Range Resources Corporation (RRC): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No cenário dinâmico da produção de energia, a Range Resources Corporation (RRC) surge como uma potência estratégica, revolucionando a exploração de gás natural por meio de sua inovadora tela de modelo de negócios. Ao alavancar as tecnologias de ponta na região de Marcellus Shale e manter um portfólio robusto de recursos e parcerias, o RRC transforma os paradigmas de energia tradicionais com uma abordagem única que equilibra as proezas tecnológicas, a consciência ambiental e a adaptabilidade do mercado. Sua estratégia abrangente não apenas garante suprimento de gás natural doméstico confiável, mas também posiciona a empresa na vanguarda do desenvolvimento sustentável de energia, tornando seu modelo de negócios um estudo atraente no gerenciamento moderno de recursos.

Range Resources Corporation (RRC) - Modelo de Negócios: Principais Parcerias

Fornecedores de infraestrutura média para transporte de gás natural para transporte de gás natural

Range Resources colabora com vários parceiros importantes de infraestrutura médio:

Parceiro	Capacidade de transporte	Valor anual do contrato
EQT Midstream Partners	750 mmcf/d	US $ 127,5 milhões
Empresas de Williams	500 mmcf/d	US $ 85,3 milhões
Markwest Energy Partners	450 mmcf/d	US $ 76,2 milhões

Fabricantes de equipamentos de petróleo e gás

As parcerias de fabricação de equipamentos -chave incluem:

• Schlumberger Limited - Tecnologia de perfuração
• Halliburton - Equipamento de fraturamento hidráulico
• Baker Hughes - Sistemas de conclusão bem

Proprietários de direitos e direitos de minerais

Range Resources mantém parcerias estratégicas com:

Região	Acres sob arrendamento	Custo de arrendamento por acre
Marcellus Shale	1,020,000	$3,250
Bacia do Permiano	285,000	$4,500

Empresas de consultoria ambiental e de engenharia

Recursos de gama se envolvem com parceiros ambientais especializados:

• Gerenciamento de Recursos Ambientais (ERM)
• Consultoria ambiental da Tetra Tech
• Serviços ambientais da AECOM

Agências regulatórias do governo local e estadual

Detalhes da conformidade da parceria regulatória:

Agência	Interações regulatórias	Gasto de conformidade
Pensilvânia Dep	52 Interações de permissão	US $ 3,7 milhões
Comissão Ferroviária do Texas	38 Interações de permissão	US $ 2,9 milhões

Range Resources Corporation (RRC) - Modelo de negócios: Atividades -chave

Exploração e produção de gás natural

O Range Resources opera principalmente na bacia dos Apalaches, com uma produção total de 2,4 bilhões de pés cúbicos de gás natural equivalente por dia a partir do quarto trimestre de 2023. A Companhia possui aproximadamente 1,2 milhão de acres líquidos na Pensilvânia, Ohio e Virgínia Ocidental.

Métrica de produção	2023 dados
Produção diária de gás natural	2.4 BCFE/dia
Área de áreas líquidas totais	1,2 milhão de acres
Reservas comprovadas	12,3 trilhões de pés cúbicos equivalentes

Perfuração horizontal na região de Marcellus Shale

A Range Resources tem sido pioneira no desenvolvimento de marcellus shale, com as seguintes métricas -chave:

• Comprimento lateral médio de 12.500 pés
• Eficiência de perfuração de 14 a 16 dias por poço
• Marcellus Shale Production é responsável por 85% da produção total da empresa

Técnicas avançadas de fraturamento hidráulico

Tecnologia de fraturamento	Especificação
Propante usado por poço	5-7 milhões de libras
Taxa de reciclagem de água	65-70%
Produtividade média do poço	1.200-1.500 MCFE/dia

Otimização de ativos e gerenciamento de portfólio

Range Resources mantém uma abordagem estratégica para o gerenciamento de ativos com as seguintes características:

• Despesas de capital de US $ 1,1 bilhão em 2023
• Redução de dívida de US $ 300 milhões em 2023
• Custo operacional de US $ 0,75 por mil pés cúbicos

Estratégias sustentáveis ​​de desenvolvimento energético

Métrica de sustentabilidade	2023 desempenho
Redução de emissão de metano	Redução de 35% desde 2015
Investimento de energia renovável	US $ 50 milhões alocados
Intensidade do carbono	0,05 toneladas métricas

Range Resources Corporation (RRC) - Modelo de negócios: Recursos -chave

Reservas de gás natural

Em 31 de dezembro de 2023, a Range Resources Corporation detém 1,54 trilhão de pés cúbicos equivalentes (TCFE) de reservas comprovadas de gás natural, localizadas principalmente na região de Marcellus Shale de Appalachia.

