Range Resources is an independent natural gas and NGL producer focused entirely on the Marcellus Shale in southwestern Pennsylvania. Range operates roughly 1,500 net producing wells across approximately 769,000 net acres, producing about 2.24 Bcfe per day, with proved reserves of 18.1 Tcfe. Natural gas makes up roughly 65% of reserves and NGLs about 34%. Range makes money by producing and selling these commodities, with revenue driven by production volumes and realized prices. A key differentiator is Range's NGL stream — roughly 30% of production — which provides a cash flow uplift versus dry gas peers. Range markets about 80% of its LPGs internationally, primarily to Europe via East Coast terminals near Philadelphia, generating a premium to domestic Mont Belvieu pricing. Range also routes roughly half of its gas to the Gulf Coast and about 30% to the Midwest via firm pipeline capacity, keeping approximately 80–90% of revenue sourced from outside the Appalachian Basin and avoiding weak in-basin pricing. Range runs a lean two-rig, one-completion-crew program, targeting long laterals of 14,000–16,000 feet to maximize capital efficiency. Lease operating costs run around $0.11–$0.13 per Mcfe. Range's growth plan targets roughly 2.6 Bcfe/day by 2027, enabled by new gas processing capacity, incremental long-haul pipeline access, and a new NGL export terminal near Philadelphia. Range allocates free cash flow to share repurchases, a modest dividend, and debt reduction.