RRC · Range Resources Q2 FY2026 earnings call record财报电话会记录

“The ongoing build-out of LNG and NGL infrastructure to supply export markets has positioned the country to continue to meet this demand going forward, all while providing abundant, affordable energy to American residents, as well as commercial and industrial customers.”

“As we emphasized during our first quarter call, Range's access to international markets for ethane, propane, and butane continues to generate differentiated margins for Range's NGLs.”

“At the same time, we are improving our full year natural gas guidance to $0.35-$0.40 per Mcf versus Henry Hub, reflecting a strong start to the year.”

“In the second quarter, we repurchased $78 million in shares, bringing the first half of the year total to $105 million.”

“Exiting this growth plan averaging 2.6 Bcf per day using a hypothetical mid-cycle natural gas price of $3.75, free cash flow would exceed $2.5 billion over a three-year period, approaching 30% of Range's current market cap.”

“As we review our results, our 2026 and multi-year plan is on track, and years of disciplined planning have placed us in the strongest position in our company history, having de-risked a high-quality inventory measured in decades and translated that into a business capable of generating significant free cash flow through cycles.”

“I think if you look back over the last, we'll just say roughly 12 to 18 months, the build-out of data centers and power demand opportunities in the region have really continued to evolve, and I think it's been a very active and busy space.”

“When you look back again to Range Resources' inventory and what NGLs will represent as we continue to move forward with the Repauno dock capacity that we will see go into service in 2027, it really allows us to have a unique dynamic with access to the international market off the East Coast that we continue to expect to see premiums versus the Belvieu index.”

“As far as solving backwards from that end market and the customers, of course, there will be some transportation, either in our portfolio already, the customer's transportation, or potentially taking market share on an existing pipeline to get there, much as we did and announced a year and a half ago with this 20% growth plan.”

“You're seeing volumes start to go through train 1 at Golden Pass.”

“I think the big question mark is what commodity price will need to be seen to incentivize growth out of the higher cost basins, and that puts a downward pressure in our mind to some of this future growth outlook from other basins.”

“I guess if you still turn on 900,000 lateral ft in 2027, is it fair to still think about CapEx as being $700 million for next year?”