Range Resources
30 named things its latest annual report says its results depend on, each in the company's own words. 20 of them are also named by other companies we've read.
Suppliers
Southwest Pennsylvania third-party natural gas processing facilities
depends onnamed as a riskIn particular, the disruption of certain third-party natural gas processing facilities that support our core operating area in southwest Pennsylvania could materially affect our ability to market and deliver natural gas production in that area especially if such disruption were to last for more than a short duration which could result in the necessity to curtail a significant amount of our production.Risk factors (Item 1A)
Third-party gas transportation and processing facilities
depends onnamed as a riskAdditionally, we rely to a large extent on facilities owned and operated by third parties, in particular gas transportation and processing facilities, and damage to, or destruction of, those third-party facilities could affect our ability to process, transport and sell our production.Risk factors (Item 1A)
Other companies
Derivative counterparties
fourteen financial institutionsnamed as a riskAt December 31, 2025, our derivative counterparties include fourteen financial institutions, of which all but four are secured lenders in our bank credit facility.Market risk (Item 7A)
Bank credit facility
depends on · $118.0 million of borrowingsnamed as a riskWe are a borrower under fixed rate senior notes and maintain a floating rate bank credit facility which had $118.0 million of borrowings as of December 31, 2025.Risk factors (Item 1A)
8.25% senior notes due 2029
approximately 50%named as a riskThe redemption of our 8.25% senior notes due 2029 utilizing borrowings on our credit facility in January 2026 increased the portion our debt that is based on variable rates to approximately 50% as of January 31, 2026.Market risk (Item 7A)
Places
Pennsylvania
concentrated in · Essentially 100% of our total estimated proved reservesnamed as a riskEssentially 100% of our total estimated proved reserves are located in Pennsylvania.Risk factors (Item 1A)
Also named by AWK, CNX, DTM, EQT, FE, GMED, NFG, PEG and 6 more
Marcellus Shale
operates innamed as a riskShould Pennsylvania or the federal government ban hydraulic fracturing, it would preclude economic development of our Marcellus Shale reserves potentially resulting in severe negative financial consequences to us.Risk factors (Item 1A)
Also named by AM, CHRD, CNX, EQT, EXE, MPLX, UGI, WMB and 1 more
Appalachian region
operates innamed as a riskThe Appalachian region has finite local demand and infrastructure to accommodate ethane.Market risk (Item 7A)
Commodities and inputs
Natural gas
exposed to its price · approximately 65% of our proved reservesnamed as a riskNatural gas prices are likely to affect us the most because approximately 65% of our proved reserves were natural gas as of December 31, 2025 and, at times in the past, natural gas prices have been low compared to our costs to produce.Risk factors (Item 1A)
Also named by AA, ADM, AEE, AEP, AES, AESI, AGX, ALB and 132 more
Crude oil
exposed to its price · 1% of proved reservesnamed as a riskNatural gas prices affect us more than oil prices because approximately 65% of our December 31, 2025 proved reserves were natural gas compared to 1% of proved reserves were oil.Market risk (Item 7A)
Also named by AESI, ALK, APA, ARLP, BDX, CFR, CL, CLMT and 48 more
Natural gas liquids (NGLs)
exposed to its price · 34% of our year-end proved reservesnamed as a riskIn addition, a portion of our NGLs, which are 34% of our year-end proved reserves, are also impacted by changes in oil prices.Market risk (Item 7A)
Also named by AM, APA, AR, CHRD, CNX, CRGY, DOW, DVN and 17 more
NYMEX natural gas
exposed to its price · 161,290,000 Mmbtunamed as a riskThe price we receive for our natural gas production can be more or less than the NYMEX price because of adjustments for delivery location ("basis"), relative quality and other factors; therefore, we have entered into basis swap agreements that effectively lock in the basis adjustments.Market risk (Item 7A)
Also named by MUR
Steel
exposed to its pricenamed as a riskNevertheless, we expect to experience some supply chain constraints and inflationary pressure on our cost structure including steel, fuel and labor, among other items, for the foreseeable future.Risk factors (Item 1A)
Also named by AAON, AGX, ALSN, AM, AME, AMRC, AOS, APD and 104 more
Water
depends onnamed as a riskWater is an essential component of our drilling and hydraulic fracturing processes.Risk factors (Item 1A)
Also named by ADM, BF/B, CDE, CELH, CNX, CRGY, DE, EOG and 9 more
Propane
