Business Model Breakdown
How Range Resources Corp Makes Money
RRC
Market Cap
$9.2B
Annual Revenue
$3.2B
Profit Margin
28.1%
The Short Version
Range Resources Corp. is an independent oil and natural gas company primarily engaged in the exploration, development, and production of natural gas, natural gas liquids (NGLs), and crude oil. It focuses its operations exclusively within the Appalachian Basin, particularly in the Marcellus Shale. The company makes money by extracting these hydrocarbon resources from its extensive acreage positions and selling them to various purchasers in the energy markets, essentially acting as a upstream commodity producer.
Where the Revenue Comes From
Natural Gas Sales (~70% of revenue, estimated based on typical Appalachian producer mix)
Natural Gas Liquids (NGLs) Sales (~25% of revenue, estimated)
Oil Sales (~5% of revenue, estimated)
Who buys: Midstream companies, utilities, industrial users, and petrochemical plants that process and distribute natural gas and NGLs.
Why It Works (Competitive Advantages)
- ✔Low-Cost Producer: Positioned as an efficient, low-cost producer in the highly productive Appalachian Basin.
- ✔Extensive Core Acreage: Holds a significant and contiguous acreage position in the Marcellus and Utica shales.
- ✔Integrated Midstream Assets: Ownership stakes in certain midstream infrastructure can provide better control over takeaway capacity and reduce costs.
Economic Moat: Narrow (Cost Advantages (due to efficient operations in a prolific basin), Efficient Scale (as one of the largest independent producers in the Appalachian region))
What Our Analysis Says
DVR Score as of June 9, 2026
Range Resources Corp, as a commodity-driven natural gas and NGL producer, continues to face inherent limitations for 10x growth within a 3-5 year horizon. While Q1 2026 results were strong (revenue up 49.8% YoY to $1.07B, EPS of $1.52 beating consensus), demonstrating excellent operational efficiency and financial discipline, these improvements primarily bolster stability and shareholder returns within its existing framework. The company lacks proprietary technology, exponential scalability, or an expanding moat in high-growth segments. Analyst price targets (average $44.00) suggest modest upside, not transformative growth. The score reflects its solid financial management and disciplined approach but acknowledges the structural headwinds and competitive dynamics of the energy sector that preclude a high score for disruptive, exponential growth potential.