record 3,100+ hours, and grants were awarded to 449 local grassroot nonprofit organizations. Governance is reflected in an "AA" MSCI ESG Rating.

Range Resources Corporation (RRC) - Canvas Business Model: Channels

You're looking at how Range Resources Corporation (RRC) gets its Appalachian Basin production-natural gas and NGLs-out to paying customers as of late 2025. It's all about moving molecules efficiently from Pennsylvania to the domestic and international markets.

Natural gas pipelines connecting to domestic markets (Midwest, Northeast)

Range Resources Corporation (RRC) relies on a diversified set of pipelines to move its natural gas volumes. For the third quarter of 2025, the company's production averaged 2.23 Bcfe per day. The natural gas portion, approximately 69% of that total, is strategically routed.

The realized price for natural gas, including the impact of basis hedging, reflected a differential of ($0.49) per mcf to NYMEX for the third quarter of 2025. The company has hedged basis across its numerous natural gas sales points; the combined fair value of these basis hedges as of September 30, 2025, showed a net loss of $12.9 million.

Here is the breakdown of Range Resources Corporation (RRC)'s natural gas sales destinations based on the latest reported figures:

Market Destination	Percentage of Natural Gas Sales (Late 2025 Estimate)
Midwest	30%
Local and Northeast Markets	20%
Gulf Coast	25%

The total expected 2025 annual production is approximately 2.23 Bcfe per day.

NGL pipelines and export facilities (e.g., Marcus Hook) for international sales

Liquids, which include Natural Gas Liquids (NGLs), are expected to account for over 30% of Range Resources Corporation (RRC)'s total production for the full year 2025. For the third quarter of 2025, pre-hedge NGL realizations hit $22.09 per barrel. That price represented a premium of $0.33 over the Mont Belvieu equivalent for that quarter. Range Resources Corporation (RRC) projects its full-year 2025 NGL differential to average between +$0.50 to +$0.75 relative to a Mont Belvieu equivalent barrel. Furthermore, Range Resources Corporation (RRC) has confirmed a commitment to 20 Mb/d of takeaway and export capacity utilizing a new East Coast LPG terminal near the Marcus Hook facility.

Direct sales to utilities, industrial users, and power generators

The sales directed to the Gulf Coast, representing 25% of natural gas volumes, are linked to hubs that facilitate access to premium LNG export markets. The realized price for all sales, including the impact of hedges, was $3.29 per mcfe in the third quarter of 2025. This realized price was a premium of $0.22 versus the NYMEX natural gas benchmark for that period.

Brokered natural gas and marketing activities

Range Resources Corporation (RRC) actively manages price exposure through marketing and hedging activities. The company has hedged basis across its sales points to manage regional price volatility. The realized price of $3.29 per mcfe in Q3 2025 reflects the effectiveness of these marketing arrangements combined with hedges. The company's 2025 all-in capital budget is set between $650 million to $680 million.

• Range Resources Corporation (RRC) repurchased $56 million of shares in the third quarter of 2025.
• Dividends paid in the third quarter of 2025 totaled $21 million.
• Year-to-date capital spending through the third quarter of 2025 was $491 million.

Range Resources Corporation (RRC) - Canvas Business Model: Customer Segments

You're looking at the core buyers for Range Resources Corporation's output, which is heavily weighted toward natural gas and Natural Gas Liquids (NGLs) from the Appalachian Basin. The customer base is segmented by the commodity they purchase and the market they serve.

Large-scale domestic natural gas utilities and power generators represent a significant portion of the natural gas takeaway. Range Resources sells natural gas to utilities, marketing and midstream companies, and industrial users. For the third quarter of 2025, Range Resources' production averaged 2.23 Bcfe per day, with approximately 69% of that being natural gas. The company's market access strategy for natural gas involves several key domestic hubs:

• Midwest markets: Approximately 30% of natural gas sales.
• Local and Northeast markets: 20% of natural gas sales.
• Gulf Coast markets: 25% of natural gas sales.

The company also sees growing domestic demand from power generation needed for electrification and data centers. Range Resources projects total U.S. natural gas demand growth of approximately 27 Bcf/d through 2030, partly driven by these domestic industrial needs.

