Range Resources : 2021 Updated Guidance

GUIDANCE

Production (per day)

Capital Expenditures

Expenses

Direct operating expense per mcfe

Transport, gathering, processing and compression expense per mcfe

Production tax expense per mcfe Exploration expense

Cash G&A expense per mcfe

Interest expense per mcfe

DD&A expense per mcfe

Net brokered marketing expense

Differential Calculations (a)

Natural Gas: (b)

Natural Gas Liquids: (c)

Oil/Condensate:

Differential Pricing History

Natural Gas (compared to HH) (b) Oil/Condensate (compared to WTI) NGL (compared to MB equiv.) (c)

Calendar 2021

~2.15 Bcfe

$425 million

$0.09 - $0.11

$1.35 - $1.40

$0.02 - $0.04

$20.0 - $28.0 million

$0.15 - $0.16

$0.26 - $0.28

$0.47 - $0.50

$2 - $10 million

Calendar 2021 Guidance

NYMEX minus $0.30 - $0.40

Mont Belvieu plus $0.50 to $2.00 per barrel

WTI minus $7.00 to $9.00

1Q 2020	2Q 2020	3Q 2020	4Q 2020	1Q 2021
($0.12)	($0.31)	($0.42)	($0.57)	($0.14)
($6.10)	($12.28)	($9.43)	($10.91)	($9.06)
$1.30	$0.37	$0.01	$0.05	$1.52

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