Categoria de reserva	Volume (TCFE)	Percentagem
Reservas desenvolvidas comprovadas	0.92	59.7%
Reservas comprovadas não desenvolvidas	0.62	40.3%

Recursos tecnológicos

Os recursos de gama utilizam a perfuração horizontal avançada e as tecnologias de fraturamento hidráulico em seu portfólio operacional.

• Comprimento lateral horizontal médio: 10.500 pés
• Taxa de eficiência de perfuração: 2,5 poços por almofada de perfuração
• Técnicas de fraturamento proprietárias com capacidade de reciclagem de água de 99,5%

Capital humano

A partir de 2024, Range Resources emprega 620 funcionários em tempo integral, com experiência especializada em engenharia geológica e exploração de petróleo.

Categoria de funcionários	Número de funcionários	Percentagem
Equipe técnica	320	51.6%
Equipe operacional	210	33.9%
Equipe administrativo	90	14.5%

Recursos financeiros

Métricas financeiras a partir do quarto trimestre 2023:

• Total de ativos: US $ 6,2 bilhões
• Caixa e equivalentes em dinheiro: US $ 372 milhões
• Dívida de longo prazo: US $ 2,8 bilhões
• Capacidade da linha de crédito: US $ 1,5 bilhão

Dados proprietários e propriedade intelectual

Recursos de alcance mantém 47 patentes ativas relacionados a tecnologias de perfuração e técnicas de mapeamento geológico.

Categoria de patentes	Número de patentes
Tecnologias de perfuração	22
Mapeamento geológico	15
Técnicas de extração	10

Range Resources Corporation (RRC) - Modelo de Negócios: Proposições de Valor

Suprimento de gás natural doméstico confiável

Os recursos de alcance produziram 2,1 bilhões de pés cúbicos de gás natural por dia em 2023. A produção anual total atingiu 767 bilhões de pés cúbicos. A produção líquida diária média foi de 2.100 milhões de pés cúbicos equivalentes.

Métrica de produção	2023 dados
Produção diária de gás	2,1 bilhões de pés cúbicos
Produção anual de gás	767 bilhões de pés cúbicos

Produção de baixo custo em Marcellus Shale

Os custos de produção em Marcellus Shale em média de US $ 1,47 por mil pés cúbicos em 2023. As despesas operacionais foram de US $ 0,38 por mil pés cúbicos equivalentes.

• Custos operacionais de xisto de Marcellus: US $ 1,47/MCF
• Despesas operacionais totais: US $ 0,38/MCFE

Compromisso ambiental e redução de emissões

Os recursos de alcance reduziram as emissões de metano em 67% em relação à linha de base de 2015. A intensidade do carbono diminuiu para 0,048 toneladas métricas equivalentes por barril de petróleo equivalente.

Métrica ambiental	2023 desempenho
Redução de emissões de metano	67%
Intensidade do carbono	0,048 TCO2E/BOE

Inovação tecnológica em métodos de extração

Investiu US $ 124 milhões em pesquisa e desenvolvimento tecnológico em 2023. Implementaram técnicas avançadas de perfuração horizontal com comprimentos laterais de 10.000 pés.

Portfólio de energia flexível adaptável às demandas de mercado

Os recursos de alcance mantiveram um portfólio diversificado com 85% de gás natural e 15% de produção de líquidos de gás natural. Reservas totais comprovadas de 14,4 trilhões de pés cúbicos equivalentes em dezembro de 2023.

Composição do portfólio	Percentagem
Gás natural	85%
Líquidos de gás natural	15%
Reservas totais comprovadas	14.4 TCFE

Range Resources Corporation (RRC) - Modelo de Negócios: Relacionamentos do Cliente

Contratos de fornecimento de longo prazo com serviços públicos

A Range Resources mantém 15 contratos ativos de fornecimento de gás natural de longo prazo com serviços públicos regionais na Pensilvânia e Ohio. A duração média do contrato é de 7,2 anos, com o valor total do contrato estimado em US $ 425 milhões anualmente.