Petrochemical and industrial customers requiring NGLs (ethane, propane, butane) are the primary buyers for the liquids component of Range Resources' production. Liquids accounted for over 30% of production in the 2025 guidance. Range Resources sells NGLs to petrochemical end users, marketers/traders, and natural gas processors. For Q3 2025, Range reported pre-hedge NGL realizations of $22.09 per barrel. The expected 2025 NGL differential is projected to average between +$0.50 to +$0.75 relative to a Mont Belvieu equivalent barrel.

International buyers of NGLs via export terminals are a growing segment, primarily served through the Gulf Coast. While the search results detail domestic gas sales points, the CEO has noted the global call on natural gas and the role of LNG exports. U.S. LNG export capacity was approximately 15 Bcf/d in early 2025. This infrastructure provides the route for Range Resources' NGLs to reach international buyers.

Financial and institutional investors seeking stable free cash flow and capital returns form the final, critical segment of the Range Resources business model. This group is interested in the company's ability to generate and return capital. Institutional investors own about 98.93% of Range Resources Corporation. The company's commitment to shareholder returns is evident in its recent actions. In the third quarter of 2025, Range Resources repurchased $56 million of shares and paid $21 million in dividends. The declared quarterly dividend in Q3 2025 was $0.09 per share. For 2025, Range provided sensitivity analysis showing projected free cash flow exceeding $450 million at natural gas prices of $3/MMBtu, with upside potential above $1 billion at $4.50/MMBtu.

Metric/Segment Focus	2025 Data Point	Reference Period/Context
Natural Gas Production Share	Approximately 69%	Q3 2025 Production
Liquids Production Share	Over 30%	2025 Guidance
NGL Realization (Pre-Hedge)	$22.09 per barrel	Q3 2025
Projected 2025 NGL Differential	+$0.50 to +$0.75 per barrel	Relative to Mont Belvieu equivalent
Natural Gas Sales to Midwest	Approximately 30%	Domestic Market Allocation
Natural Gas Sales to Gulf Coast	25%	Domestic Market Allocation
Institutional Ownership Percentage	98.93%	Investor Base Snapshot
Share Repurchases	$56 million	Q3 2025 Activity
Dividends Paid	$21 million	Q3 2025 Activity

The company's net debt stood at $1.2 billion as of Q3 2025. Range Resources maintains a market capitalization around $9.40 billion as of late 2025. Finance: finalize the Q4 2025 cash flow forecast by next Wednesday.

Range Resources Corporation (RRC) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that drive Range Resources Corporation's operational costs as of late 2025. This structure is heavily weighted toward capital deployment and getting the product to market.

The overall planned investment for the year is clear: Range Resources Corporation (RRC) guided its all-in capital budget for 2025 at $650 million to $680 million. Through the third quarter of 2025, total capital spending reached $491 million, which represented approximately 74% of the full-year budget.

Drilling and development activities are a major component of this spend. Specifically, drilling and completion expenditures for the third quarter of 2025 totaled $165 million. This Q3 capital spending was about 29% of the total annual 2025 budget.

Getting that production to a buyer involves significant midstream costs. Range Resources has specific guidance for these significant costs for transportation, gathering, processing, and compression (TGPC). For the full year 2025, these expenses were guided to be in the range of $1.50 to $1.55 per Mcfe. A projection for the second half of 2025 specifically estimated $631 million for Transportation, Gathering, Processing and Compression.

The balance sheet carries fixed financing costs. As of the end of the third quarter of 2025, Range Resources had $1.1 billion of senior notes outstanding, which are a key driver of interest expense. A projection for the second half of 2025 estimated Net Cash Interest expense to be $40 million.

Day-to-day operational costs, which include Lease Operating Expenses (LOE) and production taxes, are managed tightly. Range Resources provided unit cost guidance for the full year 2025, with direct operating expenses expected to be $0.12 to $0.13 per Mcfe. For the third quarter of 2025, cash operating expenses finished at $0.11 per Mcfe. The 2H 2025 projection also itemized Direct Operating Expense at $50 million and Taxes Other Than Income at $15 million.

