Range Resources Corporation reported its financial results for the first quarter of 2025, revealing a significant increase in revenue and net income compared to the same period in 2024. The company generated total revenues of $690.6 million, a 7% increase from $645.5 million in the prior year. This growth was primarily driven by a 40% rise in sales from natural gas, natural gas liquids (NGLs), and oil, which reached $791.9 million, up from $567.0 million. The net income for the quarter was $97.1 million, or $0.40 per diluted share, compared to $92.1 million, or $0.38 per diluted share, in the first quarter of 2024.
The financial performance reflects a 21% increase in net realized prices and a 2% increase in total production, which averaged 2.2 billion cubic feet equivalent (Bcfe) per day. The company’s direct operating expenses rose to $25.4 million, up from $22.2 million, attributed to higher water hauling and winter operations costs. Additionally, transportation, gathering, processing, and compression expenses increased to $306.1 million, primarily due to rising NGL volumes and prices.
In terms of strategic developments, Range Resources repurchased $67.5 million worth of its common stock during the quarter, reflecting its commitment to returning capital to shareholders. The company also increased its dividend by 12.5% to $0.09 per share, up from $0.08 in the previous year. As of March 31, 2025, Range had cash and cash equivalents of $344.6 million and maintained a robust liquidity position with $1.3 billion available under its credit facility.
Operationally, the company reported a total production of 198.0 million cubic feet equivalent (Mmcfe) for the quarter, with natural gas sales significantly increasing to $490.4 million, up from $271.5 million in the prior year. However, oil sales decreased to $25.9 million from $39.5 million, reflecting a decline in production volumes. The company’s focus on high-quality natural gas assets in Pennsylvania continues to drive its operational strategy, with expectations of sustained demand for U.S. liquefied natural gas exports.
Looking ahead, Range Resources anticipates continued volatility in commodity prices but remains optimistic about its ability to manage these fluctuations through disciplined capital investments and operational efficiencies. The company plans to fund its 2025 capital program primarily through cash flows from operations, maintaining a focus on enhancing shareholder value while navigating the challenges of the energy market.
About RANGE RESOURCES CORP
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