Range Resources Corporation Q2 2026 Earnings Recap

Shares rose 3.0% as operational efficiencies and premium NGL pricing exceeded expectations, supporting improved full-year commodity guidance.

Key Takeaways

• Production reached 2.3 BCF equivalent per day, with anticipated growth to 2.5 BCF by year-end, consistent with previous guidance.
• Operational metrics set new records, including 1,900 frac stages completed in the quarter and drilling rates above 10,500 feet in 24 hours, highlighting cost efficiencies.
• Marketing benefits from strong LNG and NGL export growth, with ethane exports up 40% year-over-year and propane/butane exports increasing 30% year-over-year.
• NGL premium improved to $3.49 per barrel over Mont Belvieu in Q2, leading to raised full-year NGL premium guidance to $2.50 per barrel.
• Full-year natural gas price guidance upgraded to $0.35-$0.40 per Mcf over Henry Hub, reflecting a robust pricing environment.