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美国

证券交易委员会

华盛顿特区 20549

表格 10-Q

(选择一项)

\n \n \n \n \n \n \n

\n	\n
☑	根据1934年证券交易法案第13条或第15(d)条的季度报告

截至 2026年9月30日的季度

或

\n \n \n \n \n \n \n

\n	\n
☐	根据1934年证券交易法案第13条或第15(d)条的过渡报告

委员会文件编号: 001-12209

Range Resources Corporation

(根据其章程规定的注册人准确名称)

\n \n \n \n \n \n \n \n \n \n \n \n \n

特拉华州

34-1312571

(州或其他司法管辖区)

的成立或组织)

(美国国税局雇主识别号码)

100 Throckmorton Street, Suite 1200

Fort Worth, 德克萨斯州 76102

(主要执行办公室地址，包括邮政编码)

(817) 870-2601

(注册人的电话号码，包括区号)

根据《法案》第12(b)条注册的证券：

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

每类证券的名称

交易

股票代码

每种证券注册的交易所名称

普通股，（面值0.01美元）

RRC

纽约证券交易所

通过勾选方框表明注册人（1）是否已提交根据《1934年证券交易法》第13条或第15(d)条在前12个月内（或注册人需提交此类报告的较短期间）要求提交的所有报告，以及（2）是否在过去90天内一直受此类提交要求的约束。

是  否 

通过勾选方框表明注册人是否已通过电子方式提交了根据规章S-T第405条（本章第232.405条）要求提交的每个交互式数据文件在前12个月内（或注册人需提交此类文件的较短期间）。

是  否 

通过勾选方框表明注册人是大型加速提交者、加速提交者、非加速提交者、较小报告公司，还是新兴成长公司。请参见《交易法》第12b-2条中对“大型加速提交者”、“加速提交者”、“较小报告公司”和“新兴成长公司”的定义。

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n	\n	\n
大型加速提交者			加速提交者		
非加速提交者			较小报告公司		☐
			新兴成长公司		☐

\n \n \n \n \n \n \n \n

\n	\n	\n
如果为新兴成长公司，请通过复选框表明，注册人是否已选择不使用根据《交易法》第13(a)条提供的任何新修订的财务会计标准的延长过渡期。		

通过复选框表明注册人是否为壳公司（根据《交易法》第12b-2条定义）。

是 ☐ 否 

233,690,809股普通股于2026年10月23日流通。

RANGE RESOURCES CORPORATION

10-Q表

截至2026年9月30日的季度

除非上下文另有说明，本报告中对“Range Resources”、“Range”、“我们”、“我们”或“我们的”所有引用均指Range Resources Corporation及其直接和间接拥有的子公司. 有关本10-Q表中使用的某些行业特定术语，请参阅我们2025年年度报告10-K表中的“某些定义术语的术语表”。

\n	\n	\n	\n	\n
				页码
第一部分 – 财务信息
项目 1。		财务报表：		3
		合并资产负债表		3
		合并利润表（未经审计）		4
		合并综合收益表（未经审计）		5
		合并现金流量表（未经审计）		6
		合并股东权益表（未经审计）		7
		合并财务报表附注（未经审计）		8
项目 2。		管理层讨论与分析财务状况和经营成果		18
项目 3。		关于市场风险的定量和定性披露		31
项目 4。		控制与程序		32
第二部分 – 其他信息
项目 1。		法律诉讼		33
项目 1A。		风险因素		33
项目 2。		未注册的股权证券销售和资金使用		36
项目 5。		其他信息		36
项目 6。		附录		37
		签名		38

第一部分 – 财务信息

项目 1. 财务报表

RANGE RESOURCES CORPORATION

合并资产负债表

（以千为单位，每股数据除外）

\n	\n	\n	\n	\n	\n	\n	\n
	9月30日			12月31日
	2026			2025
资产	（未经审计）
流动资产：
现金及现金等价物	$	12			$	204
应收账款，扣除坏账准备金为$248 和 $248		302,264				358,687
衍生品资产		121,379				53,645
预付资产		20,899				9,930
其他流动资产		21,860				22,014
流动资产总额		466,414				444,480
衍生品资产		9,988				15,752
天然气、NGLs 和石油资产，净额（成功努力法）		6,941,366				6,708,366
其他财产和设备，净额		17,609				4,935
经营租赁使用权资产		130,583				173,477
其他资产		78,466				74,938
资产总额	$	7,644,426			$	7,421,948

