Range Resources Posts Loss In Q2

Range Resources Corp. (RRC) reported second-quarter GAAP loss of $147 million or $0.61 per diluted share, compared to a net income $115.2 million or $0.46 per share last year. Adjusted loss for the quarter was $25 million or $0.10 per share.

Quarterly GAAP revenues totaled $377 million and Non-GAAP revenues were $502 million.

Total production for the second quarter averaged approximately 2,349 net Mmcfe per day. The southwest Appalachia area averaged 2,083 net Mmcfe per day during the quarter, a 6% increase over last year.

Looking ahead, the company expects full year production to average about 2.25 Bcfe per day, reflecting adjustments associated with the sale of North Louisiana assets. The company also expects 2020 Appalachia production to average about 2.15 Bcfe per day.

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