Here is a breakdown of key cost components and related figures as of late 2025:

Cost Category	Specific Metric/Period	Amount/Range
Total Capital Budget (2025 Guidance)	Full Year 2025	$650 million to $680 million
Drilling and Completion Costs	Q3 2025	$165 million
Transportation, Gathering, Processing, Compression (TGPC)	2025 Full Year Guidance (Unit Cost)	$1.50 to $1.55 per Mcfe
Transportation, Gathering, Processing, Compression (TGPC)	2H 2025 Projection	$631 million
Senior Notes Outstanding	As of Q3 2025	$1.1 billion
Net Cash Interest	2H 2025 Projection	$40 million
Direct Operating Expense (LOE)	2025 Full Year Guidance (Unit Cost)	$0.12 to $0.13 per Mcfe
Cash Operating Expenses	Q3 2025 (Unit Cost)	$0.11 per Mcfe
Taxes Other Than Income	2H 2025 Projection	$15 million

You can see the focus on efficiency in the unit costs. The company also reported that its cash costs per unit were reduced to $1.91 per Mcfe in Q3 2025, a 3% reduction from Q2 2025.

The cost structure also includes other general expenses:

• Cash G&A (General & Administrative) for 2H 2025 was projected at $70 million.
• Exit Cost Payments were projected at $45 million for 2H 2025.
• Net Brokered Gas Marketing Expense was projected at $5 million for 2H 2025.

Range Resources is clearly managing its capital deployment with precision, as evidenced by year-to-date capital investments of $491 million being right on track with the revised 2025 guidance. Finance: draft 13-week cash view by Friday.

Range Resources Corporation (RRC) - Canvas Business Model: Revenue Streams

You're looking at how Range Resources Corporation (RRC) actually brings in the money, which is pretty straightforward for an Appalachian Basin producer. The core of their revenue is the sale of the molecules they pull out of the ground, but hedging plays a surprisingly big role in smoothing out the peaks and valleys of commodity prices.

The full-year 2025 revenue forecast is set at approximately $3.15 billion. That number is the target we're working toward, built on expected volumes and realized prices across their product mix.

Here's a breakdown of the key components driving that top-line number:

• Sales of natural gas, which accounted for approximately 69% of Range Resources Corporation's Q3 2025 production volumes.
• Sales of Natural Gas Liquids (NGLs), making up over 30% of Range Resources Corporation's 2025 production volume, with Q3 2025 liquids production specifically reported at 31% of total daily output.
• Sales of crude oil and condensate, which, while a smaller component, still contributes meaningfully.

The realized price you get for these commodities is heavily influenced by hedging activities. It's smart risk management, frankly. For example, in Q2 2025, derivative fair value income contributed $154.75 million to the results. To give you a sense of the realized pricing environment in Q3 2025, the realized price, including hedges, averaged $3.29 per mcfe.

We can map out the key revenue drivers and some recent figures to see where the money is coming from. Honestly, the commodity price realization is where the volatility lives, so those derivative gains are defintely important for cash flow predictability.

Revenue Component	Latest Specific Metric/Value	Context/Period
Total Full-Year Revenue Forecast	$3.15 billion	Full-Year 2025 Estimate
Natural Gas Production Share	69%	Q3 2025 Production Mix
NGL Production Share	Over 30% (specifically 31%)	2025 Production Estimate (Q3 Data)
Realized Price (Including Hedges)	$3.29 per mcfe	Q3 2025 Average
Derivative/Hedge Contribution (Example)	$154.75 million	Q2 2025 Derivative Fair Value Income
Condensate Price Realization (Pre-Hedge)	$54.25 per barrel	Q3 2025 Average (Before Realized Hedges)

The sales of crude oil and condensate are tracked separately in their reporting. For Q3 2025, the oil and condensate price realizations, before accounting for realized hedges, averaged $54.25 per barrel. That was $10.73 below WTI (West Texas Intermediate) for oil, and they expected condensate differentials to average between ($10.00) to ($15.00) relative to NYMEX.

The NGL stream also has its own pricing metrics. In Q3 2025, pre-hedge NGL realizations hit $22.09 per barrel, which was a premium of $0.33 over the Mont Belvieu equivalent. This shows you the value captured even before the impact of their hedging strategy is fully realized in the final revenue number.

You can see the revenue stream is a blend of physical commodity sales and financial risk management:

• Physical Sales: Primarily natural gas (the bulk at 69% of Q3 2025 volumes) and NGLs (over 30% of 2025 production).
• Financial Overlay: Realized gains from commodity derivative instruments are crucial for locking in a predictable price, as evidenced by the $154.75 million in derivative fair value income seen in Q2 2025.

Finance: draft 13-week cash view by Friday.