Moderate growth can produce $1.2 billion in free cash over next five years
By Richard Rostad, analyst, Oil & Gas 360

Range Resources (ticker: RRC) announced fourth quarter results and reserves today, showing $52.5 million in net income, or $0.21 per share.

Range produced 2.15 Bcfe/d in Q4, and 2.20 Bcfe/d overall in 2018. Range reports its Q4 output was impacted by difficulties at a third-party gas processing facility, which cost the company about 10 Bcfe. If this curtailment had not occurred, Range would have produced 2.26 Bcfe/d in Q4.

The company’s proved reserves rose by 18% to 18.1 Tcfe, for a drill-bit F&D cost of only $0.22 per Mcfe this year. Excluding asset sales, Range replaced 370 % of production this year, comp...

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