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Range Q1: Spends 30% of 2020 Capex, 70% Remains; Free Cash Edges Slightly Negative
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Range Resources Corp. announced its first quarter 2020 financial results.
Q1 Key Financial Developments & Production Free Cash Flow of -$5.1MM in Q1: Range's cash from operations was $125 million - with Q1 spending of $130.1 million, free cash flow was in the negatives at -$5.1 million. Borrowing Base Reaffirmed at $3.0B: Range's $3.0 billion borrowing base and $2.4 billion elected commitment were reaffirmed by lenders in Q1 Q1 Production Up 2% YOY: Net production averaged 2,294 Mmcfe/d during the first quarter, a 2% increase over the prior year period Debt: Range has logged a total debt load of $3.2 billion as of Q1 2020. 2020 Guidance / Q1 SpendingBack in March 2020, Range reduced its 2020 guidance. Latest details include:
2020 Capex - 30% Spent in Q1, 70% remains: Adjusted…- ✓ Full news archive — U.S., Canada & international coverage
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