负债
流动负债：
应付账款	$	144,875			$	164,352
资产弃置义务		1,173				1,173
应计负债		335,707				322,102
递延薪酬负债		5,055				5,775
应计利息		4,701				31,934
衍生品负债		2,547				1,196
经营租赁负债		59,994				58,778
剥离合同义务		75,258				75,842
流动负债总额		629,310				661,152
银行借款，扣除未摊销的债务发行成本		284,484				106,700
高级债券，扣除未摊销的债务发行成本		496,434				1,091,634
递延税负债		883,926				701,601
衍生品负债		2,602				2,363
递延薪酬负债		70,773				68,635
经营租赁负债		77,345				115,515
资产弃置义务和其他负债		161,376				153,081
剥离合同义务		166,225				202,586
总负债		2,772,475				3,103,267
承诺和或有事项

股东权益
优先股，$1 面值，10,000,000 股授权，无股已发行和流通		—				—
普通股，$0.01 面值，475,000,000 股授权，269,605,809 股截至 2026年9月30日和268,573,212 股截至2025年12月31日		2,696				2,686
库存股，按成本计算，35,915,000 股截至2026年9月30日和 33,115,000 股截至2025年12月31日		(852,633	)			(746,486	)
额外 paid-in 资本		5,989,619				5,971,258
其他综合收益累计		389				424
留存亏损		(268,120	)			(909,201	)
股东权益总额		4,871,951				4,318,681
总负债和股东权益	$	7,644,426			$	7,421,948

附注是这些合并财务报表不可分割的一部分。

RANGE RESOURCES CORPORATION

CONSOLIDATED STATEMENTS OF INCOME

（未经审计，单位为千美元，每股数据除外）

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	截至2026年9月30日的三个月			截至2026年9月30日的九个月
	2026			2025			2026			2025
收入和其他收入：
天然气、NGLs 和石油销售	$	737,919			$	611,491			$	2,450,258			$	2,070,049
衍生品公允价值收入		58,118				92,946				98,229				88,736
代理天然气、NGLs 和营销		46,523				43,807				161,248				131,224
其他收入		266				284				832				5,348
总收入和其他收入		842,826				748,528				2,710,567				2,295,357
成本和费用：
直接运营		30,932				23,830				87,397				72,323
运输、收集、加工和压缩		349,934				301,110				990,075				911,933
非所得税税项		7,354				8,265				20,103				23,087
代理天然气、NGLs 和营销		48,206				48,882				165,666				142,068
勘探		5,953				8,105				18,481				22,424
未探明资产的弃置和减值		5,774				4,899				14,232				16,254
一般及行政费用		47,691				44,712				140,749				128,549
退出成本		6,334				8,085				22,853				25,484
递延薪酬计划		(52	)			(765	)			735				2,026
利息		14,624				24,268				48,460				80,225
债务提前清偿的损失（收益）		—				—				12,344				(3	)
折旧、摊销和减值		102,049				93,793				283,657				275,866
总成本和费用		618,799				565,184				1,804,752				1,700,236

税前收入		224,027				183,344				905,815				595,121
所得税费用（收益）：
当期		2,775				(1,022	)			11,205				5,623
递延		45,929				40,059				182,334				110,561
		48,704				39,037				193,539				116,184
净利润	$	175,323			$	144,307			$	712,276			$	478,937

每股普通股净利润：
基本	$	0.75			$	0.61			$	3.04			$	2.00
稀释	$	0.75			$	0.60			$	3.02			$	1.99

每股宣布的股息	$	0.10			$	0.09			$	0.30			$	0.27

加权平均普通股 outstanding：
基本		233,487				237,378				234,419				238,523
稀释		235,035				239,026				235,958				240,255

