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Range Resources Reports Q4 2019 Results
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Range Resources Corp. announced its fourth quarter and full-year 2019 financial results.
Highlights All-in 2019 capital spending was $728 million, approximately $28 million less than the original budget Sold assets for gross proceeds of $785 million in 2019 to reduce debt Fourth quarter cash unit costs improved by $0.26 per mcfe compared to prior year period Year-end proved reserves increased to 18.2 Tcfe, with 95% from Marcellus Shale All-in 2020 capital budget of $520 million maintains production at ~2.3 Bcfe per day 2020 well costs expected to average less than $610 per lateral foot in 2020, lowest in Appalachia Expanded credit facility to $2.4 billion in October 2019, making year-end 2019 liquidity $1.7 billionCommenting on the results and 2020 plans, Jeff Ventura, the Company's…
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