SEC Filings

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

RANGE RESOURCES CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited, in thousands, except per share data)

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues and other income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Natural gas, NGLs and oil sales

$

736,431

 

 

$

507,541

 

 

$

2,094,450

 

 

$

1,573,128

 

Derivative fair value (loss) income

 

(34,591

)

 

 

(88,426

)

 

 

(151,890

)

 

 

188,326

 

Brokered natural gas, marketing and other

 

109,385

 

 

 

63,117

 

 

 

267,448

 

 

 

170,544

 

Total revenues and other income

 

811,225

 

 

 

482,232

 

 

 

2,210,008

 

 

 

1,931,998

 

Costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Direct operating

 

30,926

 

 

 

36,888

 

 

 

104,136

 

 

 

96,331

 

Transportation, gathering, processing and compression

 

304,562

 

 

 

191,645

 

 

 

819,100

 

 

 

560,883

 

Production and ad valorem taxes

 

9,427

 

 

 

11,993

 

 

 

29,493

 

 

 

31,125

 

Brokered natural gas and marketing

 

116,080

 

 

 

59,773

 

 

 

274,421

 

 

 

169,180

 

Exploration

 

8,299

 

 

 

22,767

 

 

 

23,517

 

 

 

45,769

 

Abandonment and impairment of unproved properties

 

6,549

 

 

 

42,568

 

 

 

73,244

 

 

 

52,181

 

General and administrative

 

43,722

 

 

 

53,035

 

 

 

159,722

 

 

 

152,853

 

Termination costs

 

(336

)

 

 

(47

)

 

 

(373

)

 

 

4,049

 

Deferred compensation plan

 

223

 

 

 

(9,203

)

 

 

(559

)

 

 

(36,838

)

Interest

 

54,801

 

 

 

49,179

 

 

 

161,048

 

 

 

144,206

 

Depletion, depreciation and amortization

 

164,266

 

 

 

159,749

 

 

 

487,558

 

 

 

462,074

 

Impairment of proved properties

 

 

 

 

63,679

 

 

 

22,614

 

 

 

63,679

 

Loss (gain) on the sale of assets

 

30

 

 

 

(102

)

 

 

(149

)

 

 

(23,509

)

Total costs and expenses

 

738,549

 

 

 

681,924

 

 

 

2,153,772

 

 

 

1,721,983

 

Income (loss) before income taxes

 

72,676

 

 

 

(199,692

)

 

 

56,236

 

 

 

210,015

 

Income tax expense (benefit):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

 

 

 

 

 

 

 

 

 

 

Deferred

 

24,137

 

 

 

(71,992

)

 

 

38,295

 

 

 

98,054

 

 

 

24,137

 

 

 

(71,992

)

 

 

38,295

 

 

 

98,054

 

Net income (loss)

$

48,539

 

 

$

(127,700

)

 

$

17,941

 

 

$

111,961

 

Net income (loss) per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

0.19

 

 

$

(0.52

)

 

$

0.07

 

 

$

0.45

 

Diluted

$

0.19

 

 

$

(0.52

)

 

$

0.07

 

 

$

0.45

 

Dividends paid per common share

$

0.02

 

 

$

0.02

 

 

$

0.06

 

 

$

0.06

 

Weighted average common shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

246,451

 

 

 

245,244

 

 

 

246,016

 

 

 

245,027

 

Diluted

 

247,166

 

 

 

245,244

 

 

 

246,879

 

 

 

245,280

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The accompanying notes are an integral part of these consolidated financial statements.

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