Range Announces 26% Increase in Proved Reserves

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Go back to Range Announces 26% Increase in Proved Reserves

Range Resources (RRC) PT Lowered to $11 at Morgan Stanley

January 26, 2018 8:05 AM EST

Morgan Stanley lowered its price target on Range Resources (NYSE: RRC) to $11.00 (from $14.00) while maintaining a Underweight rating.

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Range Resources (RRC) Announces 2018 Capital Budget, Five-Year Outlook

January 24, 2018 4:34 PM EST

RANGE 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