Tue, Jul 23, 8:32 PM (46 days ago)
Range Resources Corporation reported a net income of $28.7 million for Q2 2024, a slight decrease from $30.2 million in Q2 2023, primarily due to lower derivative fair value income. Revenues from natural gas, NGLs, and oil sales increased by 2% to $478.5 million, driven by a 3% increase in production volumes, although average realized prices decreased by 1%. Operating cash flow was $148.8 million, up by $22.2 million due to higher realized prices. Key highlights include $19.5 million in dividend payments, $20.1 million in stock repurchases, and maintaining substantial liquidity with $251.1 million in cash and $1.3 billion available under the credit facility. Total costs and expenses rose slightly, primarily due to higher transportation and general administrative costs. The company's financial health remains robust with a focus on optimizing efficiencies and managing price risk through hedging.