other material
confidence high
sentiment positive
materiality 0.75
Range Resources year-end 2021 proved reserves rise 3% to 17.8 Tcfe; SEC PV10 reaches $14.9B
RANGE RESOURCES CORP
- Proved reserves of 17.8 Tcfe, up from 17.2 Tcfe in 2020, driven by Marcellus drill-bit additions of 1.6 Tcfe.
- SEC PV10 value of $14.9B; strip-price PV10 of $12.7B, equating to ~$40/share net of year-end debt.
- 14th consecutive year of positive performance revisions; 360 PUD locations with expected development cost of $0.29/mcfe.
- Proved developed reserves represent 59% of total; reserves mix 64% natural gas, 34% NGLs, 2% oil/condensate.
- Over 50% of 2022 wells expected from pad sites with existing production, utilizing existing infrastructure.