附注是这些合并财务报表不可分割的一部分。

RANGE RESOURCES CORPORATION

合并损益表综合收益

（未经审计，以千为单位）

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	截至9月30日的三个月			截至9月30日的九个月
	2026			2025			2026			2025
净利润	$	175,323			$	144,307			$	712,276			$	478,937
其他综合（损失）收入：
退休后福利：
前期服务成本/精算收益的摊销		(15	)			(18	)			(44	)			(54	)
所得税费用		3				4				9				11
综合收益总额	$	175,311			$	144,293			$	712,241			$	478,894

附注是这些合并财务报表不可分割的组成部分。

RANGE RESOURCES CORPORATION

合并现金流量表

（未经审计，以千为单位）

\n	\n	\n	\n	\n	\n	\n	\n
	截至9月30日的九个月
	2026			2025
经营活动：
净利润	$	712,276			$	478,937
调整以将净利润调节为经营活动产生的净现金：
递延所得税费用		182,334				110,561
折旧、摊销和折耗		283,657				275,866
未探明资产的弃置和减值		14,232				16,254
衍生品公允价值收入		(98,229	)			(88,736	)
衍生金融工具的现金结算		37,849				98,072
出售协议义务，包括累计摊销		22,853				25,484
债务发行成本和其他的摊销		3,464				2,996
递延和股票薪酬		37,435				36,378
资产出售收益		(32	)			(158	)
债务提前清偿的损失（收益）		12,344				(3	)
营运资本变动：
应收账款		56,514				63,063
其他流动资产		(10,794	)			(5,084	)
应付账款		(15,418	)			8,016
应计负债和其他		(76,733	)			(107,828	)
经营活动产生的净现金		1,161,752				913,818
投资活动：
天然气、NGLs和石油资产的增加		(506,436	)			(433,415	)
现场服务资产和其他的增加		(9,875	)			(2,036	)
土地购买		(21,192	)			(51,499	)
资产处置所得		67				161
递延薪酬计划持有的可交易证券的购买		(7,119	)			(18,459	)
递延薪酬计划持有的可交易证券的销售所得		8,353				23,009
投资活动使用的净现金		(536,202	)			(482,239	)
筹资活动：
信用额度借款		2,262,000				885,000
信用额度还款		(2,086,000	)			(756,000	)
高级债券还款		(608,250	)			(608,699	)
支付的股息		(70,834	)			(64,437	)
回购库藏股		(105,476	)			(176,613	)
代扣员工股份的税款		(21,199	)			(21,482	)
现金透支的变化		1,758				(5,798	)
递延薪酬计划持有的普通股销售所得		2,259				12,135
筹资活动使用的净现金		(625,742	)			(735,894	)
现金及现金等价物减少		(192	)			(304,315	)
期初现金及现金等价物		204				304,490
期末现金及现金等价物	$	12			$	175