Parceiro de utilidade	Duração do contrato	Volume anual (MMCF)
FirstEnergy Corp	8 anos	125,000
Energia de Domínio	6 anos	95,000
EQT Corporation	7 anos	85,000

Engajamento direto com consumidores de energia industrial

A Range Resources atende a 42 clientes industriais nos setores de fabricação dos Apalaches, com o valor total do contrato anual de US $ 312 milhões.

• Contratos do setor manufatureiro: 65% da base de clientes industriais
• Contratos da indústria química: 22% da base de clientes industriais
• Valor médio do contrato: US $ 7,4 milhões por cliente

Plataformas digitais para comunicação do cliente

Range Resources opera um Portal de clientes digitais abrangentes Com 18.500 usuários registrados, processando 92% das transações de cobrança e comunicação eletronicamente.

Métricas de plataforma digital	2024 dados
Usuários registrados	18,500
Taxa de transação online	92%
Visitas médias mensais do portal	45,000

Relatório de desempenho ambiental transparente

A Range Resources publica relatórios trimestrais de sustentabilidade, cobrindo emissões, uso de água e conformidade ambiental com a classificação de transparência de 98,7% dos auditores independentes.

• Relatórios trimestrais de sustentabilidade publicados
• Conformidade de auditoria ambiental de terceiros: 98,7%
• Metas de redução de emissões rastreadas publicamente

Estratégias proativas de engajamento das partes interessadas

A Range Resources realiza 24 eventos de envolvimento da comunidade anualmente, envolvendo partes interessadas locais em regiões operacionais na Pensilvânia e Ohio.

Atividade de engajamento das partes interessadas	Frequência anual
Prefeituras comunitárias	12
Workshops ambientais	6
Apresentações de impacto econômico	6

Range Resources Corporation (RRC) - Modelo de Negócios: Canais

Vendas diretas para mercados de energia

Range Resources vende gás natural diretamente para:

• Utilitários elétricos
• Clientes industriais
• Empresas de distribuição local

Segmento de mercado	Volume de vendas anual (MMCF/D)	Duração média do contrato
Utilitários elétricos	425	3-5 anos
Clientes industriais	275	2-4 anos
Empresas de distribuição local	350	1-3 anos

Plataformas de negociação de gás natural por atacado

Os recursos de alcance utilizam as principais plataformas de negociação para transações por atacado:

• NYMEX HENRY HUB
• Intercontinental Exchange (gelo)
• Grupo CME

Plataforma de negociação	Volume de negociação diária (MMBTU)	Quota de mercado
NYMEX HENRY HUB	1,250,000	35%
Intercâmbio intercontinental	850,000	25%
Grupo CME	650,000	18%

Portais de comunicação digital e atendimento ao cliente

Os canais digitais incluem:

• Portal de clientes baseado na Web
• Aplicativo móvel
• Sistema de suporte online 24/7

Conferências do setor e eventos do setor de energia

Tipo de evento	Participação anual	Oportunidades de networking
Conferência Nacional de Energia	3	125+ contatos do setor
Simpósios de energia regional	5	75+ clientes em potencial

Redes de parceria estratégica

Categorias de parceria -chave:

• Parceiros de infraestrutura média
• Provedores de serviços de tecnologia
• Consultores de conformidade ambiental

Categoria de parceria	Número de parceiros ativos	Valor anual de colaboração
Infraestrutura média	12	US $ 185 milhões
Serviços de Tecnologia	8	US $ 75 milhões
Consultores ambientais	6	US $ 45 milhões

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

Empresas de serviços públicos elétricos

Os recursos de alcance fornecem gás natural para empresas de serviços públicos elétricos em vários estados.

Estado	Volume anual de gás (MMCF)	Valor do contrato
Pensilvânia	412,560	US $ 124,3 milhões
Ohio	287,340	US $ 86,2 milhões

Setores industriais de fabricação

A Range Resources fornece gás natural para diversas indústrias de manufatura.

• Fabricação química: 38% da base de clientes industriais
• Processamento de metais: 24% da base de clientes industriais
• Produção de cerâmica e vidro: 18% da base de clientes industriais

Fornecedores de energia residencial

A Range Resources serve mercados de energia residencial nas regiões dos Apalaches.