exposed to its pricenamed as a riskWe believe NGLs prices are somewhat seasonal, particularly for propane.Market risk (Item 7A)
Ethane
earns fromnamed as a riskIf we are not able to sell ethane under at least one of our agreements, we may be required to curtail production or, as we have done in the past, purchase or divert natural gas to blend with our rich residue gas.Market risk (Item 7A)
Regulators
Cecil Township, Washington County, Pennsylvania
subject to · from 500 feet to 2,500 feetnamed as a riskFurther, in November 2024, Cecil Township, located in Washington County, Pennsylvania, adopted an ordinance that increased the setback distance for oil and gas operations from 500 feet to 2,500 feet from protected structures like residences and businesses and 5,000 feet from schools and hospitals.Risk factors (Item 1A)
Pennsylvania Public Utility Commission
subject tonamed as a riskMuch like a severance tax, the fee is on a sliding scale set by the Pennsylvania Public Utility Commission and is based on two factors: changes in the Consumer Price Index and the average NYMEX natural gas prices on the last day of each month.Risk factors (Item 1A)
Pennsylvania Environmental Quality Board
subject tonamed as a riskOn December 9, 2025, the Pennsylvania Environmental Quality Board (PEQB) accepted the citizen petition for rulemaking moving the petition forward for the DEP’s review and study of the requested rulemaking.Risk factors (Item 1A)
Also named by CNX
Pennsylvania Department of Environmental Protection (DEP)
subject tonamed as a riskFor example, in January 2024, the DEP announced that it would implement a policy requiring natural gas well operators to disclose chemicals they use in drilling and hydraulic fracturing operations before the chemicals are used on-site.Risk factors (Item 1A)
Pennsylvania Office of the Attorney General
subject tonamed as a riskThe Pennsylvania Office of the Attorney General has previously announced investigations and charges generally related to our industry in Pennsylvania.Risk factors (Item 1A)
Laws and programs
Inflation Reduction Act corporate alternative minimum tax
subject to · $1.0 billionnamed as a riskIf we become subject to CAMT, our cash obligations for U.S. federal income taxes could be significantly accelerated.Risk factors (Item 1A)
Also named by EXE, HESM, JXN, KLAC, NRG, Q, SO, TRGP and 2 more
One Big Beautiful Bill Act (OBBBA)
subject to · 100% bonus depreciationWhile we believe the provisions of OBBBA are largely beneficial to our financial condition and cash flows, compliance with the provisions may result in additional costs and our cash flow may be negatively affected.Risk factors (Item 1A)
Also named by AA, ABR, ADI, ADM, ALB, AMAT, AMGN, AMKR and 121 more
Resource Conservation and Recovery Act (RCRA)
subject tonamed as a riskFor example, properly handled drilling fluids and produced water are currently exempt from regulation as hazardous waste under RCRA, and instead are regulated under RCRA’s non-hazardous waste provisions.Risk factors (Item 1A)
Also named by AN, CDE, CLH, CTAS, ESI, HL, LB, MLM and 7 more
Natural Gas Policy Act Section 311
subject tonamed as a riskIf intrastate pipelines that provide interstate transportation under the Natural Gas Policy Act Section 311 adopt or maintain rate designs with higher fixed (reservation) charges, our transportation costs could increase and our flexibility to manage volumes through variable charges could decline.Risk factors (Item 1A)
Regional Greenhouse Gas Initiative (RGGI)
subject tonamed as a riskWe will continue to monitor these developments because any carbon-pricing program applicable to in-state generators could influence in-state power-sector gas demand, basis differentials, and, indirectly, our price realizations and development plans.Risk factors (Item 1A)
Pennsylvania natural gas impact fee
subject tonamed as a riskThe impact fee increases the financial burden on our operations in the Marcellus Shale.Risk factors (Item 1A)
Pennsylvania Clean Streams Law
subject tonamed as a riskSimilarly, operations may be impacted, delayed or even prevented by the existence of wetlands or other environmentally sensitive areas based upon the scope of the CWA and its protection of waters of the United States as well as state laws such as the Pennsylvania Clean Streams Law and related regulations and permitting requirements.Risk factors (Item 1A)
Technology
Hydraulic fracturing
depends onnamed as a riskOur reserves development is critically dependent upon the use of hydraulic fracturing and we cannot economically develop any of our reserves without using such technology (which we believe has been safely conducted for many decades) and a ban of such technology could result in severe economic harm to us.Risk factors (Item 1A)