附注是这些合并财务报表不可分割的组成部分。

RANGE RESOURCES CORPORATION

合并股东权益变动表

（未经审计，以千为单位，除每股数据外）

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
										普通股						累计
										股票			额外			其他
	普通股			库藏股			持有于			实收资本			综合收益			留存收益
	股份数			面值			股份			库藏股			资本			收入			赤字			总计
截至2025年12月31日的余额		268,573			$	2,686				(33,115	)		$	(746,486	)		$	5,971,258			$	424			$	(909,201	)		$	4,318,681
普通股发行		961				10				—				—				(19,450	)			—				—				(19,440	)
普通股发行在TSRs行权时		3				—				—				—				225				—				(225	)			—
基于股票的薪酬费用		—				—				—				—				12,430				—				—				12,430
股息（$0.10 每股）		—				—				—				—				—				—				(23,771	)			(23,771	)
回购库藏股		—				—				(800	)			(27,124	)			—				—				—				(27,124	)
其他综合损失		—				—				—				—				—				(12	)			—				(12	)
净利润		—				—				—				—				—				—				341,630				341,630
截至2026年3月31日的余额		269,537			$	2,696				(33,915	)		$	(773,610	)		$	5,964,463			$	412			$	(591,567	)		$	4,602,394
普通股发行		52				—				—				—				1,563				—				—				1,563
基于股票的薪酬费用		—				—				—				—				12,137				—				—				12,137
股息（$0.10 每股）		—				—				—				—				—				—				(23,634	)			(23,634	)
回购库藏股		—				—				(2,000	)			(78,352	)			—				—				—				(78,352	)
股票回购的消费税		—				—				—				(671	)			—				—				—				(671	)
其他综合损失		—				—				—				—				—				(11	)			—				(11	)
净利润		—				—				—				—				—				—				195,323				195,323
截至2026年6月30日的余额		269,589			$	2,696				(35,915	)		$	(852,633	)		$	5,978,163			$	401			$	(419,878	)		$	4,708,749
普通股发行		17				—				—				—				(152	)			—				—				(152	)
基于股票的薪酬费用		—				—				—				—				11,608				—				—				11,608
股息（$0.10 每股）		—				—				—				—				—				—				(23,565	)			(23,565	)
其他综合损失		—				—				—				—				—				(12	)			—				(12	)
净利润		—				—				—				—				—				—				175,323				175,323
截至2026年9月30日的余额		269,606			$	2,696				(35,915	)		$	(852,633	)		$	5,989,619			$	389			$	(268,120	)		$	4,871,951

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										普通						累计
										股票			额外			其他
	普通股			库藏股			持有于			实收资本			综合收益			留存收益
	股数			面值			股数			库藏股			资本			收入			赤字			总计
截至2024年12月31日的余额		267,435			$	2,674				(26,766	)		$	(513,941	)		$	5,927,893			$	611			$	(1,480,580	)		$	3,936,657
普通股发行		1,047				11				—				—				(16,356	)			—				—				(16,345	)
普通股发行在TSRs行权时		6				—				—				—				350				—				(350	)			—
基于股票的薪酬费用		—				—				—				—				11,644				—				—				11,644
股息（$0.09 每股）		—				—				—				—				—				—				(21,752	)			(21,752	)
回购库藏股		—				—				(1,826	)			(67,477	)			—				—				—				(67,477	)
股票回购的消费税		—				—				—				(404	)			—				—				—				(404	)
其他综合损失		—				—				—				—				—				(14	)			—				(14	)
净利润		—				—				—				—				—				—				97,052				97,052
截至2025年3月31日的余额		268,488			$	2,685				(28,592	)		$	(581,822	)		$	5,923,531			$	597			$	(1,405,630	)		$	3,939,361
普通股发行		65				1				—				—				13,821				—				—				13,822
基于股票的薪酬费用		—				—				—				—				10,947				—				—				10,947
股息（$0.09 每股）		—				—				—				—				—				—				(21,601	)			(21,601	)
库藏股发行 - Rabbi Trust		—				—				1				39				(39	)			—				—				-
回购库藏股		—				—				(1,454	)			(52,881	)			—				—				—				(52,881	)
股票回购的消费税		—				—				—				(517	)			—				—				—				(517	)
其他综合损失		—				—				—				—				—				(15	)			—				(15	)
净利润		—				—				—				—				—				—				237,578				237,578
截至2025年6月30日的余额		268,553			$	2,686				(30,045	)		$	(635,181	)		$	5,948,260			$	582			$	(1,189,653	)		$	4,126,694
普通股发行		9							—				—				(121	)			—				—				(121	)
基于股票的薪酬费用		—				—				—				—				10,951				—				—				10,951
股息（$0.09 每股）		—				—				—				—				—				—				(21,494	)			(21,494	)
回购库藏股		—				—				(1,581	)			(56,255	)			—				—				—				(56,255	)
股票回购的消费税		—				—				—				(560	)			—				—				—				(560	)
其他综合损失		—				—				—				—				—				(14	)			—				(14	)
净利润		—				—				—				—				—				—				144,307				144,307
截至2025年9月30日的余额		268,562			$	2,686				(31,626	)		$	(691,996	)		$	5,959,090			$	568			$	(1,066,840	)		$	4,203,508

