Range Announces 26% Increase in Proved Reserves
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Range Resources (RRC) PT Lowered to $11 at Morgan Stanley
January 26, 2018 8:05 AM ESTMorgan Stanley lowered its price target on Range Resources (NYSE: RRC) to $11.00 (from $14.00) while maintaining a Underweight rating.
... MoreRange Resources (RRC) Announces 2018 Capital Budget, Five-Year Outlook
January 24, 2018 4:34 PM ESTRANGE RESOURCES CORPORATION (NYSE: RRC) today announced a 2018 capital budget of $941 million, which is below anticipated 2018 cash flow at current strip prices and generates annual production growth of approximately 11%. Additionally, Range announced a five-year outlook from 2018 through 2022 that generates cumulative free cash flow of approximately $1 billion and reduces leverage to below 2x net debt to EBITDAX by year-end 2022, assuming no asset sales.
Highlights
2018 capital budget of $941 million generates expected annual production growth of ~11% within cash flow~$1 billion of... More