Business Context and Reporting Period
Company: Range Resources Corp
Filing Type: Form 8-K (Current Report)
Date of Report: February 11, 2025
Reporting Period: Three months ended December 31, 2024
Item: 2.02 Results of Operations and Financial Condition
This filing provides a summary of expected net derivative fair value income to be reported in earnings for the fourth quarter of 2024.
Key Financial Metrics
The filing details derivative fair value impacts and cash settlements for the three months ended December 31, 2024 (amounts in thousands):
| Category | Amount ($) |
|---|---|
| Derivative Fair Value Loss (Non-Cash) | (123,501) |
| Natural Gas Derivatives | (115,641) |
| NGLs Derivatives | (1,666) |
| Oil Derivatives | (6,194) |
| Net Cash Receipt on Derivative Settlements | 69,697 |
| Natural Gas Derivatives | 64,169 |
| NGLs Derivatives | 433 |
| Oil Derivatives | 5,095 |
| Total Derivative Fair Value Loss (Reported in Earnings) | (53,804) |
Note: The filing does not provide data on total revenue, net income, operating cash flow, debt levels, or liquidity ratios outside of the specific derivative items listed above.
Material Changes and Commentary
Derivative Composition: The net cash receipt for natural gas derivatives includes income of $74.8 million related to settled NYMEX natural gas derivatives and a loss of $10.6 million related to settled natural gas basis derivatives.
Comparison to Prior Period: The filing text does not provide comparative data for the prior year or quarter to assess material changes in these specific metrics.
Management Commentary: No additional management commentary, guidance, or outlook is provided in this specific 8-K filing beyond the tabular data.
Investor Verification Checklist
- Verify the impact of the $53.8 million derivative fair value loss on the full Q4 2024 earnings report.
- Confirm the reconciliation of the $69.7 million net cash receipt against the company's operating cash flow statement.
- Review the specific terms of the settled NYMEX natural gas derivatives and natural gas basis derivatives to understand the $74.8 million gain and $10.6 million loss components.
- Check subsequent filings for the final audited Q4 2024 financial statements to confirm these expected figures.