山脉资源 2025年季度报告

Unless the context otherwise indicates, all references in this report to "Range Resources," "Range," "we," "us," or "our" areto Range Resources Corporation and its directly and indirectly owned subsidiaries.For certain industry specific terms used in thisForm 10-Q, please see "Glossary of Certain Defined Terms" in our 2024 Annual Report on Form 10-K.TABLE OF CONTENTS CONSOLIDATED BALANCE SHEETS(In thousands, except per share data)March 31,December 31,20252024(Unaudited)Current assets:Cash and cash equivalents$344,574$304,490Accounts receivable, less allowance for doubtful accounts of $250and $255330,949302,212Derivative assets5,984Prepaid assets15,117Other current assets23,862Total current assets720,486721,461Derivative assets486Natural gas and oil properties, net (successful efforts method)6,476,8136,421,700 Accounts payableAsset retirement obligations 1,189Accrued liabilities268,699Deferred compensation liabilities21,794Accrued interest24,681Derivative liabilities70,845Operating lease liabilities67,468Divestiture contract obligation83,246 Preferred stock, $1par,10,000,000shares authorized,noneissued and outstanding Cash settlements on derivative financial instrumentsDivestiture contract obligation, including accretion Common stockTreasury SharesPar valueshares267,43 Issuance of common stockIssuance of common stock uponvesting of PSUs Stock-based compensation expense————11,644——Dividends ($0.09per share)——————(21,752)Treasury stock repurchased——1,826(67,477)———Excise tax on stock repurchases———(404)——— ——————97,052Balance as of March 31, 2025268,488$2,68528,592$(581,822)$5,923,531$597$(1,405,630)$ veRetainedSharesPar valuesharestreasurycapitalincomedeficitBalance as of December 31, 2023265,756$2,65824,716$(448,681)$5,879,705$647$(1,668,778)$ Issuance of common stockupon vesting of PSUs Stock-based compensation expenseDividends ($0.08per share)Other comprehensive loss ——————92,138Balance as of March 31, 2024267,310$2,67324,716$(448,681)$5,868,617$632$(1,596,474)$ During interim periods, the Company follows the same accounting policies disclosed in its Annual Report on Form 10-K forthe year ended December 31, 2024 filed with the SEC on February 25, 2025 (the "Form 10-K"), except for any new accounting pronouncements adopted during the interim period. These consolidated financial statements are unaudited and should be read inconjunction with the Notes to the Consolidated Financial Statements and information presented in the Form 10-K. In management's 275,654 Total natural gas, NGLs and oil salesSales of purchased natural gasSales of purchased NGLsOther marketing revenue$ 791,92051,0851,7671,556846,328$ We evaluate and update our annual effective income tax rate on a quarterly basis based on current and forecasted operatingresults and tax laws. For the three months ended March 31, 2025, our overall effective tax rate was different than the federalstatutory rate due primarily to tax credits, state income taxes and equity compensation. Current income taxes reflect estimated stateand federal income taxes due for 2025which are based on our estimated earnings, taking into account all applicable tax rates and Net income per common share: March 31,20252024Weighted average common shares outstanding – basic240,035Effect of dilutive securities:Director and employee restricted stock and performance-based equity awards1,720Weighted average common shares outstanding – diluted241,755Weighted average common shares outstanding–basic for first quarter 2025 excludes741,000shares of restricted stock heldin our deferred compensation plan compared to1.6millionshares in first quarter 2024 (although all awards are issued andoutstanding upon grant). For the three months ended March 31, 2025, equity grants of245,000shares compared to127,000sharesin the same period of the prior year were outstanding but not included in the computation of diluted net income because the grant March 31,2025December 31,2024$—$Senior notes: 8.25% senior notes due 20294.75% senior notes due 2030 Total senior notes1,706,542Unamortized debt issuance costs(10,001)Total debt, net of deferred financing costs1,696,541Less current maturities of long-term debt(606,434)(a) As ofMarch 31, 2025, current maturities include $606.5million principal amount of our4.875% senior notes due 2025 ($606.4millionnet ofdeferred financing costs). We expect to repay the current maturities with a combination of cash on hand and borrowings under the credit bank credit facility, which is secured by substantially all of our assets and has a maturity date ofApril 14, 2027. The bank creditfacility provides for a maximum facility amount of$4.0billionand an initial borrowing base of$3.0billion. The bank credit facility also provides for a borrowing base subject to re-determinations, including event-driven unscheduled re-determinations. Asof March 31, 2025, our bank group was composed ofseventeenfinancial institutions. The borrowing base may be increased ordecrease