Company report
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21 Pages

Range Resources Corp corporate report


Range Resources Corp corporate report

Report summary

Range Resources is one of the best positioned Focused US gas operators in our coverage. It has the lowest breakeven acreage in the southern Marcellus, a strong 2017 hedging position and has one of the highest long-term growth outlooks. The 2016 US$4.2 billion Memorial acquisition dramatically transformed its ability to navigate widening northeast differentials. The deal increases its access to more attractively priced Gulf Coast markets and provides a strategic alternative to its core position in the Marcellus – a distinguishing factor versus its Marcellus-focused peers.

What's included?

This report includes 2 file(s)

  • Range Resources Corp corporate report PDF - 4.61 MB 21 Pages, 7 Tables, 23 Figures
  • Range Resources corporate report.xls XLS - 3.06 MB

Description

The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.

This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.

This Upstream Oil and Gas Company report offers thought-provoking insight into corporate financial health, investment strategy and operational outlook supported by our proprietary asset data and energy research experts.

Widely used by both the energy and financial sectors, our report gives you a unique perspective on key strategic and financial challenges, as well as opportunities facing this oil and gas company.

Wood Mackenzie provides an independent evaluation and expert opinion on the operational performance, strategy and future of the world's top oil and gas companies. Our unique, objective analysis helps you understand, validate, compare and challenge market and corporate views so you can assess strategic opportunities.

  • Executive summary
  • Strategy
    • Development programme is evolving
    • Range's capacity outlook—and the Northeast’s—is changing
    • Key success factors
  • Valuation
  • Financials
    • Financial health overview
    • Net debt outlook / Liquidity position
    • Hedging
      • Options to free up capital
  • Resources, reserves and production
    • Production overview
    • Reserves and resources overview
  • Portfolio summary
    • Key assets
  • Economic assumptions
    • Economic assumptions

In this report there are 30 tables or charts, including:

  • Executive summary
    • SWOT analysis
  • Strategy
    • Map of Range's Louisiana operations
    • Benchmark: Southwest Marcellus top 10 operators by NPV,10
    • Map of Range's Marcellus operations
    • Benchmark: Southwest Marcellus type well asset breakevens
    • Benchmark: 30-day IP rate evolution
    • Benchmark: Lateral length evolution
    • Range: Wood Mackenzie Marcellus capacity outlook
  • Valuation
    • Relative share price performance since start-2016
    • Market premium/discount to WM base case NPV,10
  • Financials
    • Corporate cash flow breakevens evolution
    • Net debt outlook
    • Benchmark: net debt and gearing
    • Range: debt maturity schedule
    • 2017 hedging exposure of US gas producers
    • Benchmark: long-term hedging positions
  • Resources, reserves and production
    • Range reported and forecasted production
    • Benchmark: WM production forecast
    • Benchmark: WM production CAGR
    • Reserves and resource detail
    • Reported organic reserves replacement
    • Benchmark: WM commercial reserves life
  • Portfolio summary
    • Portfolio summary: Table 1
  • Economic assumptions
    • Base price assumptions (nominal terms)
    • Base price assumptions (nominal terms)
    • Base, high and low Brent (nominal terms)
    • High price assumptions
    • Economic assumptions: Table 3
    • Economic assumptions: Table 4
    • Foreign exchange rate assumptions
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