Range Resources Corporation, Company Intelligence Report
Range Resources Corporation (Range Resources) is an independent energy company engaged in the exploration, development and acquisition of crude oil and natural gas assets in several regions of the US. The company's operations can be divided into four areas: Midcontinent, Marcellus shale, Appalachian and Southwest. The Midcontinent division consists of areas such as Mississippian, Cana-Woodford, St. Louis, Ardmore Woodford and Granite Wash, with a combined estimated resource potential of 6 to 9 trillion cubic feet equivalent (tcfe). The resource potential of its Marcellus shale assets are anticipated by the company to be 24 to 32tcfe and the areas included under the Marcellus division are the southwest and northeast areas. The other divisions have an expected combined resource potential of 14 to 19tcfe and these include areas such as Upper Devonian shale, Wolfcamp, Penn Shale, Avalon/Bone Springs, Berea, Big Lime and Huron Shale. As of December 2011, the company had a total reserve base of 842.3 MMboe, of which around 47.5% came from developed oil and gas reserves.
Key Highlights: This section provides detailed analysis on the company's overall oil and gas value chain, new projects, growth opportunities, new ventures, assets performance, hedging strategies, Capex funding, geographical results of oil and gas operations.
Goals and Strategies: This section provides the upcoming goals and strategies of the company. The section mainly goals and strategies followed by the company in order to meet its upcoming goals.
SWOT: The report's SWOT section provides the internal strength, weakness, opportunities and threats of company to reflect its strategic positions in the market.
Production and Development Overview: This section highlights the company's crude oil and natural gas production forecast from its legacy and upcoming assets by region and commodity mix for next five years. The report also covers the detailed information and analysis on the company's producing and development assets.
Exploration: This section includes detailed explanation and analysis on the company's exploration assets resulted due to new discoveries, new drilling and other activities.
M&A trends: This section mainly provides information and analysis on the company's recent assets transactions, joint ventures, acquisition, and divestment activities during the last one year. This section highlights the company's status as a buyer or seller during the analyzed period.
Financial Forecast and Valuation: This section highlights the detailed financial statement forecast for next five years. With the financial statement forecast, this section also provides intrinsic value of the company by using Net Asset Valuation method.
Peer Group Analysis: This section compares the company's performance with its peer group on the basis of share prices, financial ratios, operational and financial parameters and other related parameters.
Financial and Operational Metrics: This section covers the company's historical performance on several financial and operational parameters such as Production and Reserves, Reserves Replacement, Costs Incurred, Acreage, Wells, F&D Costs, Oil and Gas Revenue and Expenses etc.
Reasons to buy
The report will enhance the decision-making capability in a more rapid and time sensitive manner. It will allow you to -
Provide detailed analysis to those who are interested in knowing the companies' existing and future business strategies.
Provide in-depth analysis on the companies E&P profiles along with the exploration and M&A updates.
Provide valuable insights to those who are tracking oil and gas markets and wants to know the intrinsic value of the companies.
Use the analysis for strategy and planning, M&A identifications, and competitor analysis.
Valuation Report, NAV, Oil and gas valuation, Strategic Evaluation, Strategic and Operational Analysis, Forecasted financial Statements, SWOT, Capital expenditure, Market Scenario, Revenue, Financial Ratios, Production, Reserves, Peer Group Comparison, DCF, Outlook, Investment Thesis, Investment Summary, Range Resources Corporation
Table of Contents
1 Table of Contents
1 Table of Contents 3
1.1 List of Tables 5
1.2 List of Figures 6
2 Range Resources Corporation, Company Overview 9
3 Range Resources Corporation, Key Highlights 13
3.1 Strongly Positioned in Marcellus to Map Long-term Production Growth 13
3.2 Streamlining the Operations by Selling Non-core Assets to Fund its Capex Plans and Reduce Costs 16
3.3 Multiple Exploration Potential in Nora Area; Can Emerge as a New Driver for Growth 18
4 Range Resources Corporation, SWOT Analysis 19
4.1 Strengths 19
4.1.1 Strong and Solid Presence in Marcellus Shale 19
4.1.2 Consistent Increase in Reserve Base led to Higher Reserve Replacement Ratio Compared to Peer Group Average 20
4.2 Weaknesses 21
4.2.1 High Dependence on Natural Gas Imbalance in Upstream Portfolio 21
4.2.2 Limited Geographical Presence 22
4.3 Opportunities 22
4.3.1 Growth through Joint Ventures and Strategic Acquisitions 22
4.4 Threats 23
4.4.1 Over Reliance on Marcellus Shale Resources could Adversely Impact Future Cash Flow Generation 23
5 Range Resources Corporation, Goals and Strategies 24
5.1 Increase Production at a Low Cost Structure 24
5.2 Sell Non-core Assets to Fund Capex Plans 24
5.3 Maintain Flexibility and Look for Strategic Acquisitions 24
6 Range Resources Corporation, Production Overview 25
6.1 Production Profile 25
6.2 Assets Portfolio 26
6.2.1 Southwestern Region 26
6.2.2 Appalachian Region 26
7 Range Resources Corporation, Exploration and Development Overview 28
7.1 Southwestern Region 30
7.2 Appalachian Region 30
8 Capital Expenditure 32
8.1 Costs Incurred 33
9 Acreage 34
10 Range Resources Corporation, Mergers and Acquisitions Highlights 35
11 Range Resources Corporation, Forecast Production and Financial Statements 38
11.1 Income Statement (2009-2016) 39
11.2 Balance Sheet (2009-2016) 40
11.3 Cash Flow Statement (2009-2016) 41
11.4 Financial Ratios 42
12 Range Resources Corporation, Valuation 45
12.1 Net Asset Value 45
13 Range Resources Corporation, Peer Comparision 49
13.1 Share Price Performance 49
13.2 Operational and Financial Performance 50
13.3 Key Financial and Operational Ratio 53
14 Range Resources Corporation, Detailed Operational and Financial Metrics 55
14.1 Range Resources Corporation, Total Oil and Gas, Reserves and Production 55
14.1.1 Total Crude Oil and Natural Gas Production and Reserves Trend, 2007-2011 55
14.1.2 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2007-2011 56
14.1.3 Total Crude Oil and Natural Gas Reserve Changes, 2007-2011 58
14.2 Range Resources Corporation, Crude Oil/Liquids Production and Reserve 59
14.2.1 Crude Oil/Liquids Production and Reserve Trend, 2007-2011 59
14.2.2 Crude Oil Production and Reserves By Country/Region, 2007-2011 60