Range Resources turns first quarter profit
Monday, May 8, 2017
For the first time in two years, Range Resources Corp. reported its first quarter of profit, according to Power Source.
The company recovered from a loss of $94 million (56 cents per share) during the first quarter of last year to profit $170 million (69 cents per share) during the first quarter of this year. Revenue increased to $777 million from $331 million a year ago.
After cutting its capital spending the last two years, Range is ready to increase production again. This year it plans to spend $1.15 billion with 65 percent allocated to the Marcellus Shale in Pennsylvania
Learn more: Power Source > Range turns a profit, anticipates more spending
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Shale FAQ
How often do royalty payments come?
Depending on the company, royalty payments can arrive monthly or quarterly.
Are my royalty payments transferable?
Yes. If you plan on selling your property, notify the gas company that is leasing your land and your realtor. They will make arrangements to allow the royalty payments to transfer to a different land owner.
What are royalties?
Royalties are payments from the gas company to the landowner as part of a lease agreement. Royalties payments cannot begin until production begins. The payments are dependent upon the market price of the resource.