Range Resources Corp

Range Resources Corp

Range Resources Corp is a Fort Worth-headquartered exploration and production company focused exclusively on the Appalachian Basin. The company traces its roots to 1976, when it was founded as a small independent oil and gas operator. Today, under CEO Dennis Degner and CFO Mark Scucchi, Range concentrates its drilling program on the Marcellus, Utica, and Upper Devonian shale formations, holding approximately 460,000 net acres across Pennsylvania and West Virginia. The company repositioned itself as an Appalachian pure-play in 2018 with the divestiture of its Midcontinent assets, a strategic pivot that shed legacy conventional production to focus on low-cost natural gas and natural gas liquids. Range's operational model is built on low-cost dry gas production with a significant natural gas liquids uplift. The company runs a disciplined maintenance-capital program, allocating roughly 80% of annual capital expenditures to the Marcellus Shale and the remainder to exploratory and infill activity in the liquids-rich Utica and Upper Devonian windows. Its midstream infrastructure includes extensive owned and operated gathering pipelines through its Range Resources — Appalachia subsidiary, giving it direct flow assurance and pricing advantage compared to peers reliant on third-party takeaway. Confirmed basin operators alongside Range include EQT Corporation, CNX Resources, and Antero Resources, with Range consistently ranking among the lowest-cost producers in the basin on a per-unit basis. As of the first quarter 2026, Range employed roughly 500 professionals across its Fort Worth headquarters and regional field offices in Canonsburg, Pennsylvania. The company maintains no adjacent private-capital vehicles, family-office structure, or philanthropic foundation at the corporate level. Dennis Degner assumed the CEO role in May 2023, succeeding Jeff Ventura, who retired after a decade leading the company through its basin consolidation strategy. Under Degner, Range has emphasized balance-sheet deleveraging and share repurchases, reducing total debt by approximately 30% between 2022 and year-end 2025 while returning capital to shareholders through a dividend initiated in late 2023. Range differs structurally from many E&P peers in its refusal to diversify basins. While EQT and Chesapeake have pursued Haynesville or Permian bolt-ons, Range has doubled down on Appalachia, operating a single-basin strategy that yields operational simplicity, basin-level cost intelligence, and a predictable decline curve investors can model with less variability. This single-basin purity — combined with its owned midstream — gives Range a unit-cost advantage that functions as a structural moat in a commodity business where cost of supply is the only durable competitive edge.