附注是这些合并财务报表不可分割的一部分。

RANGE RESOURCES CORPORATION

附注到合并财务报表（未经审计）

(1) 财务报表编制基础

Range Resources Corporation（“Range”或“公司”）是一家独立的天然气、天然气液（“NGLs”）和石油（主要是 herein 中称为“石油”的凝析油）公司，从事美国阿巴拉契亚地区的天然气和液态烃资产的勘探、开发和收购。

在中期期间，公司遵循其向美国证券交易委员会（SEC）提交的2025年12月31日年度报告10-K表中披露的相同会计政策（“10-K表”），提交日期为2026年2月24日。截至2026年9月30日的资产负债表以及截至2026年9月30日和2025年9月30日的合并损益表、综合收益表、现金流量表和股东权益表是未经审计的，应与合并财务报表附注以及10-K表中提供的信息一并阅读。根据管理层的看法，附带的合并财务报表反映了为公允列报所报告期间的结果所需的全部调整。所有调整均为正常经常性调整，除非另有披露。任何中期期间的经营成果不一定反映全年预期的经营成果。

(2) 与客户合同相关的收入

收入的分解

公司所有与客户合同相关的收入均在美国（“美国”）发生所有权转移，并在控制权转移给客户且可收回性合理保证时确认。我们与客户合同相关的应收账款为297.5百万美元，截至2026年9月30日，以及354.9百万美元，截至2025年12月31日。我们确定的各个收入流的收入如下所示（以千为单位）：

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	截至2026年9月30日的三个月			截至2026年9月30日的九个月
	2026			2025			2026			2025
天然气销售	$	371,772			$	361,124			$	1,415,649			$	1,249,456
液化石油气（NGLs）销售		320,962				224,375				893,016				738,064
石油销售		45,185				25,992				141,593				82,529
天然气、液化石油气（NGLs）和石油销售总额		737,919				611,491				2,450,258				2,070,049
购买天然气的销售		42,890				41,602				149,625				124,438
购买液化石油气（NGLs）的销售		1,425				758				5,118				2,289
其他营销收入		2,208				1,447				6,505				4,497
总计	$	784,442			$	655,298			$	2,611,506			$	2,201,273

(3) 所得税

我们根据当前和预测的经营成果和税法，每季度评估和更新我们的年度有效所得税税率。对于截至2026年9月30日的三个月和九个月，我们的总体有效税率与联邦法定税率没有显著差异。对于截至2025年9月30日的三个月和九个月，我们的总体有效税率低于联邦法定税率，主要是由于税收抵免、州所得税和股权激励。我们当前的所得税反映了2026年预计的州和联邦所得税，这些税款是基于我们的预计收益，考虑了所有适用的税率和税法。

(4) 每股净收入

以下列示了净收入与归属于普通股东的基本净收入以及归属于普通股东的稀释净收入之间的调节（以千为单位，每股金额除外）：

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	截至2026年9月30日的三个月			截至2026年9月30日的九个月
	2026			2025			2026			2025
报告的净收入	$	175,323			$	144,307			$	712,276			$	478,937
参与性收益 (a)		(149	)			(161	)			(720	)			(1,081	)
归属于普通股东的基本净收入		175,174				144,146				711,556				477,856
参与性收益的重新分配 (a)		1				1				4				7
归属于普通股股东的稀释后净利润	$	175,175			$	144,147			$	711,560			$	477,863
每股普通股净利润：
基本每股收益	$	0.75			$	0.61			$	3.04			$	2.00
稀释每股收益	$	0.75			$	0.60			$	3.02			$	1.99

(a)

在递延补偿计划中持有的限制性股票负债奖励（在第9号附注中讨论）代表参与性证券，因为它们与普通股权益所有者共同参与不可撤销的股息或分配。可分配给参与性证券的收入代表归属于参与性证券的已分配和未分配收益。然而，参与性证券不参与未分配的净亏损。

以下为加权平均普通股股数和稀释加权平均普通股股数的详细信息（以千为单位）：

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	截至9月30日的三个月			截至9月30日的九个月
	2026			2025			2026			2025
加权平均普通股股数 – 基本		233,487				237,378				234,419				238,523
稀释性证券的影响：
董事和员工限制性股票及基于业绩的股权奖励		1,548				1,648				1,539				1,732
加权平均普通股股数 – 稀释		235,035				239,026				235,958				240,255

