Range Resources’ Strong 4Q, Growth Estimates

March 2, 2018


Ft. Worth’s Range Resources‘ fourth quarter 2017 total revenues of $679 million beat the Zacks Consensus Estimate of $643 million and surged 168% year over year from $253.5 million.

Those results were boosted by an increase in oil and gas equivalent production and price realizations, partially offset by higher expenses, the company reported.

Total revenues in 2017 improved 137.4% year over year to $2,611.0 million, NASDAQ reported.

During the fourth quarter, the company’s production averaged almost 2,170.4 million cubic feet equivalent per day.

Natural gas made up for 66.5% of total production, while natural gas liquids and oil accounted for the remaining 33.5%.

On a year-over-year basis, oil production rose 25%, while NGL production rose 18%. Moreover, natural gas production jumped 16% year over year.

In its five-year outlook, Range also sees production growth of about 11%/year while generating more than $1 billion in cumulative free cash flow.