Range Resources Sets Record Liquids Production in Third Quarter Ahead of EQT Merger

Range Resources reported record liquids production in the third quarter of 2026, along with higher net income, as it awaits the completion of its proposed acquisition by EQT Corporation. The company released its results on October 27.

Daily liquids production reached 133,173 barrels, while total production averaged 2.50 billion cubic feet equivalent per day. About 68% of production was natural gas. The company linked its increased liquids output to new infrastructure and well performance.

Range reported $843 million in GAAP revenue and other income and $175 million in GAAP net income, equivalent to $0.75 per diluted share. That profit included a $58 million mark-to-market derivative gain linked to commodity-price changes, an accounting item that can affect the comparison with operating performance. A separate revenue figure for production sales was approximately $737.9 million; it should not be confused with the broader revenue-and-other-income total.

Operating cash flow, including working-capital changes, was $308 million. Cash flow from operations before working-capital changes, a non-GAAP measure, was $347 million. Capital expenditure reached $170 million, or approximately one-quarter of the company's planned spending for 2026.

The latest quarterly figures follow an all-stock acquisition agreement announced with EQT on October 26. The merger is not yet completed, and its final outcome depends on required approvals and closing conditions.

Higher production volumes can increase sales, but commodity prices, hedging results, infrastructure costs and future drilling expenses will influence profitability. Range's latest earnings provide a separate snapshot of its business ahead of the proposed merger, not evidence that anticipated merger benefits have already been realised.