SEC Filings

10-Q
RANGE RESOURCES CORP filed this Form 10-Q on 10/23/2018
Entire Document
 

 

 

 

  

December 31, 2017

 

 

 

  

Gross

Amounts of

Recognized

Assets

 

  

Gross

Amounts

Offset in the

Balance Sheet

 

  

Net Amounts

of Assets Presented

in the

Balance Sheet

 

Derivative assets:

 

  

 

 

 

  

 

 

 

  

 

 

 

Natural gas

–swaps

  

$

87,794

 

  

$

(4,106

)

  

$

83,688

 

 

–swaptions

 

 

18,817

 

 

 

(8,103

)

 

 

10,714

 

 

–basis swaps

 

 

1,815

 

 

 

(6,673

)

 

 

(4,858

)

 

–collars

 

 

3,039

 

 

 

(500

)

 

 

2,539

 

Crude oil

–swaps

 

 

2

 

 

 

(7,928

)

 

 

(7,926

)

NGLs

–C2 ethane swaps

 

 

57

 

 

 

 

 

 

57

 

 

–C3 propane swaps

 

 

 

 

 

(12,556

)

 

 

(12,556

)

 

–C3 propane collars

 

 

85

 

 

 

(85

)

 

 

 

 

–C3 propane spread swaps

 

 

12,762

 

 

 

(12,762

)

 

 

 

 

–NC4 butane swaps

  

 

 

 

 

(6,051

)

  

 

(6,051

)

 

–C5 natural gasoline swaps

 

 

 

 

 

(6,727

)

 

 

(6,727

)

Freight

–swaps

 

 

276

 

 

 

(276

)

 

 

 

 

 

  

$

124,647

 

  

$

(65,767

)

  

$

58,880

 

 

 

 

  

December 31, 2017

 

 

 

  

Gross

Amounts of 

Recognized (Liabilities)

 

  

Gross 

Amounts

Offset in the

Balance Sheet

 

 

Net Amounts

of (Liabilities) Presented

 in the

Balance Sheet

 

Derivative (liabilities):

 

  

 

 

 

  

 

 

 

 

 

 

 

Natural gas

–swaps

 

$

(216

)

 

$

4,106

 

 

$

3,890

 

 

–swaptions

 

 

(12,283

)

 

 

8,103

 

 

 

(4,180

)

 

–basis swaps

 

 

(9,580

)

 

 

6,673

 

 

 

(2,907

)

 

–collars

 

 

 

 

 

500

 

 

 

500

 

Crude oil

–swaps

 

 

(24,726

)

 

 

7,928

 

 

 

(16,798

)

NGLs

–C3 propane swaps

 

 

(34,325

)

 

 

12,556

 

 

 

(21,769

)

 

–C3 propane collars

 

 

 

 

 

85

 

 

 

85

 

 

–C3 propane spread swaps

 

 

(13,983

)

 

 

12,762

 

 

 

(1,221

)

 

–NC4 butane swaps

 

 

(11,188

)

 

 

6,051

 

 

 

(5,137

)

 

–C5 natural gasoline swaps

 

 

(13,488

)

 

 

6,727

 

 

 

(6,761

)

Freight

–swaps

 

 

 

 

 

276

 

 

 

276

 

 

 

 

$

(119,789

)

 

$

65,767

 

 

$

(54,022

)

 

The effects of our derivatives on our consolidated statements of operations are summarized below (in thousands):

 

Derivative Fair Value (Loss) Income

 

 

 

Three Months Ended

September 30,

 

 

 

Nine Months Ended

September 30,

 

 

2018

 

 

 

2017

 

 

 

2018

 

 

 

2017

 

Commodity swaps

$

(35,868

)

 

$

(87,861

)

 

$

(143,598

)

 

$

172,457

 

Swaptions

 

7,093

 

 

 

(7,602

)

 

 

4,100

 

 

 

(7,602

)

Collars

 

(3,965

)

 

 

956

 

 

 

(4,031

)

 

 

15,221

 

Puts

 

 

 

 

(73

)

 

 

 

 

 

9,646

 

Calls

 

197

 

 

 

104

 

 

 

526

 

 

 

1,144

 

Basis swaps

 

(2,350

)

 

 

6,113

 

 

 

(9,043

)

 

 

(2,554

)

Freight swaps

 

302

 

 

 

(63

)

 

 

156

 

 

 

14

 

Total

$

(34,591

)

 

$

(88,426

)

 

$

(151,890

)

 

$

188,326

 

 

 

 

19