Range Resources Continues Focus on Marcellus, While Looking to Improve the Balance Sheet
We're leaving our fair value estimate for Range Resources unchanged at $19 per share following the release of fourth-quarter and full-year results. Our no-moat rating is also intact. Volumes declined 5% sequentially to 2.15 billion cubic feet per day, dented by an operational issue at the MarkWest Houston and Harmon Creek processing complexes. The processing facilities returned to service in early January.Range's expected 2019 capital budget of about $750 million would mark a decline from $910 ...
Range Resources is a holding company. Through its subsidiaries, the company is an independent natural gas, natural gas liquids and oil company, engaged in the exploration, development and acquisition of natural gas and oil properties, located in the Appalachian and North Louisiana regions of the United States, primarily in the Marcellus Shale in Pennsylvania and the Lower Cotton Valley formation in Louisiana.
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