GUIDANCE

Calendar 2020

Production (per day)

~2.24 Bcfe

Capital Expenditures

$415 million

Expenses

Direct operating expense per mcfe

$0.11 - $0.13

Transport, gathering, processing and

$1.32 - $1.36

compression expense per mcfe

Production tax expense per mcfe

$0.03 - $0.04

Exploration expense

$28 - $34 million

Cash G&A expense per mcfe

$0.14 - $0.15

Interest expense per mcfe

$0.22 - $0.24

DD&A expense per mcfe

$0.48 - $0.52

Net brokered marketing expense

$10 - $16 million

Differential Calculations (a)

Calendar 2020 Guidance

Natural Gas: (b)

NYMEX minus $0.30 - $0.33

Natural Gas Liquids: (c)

Mont Belvieu plus $0.50 to $1.50 per barrel

Oil/Condensate:

WTI minus $8.00 to $10.00

Differential Pricing History

3Q 2019

4Q 2019

1Q 2020

2Q 2020

3Q 2020

Natural Gas (compared to HH)

($0.26)

($0.31)

($0.12)

($0.31)

($0.42)

Oil/Condensate (compared to WTI)

($6.84)

($8.21)

($6.10)

($12.28)

($9.43)

NGL (compared to MB equiv.) (c)

($0.29)

($0.14)

$1.30

$0.37

$0.01

  1. Differentials based on pre-hedge NYMEX pricing, excluding transportation, gathering and compression expenses.
  2. Natural Gas differential includes basis hedging.
  3. NGL weighting based on 53% ethane, 27% propane, 7% normal butane, 4% iso-butane and 9% natural gasoline

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Range Resources Corporation published this content on 29 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 October 2020 21:14:02 UTC