Range Resources (RRC · NYSE)

Name: Range Resources (RRC) oil & gas valuation & reserves screen
Creator: Enerquill Advisory

Gas-weighted — HQ United States. Oil & gas valuation, proved reserves, production, break-even, net-asset-value and jurisdiction-risk screen.

Category Gas-weightedRegion N. AmericaCEO Dennis Degner (2023)Jurisdiction risk Low (23)

Overview

SW Pennsylvania Marcellus pure-play with one of the lowest-cost, longest-life (multi-decade) inventories in US gas; ~2.2 Bcfe/d, ~30% liquids uplift from NGLs; disciplined maintenance-plus-modest growth.

Deleveraged balance sheet, a base dividend plus buybacks. Flags: gas/NGL price exposure, single-basin concentration.

Valuation snapshot (FY2025)

Market cap

$9.1bn

Enterprise value

$10.1bn

EV / EBITDA

6.7x

P / E

13.8x

FCF yield

5.5%

Dividend yield

1.0%

ROACE

10%

Debt / equity

28%

Net debt / EBITDA

0.8x

EV / reserves

$3.35/boe

EV / flowing

$27k/boe/d

Free cash flow

$0.5bn

Its EV/EBITDA of 6.7x is above the 5.9x median across the 142-company universe, the free-cash-flow yield of 5.5% is lower than the 6.5% median, and at $3.35/boe of proved reserves it is cheaper than the $13.51/boe median.

On a balanced screen across the universe, Range Resources scores 52/100, strongest on safety (60/100). Sub-scores: value 49, quality 53, growth 37, risk 40 (higher = riskier).

Reserves & production

Range Resources holds approximately 3.02 billion boe of proved (1P) reserves with FY2025 production of about 373 thousand boe/d (31% liquids), a reserve life of roughly 22.2 years. Break-even: ~$2.50/MMBtu (Henry Hub gas breakeven) — Low-cost SW Pennsylvania Marcellus; deep low-decline inventory (decades); liquids uplift from NGLs.

Net asset value (public-source)

For Range Resources, no SEC standardized measure is disclosed (non-US filer or listed NOC), so a public-source proved-NAV floor is not computable from US filings. See the interactive screener's NAV tab for peers where an SEC figure exists.

Jurisdiction risk · production-weighted country risk

23 /100

Low jurisdiction risk

Production-weighted average of the country scores below (0 = safest, 100 = riskiest).

Country / region	Prod. share	Country risk	Key jurisdiction risk
United States (Appalachia)	100%	23	Stable, deep; federal-lands leasing and permitting policy swings.

How this is scored. Each country's risk (0–100) is anchored to two named public indices — the OECD Country Risk Classification (0–7 official export-credit country risk) and the World Bank Worldwide Governance Indicators (Political Stability & Absence of Violence percentile) — blended 55/45 and rescaled to 0–100. A company's jurisdiction risk is the production-weighted average across the countries where it operates. This is a pure country measure, kept separate from company & financial risk (leverage, governance). Source: OECD Country Risk Classification (CRC) as of 24 July 2025, sourced via the German Federal Export Credit Guarantees (exportkreditgarantien.de) which applies the OECD consensus country risk category directly (values 0-7; 0 = lowest risk). High-income OECD members are not individually rated by the OECD and are set to crc=0 per the model spec (US, UK, Norway, Canada, Australia, Japan, NZ, and most of Europe incl. OECD members Israel, Poland, Hungary, Czechia, Lithuania, Ireland). 'ps' = World Bank Worldwide Governance Indicators (WGI) 'Political Stability and Absence of Violence/Terrorism' percentile rank, latest available (2023 vintage), 0-100 with higher = more stable; ps values are best sourced estimates rounded to the WGI percentile scale. Yemen not on OECD list ('./.') so crc estimated at 7. Iraq-Kurdistan and Falklands are non-standard model rows using judgment, not official OECD entries..

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Key assets & projects

Asset	Location	Type	Notes
Marcellus SW Pennsylvania	United States	Liquids-rich gas	core, low-cost
Marcellus dry gas	United States	Dry gas	dry window
NGL exports (Marcus Hook)	United States	NGL export	premium
Deep Utica potential	United States	Gas	upside inventory
Water infrastructure	United States	Infrastructure	water
Firm transport	United States	Gas	takeaway to premium markets
Lycoming/Washington County	United States	Gas	core
Southwest Appalachia core	United States	Gas	core

Five-year trend (FY2021–FY2025)

Metric	2021	2022	2023	2024	2025
Production (mboe/d)	368	372	370	374	373
Proved reserves (bnboe)	2.70	2.80	2.90	3.00	3.02
Revenue ($bn)	2.7	4.4	3.0	2.5	3.1
EBITDA ($bn)	1.4	2.6	1.5	1.3	1.5
Net income ($bn)	0.4	1.4	0.9	0.7	0.7
Free cash flow ($bn)	0.5	1.4	0.8	0.5	0.5

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Peer companies — Gas-weighted

NVTK · Novatek EQT · EQT Corporation EXE · Expand Energy TOU · Tourmaline Oil ARX · ARC Resources AR · Antero Resources ENEV3 · Eneva S.A.NWMD · NewMed Energy CNX · CNX Resources Corporation CRK · Comstock Resources, Inc.PEY · Peyto Exploration & Development Corp.BKV · BKV Corporation GPOR · Gulfport Energy Corporation ENOG · Energean

Sources

✓ FY2025 figures verified against primary sources:

↗ Compare RRC against 141 peers in the interactive screener