Região	Clientes residenciais	Consumo médio anual (MCF)
Marcellus Shale	126,540	78
Utica Shale	84,230	65

Consumidores de energia comercial em larga escala

Os recursos de alcance suportam os principais consumidores de energia comercial.

• Data Centers: 15% do segmento de clientes comerciais
• Instalações de saúde: 22% do segmento de clientes comerciais
• Instituições educacionais: 12% do segmento de clientes comerciais

Distribuidores regionais e nacionais de energia

Recursos de alcance fornecem gás para redes de distribuição.

Tipo de distribuidor	Volume anual de gás (BCF)	Cobertura de mercado
Distribuidores regionais	287	Nordeste dos Estados Unidos
Distribuidores nacionais	412	Várias regiões dos EUA

Range Resources Corporation (RRC) - Modelo de Negócios: Estrutura de Custo

Despesas de exploração e perfuração

A Range Resources Corporation registrou despesas totais de capital de US $ 761 milhões em 2023. Os custos de perfuração e conclusão foram em média de US $ 725 por pé lateral na região de Marcellus Shale.

Categoria de despesa	2023 valor ($ m)
Custos de perfuração	456.6
Despesas de conclusão	304.4
Custos de pesquisa sísmica	42.3

Investimentos de tecnologia e equipamentos

Os investimentos em tecnologia totalizaram US $ 89,3 milhões em 2023, com foco na transformação digital e na eficiência operacional.

• Tecnologia de perfuração horizontal: US $ 35,7 milhões
• Sistemas de monitoramento automatizado: US $ 24,6 milhões
• Plataformas de análise de dados: US $ 29 milhões

Força de trabalho e gerenciamento operacional

As despesas totais relacionadas à força de trabalho em 2023 foram de US $ 312,5 milhões.

Categoria de pessoal	Custo anual ($ m)
Salários e salários	224.8
Benefícios e seguro	57.3
Treinamento e desenvolvimento	30.4

Conformidade regulatória e monitoramento ambiental

As despesas relacionadas à conformidade atingiram US $ 67,2 milhões em 2023.

• Monitoramento ambiental: US $ 28,5 milhões
• Relatórios regulatórios: US $ 22,7 milhões
• Infraestrutura de conformidade: US $ 16 milhões

Iniciativas de pesquisa e desenvolvimento

Os investimentos em P&D foram de US $ 45,6 milhões em 2023, com foco em tecnologias inovadoras de extração.

Área de foco em P&D	Investimento ($ m)
Técnicas de recuperação aprimoradas	19.3
Tecnologia de redução de emissões	15.2
Pesquisa de eficiência operacional	11.1

Range Resources Corporation (RRC) - Modelo de Negócios: Fluxos de Receita

Contratos de vendas de gás natural

Recursos de alcance geraram US $ 2,1 bilhões em receitas totais de gás natural para o ano fiscal de 2023. O preço médio do gás natural realizado foi de US $ 2,80 por MMBtu. O volume diário de produção atingiu aproximadamente 2,1 bilhões de pés cúbicos equivalentes.

Tipo de contrato	Receita anual	Duração
Contratos de preço fixo de longo prazo	US $ 892 milhões	3-5 anos
Contratos variáveis ​​de curto prazo	US $ 456 milhões	1-2 anos
Acordos de mercado spot	US $ 752 milhões	Trimestral

Spot Market Energy Trading

A negociação no mercado à Spot gerou US $ 752 milhões em 2023. Os volumes de negociação em média de 500 milhões de pés cúbicos por dia.

Serviços de infraestrutura média

A receita de serviços médios atingiu US $ 345 milhões em 2023. Capacidade de processamento: 1,8 bilhão de pés cúbicos por dia.

Categoria de serviço	Receita anual
Processamento de gás	US $ 198 milhões
Transporte	US $ 147 milhões

Direitos minerais e renda de leasing

A receita dos direitos minerais totalizou US $ 213 milhões em 2023. Lease Cômoda: 1,1 milhão de acres líquidos.

• Marcellus Shale Leasing: US $ 127 milhões
• Leasing de Bacia do Permiano: US $ 86 milhões

Monetização de ativos estratégicos

As vendas de ativos e desinvestidas estratégicas geraram US $ 176 milhões em 2023.

Tipo de ativo	Produtos de venda
Área não essencial	US $ 98 milhões
Infraestrutura média	US $ 78 milhões

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.