加权平均普通股股数 – 2026年第三季度的基本加权平均普通股股数排除了我们递延补偿计划中持有的 199,000股限制性股票，而2025年第三季度为 265,000股（尽管所有奖励在授予时均已发行和流通）。2026年前三季度的基本加权平均普通股股数排除了我们递延补偿计划中持有的 237,000股限制性股票，而2025年前三季度为 540,000股。截至2026年9月30日的三个月和九个月，分别有 13,000股和 45,000股股权授予已发行但未计入稀释净利润的计算，因为授予价格高于普通股的平均市场价格，会对计算产生反稀释影响。截至2025年9月30日的三个月或九个月，没有反稀释股份。

(5) 负债

截至下述日期，我们有以下债务未偿还（以千为单位）：

\n	\n	\n	\n	\n	\n	\n	\n
	2026年9月30日			2025年12月31日
银行债务	$	294,000			$	118,000
高级债券：
8.25% 面值2029年的高级债券		—				600,000
4.75% 面值2030年的高级债券		500,000				500,000
高级债券总额		500,000				1,100,000
未摊销债务发行成本		(13,082	)			(19,666	)
扣除债务发行成本后的总债务	$	780,918			$	1,198,334

没有在截至2026年9月30日的九个月或截至2025年12月31日的年度内资本化的利息。截至2026年9月30日，我们遵守银行信贷协议和高级债券的相关条款。

银行债务

2025年10月，我们签署了一份修订和重述的循环银行信贷安排（我们称之为银行债务或银行信贷额度），该安排以我们几乎全部资产作为担保，到期日为 2030年10月2日。银行信贷额度规定最高授信额度为 $40亿，初始借款基数（borrowing base）为 $30亿，银行承诺总额为 $20亿。银行信贷额度需进行年度重新确定，并可根据事件触发进行不定期重新确定。截至 2026年9月30日，我们的银行集团由 17 家金融机构组成。借款基数可根据我们的请求及银行集团确定的充足已探明储量而增加或减少。承诺金额可在支付给同意参与额度增加的银行一笔双方可接受的承诺费后增加至借款基数。银行信贷额度下的借款可按替代基准利率（ABR，定义见银行信贷额度协议）加 0.75% 至 1.75% 的利差，或按担保隔夜融资利率（SOFR，定义见银行信贷额度协议）加 1.75% 至 2.75% 的利差。适用的利差取决于相对于借款基数的借款金额。我们可随时选择将我们所有的或部分的 SOFR 贷款转换为基准利率贷款，或将所有的或部分的基准利率贷款转换为 SOFR 贷款。承诺费按未提取余额以每年 0.375% 至 0.50% 的费率支付。截至 2026年9月30日，承诺费为 0.375%，我们的 ABR 贷款利率利差为 0.75%，SOFR 贷款利率利差为 1.75%。加权平均利率为 5.5%，截至 2026年9月30日的三个月和九个月，而截至 2025年9月30日的三个月和九个月则为 6.4%。

作为我们在2026年3月完成的重新确定工作的一部分，我们的借款基数 reaffirmed（重申）为 $30亿，我们的银行承诺也 reaffirmed（重申）为 $20亿。2026年9月30日，银行承诺总额为 $20亿，我们在银行信贷额度上未偿还金额为 $2.94亿。此外，2026年9月30日，我们有 $1.651亿的未提取信用证，使该安排下可用的承诺借款能力约为 $15亿。

高级票据

2026年1月，我们通过银行信贷额度借款，按面值的 101.375% 全额赎回了我们 2029 年到期的 8.25% 优先票据的本金余额。我们确认了 1230 万美元的债务提前清偿损失，其中包括 2029 年到期 8.25% 优先票据上剩余未摊销的债务发行费用。

如果我们发生控制权变更，票据持有人可能要求我们按未偿付本金总额的 101% 加上应计及未付利息（如有）回购我们全部或部分优先票据。

担保

Range 是一家控股公司，不拥有任何运营资产，也没有与其子公司无关的重大运营。我们子公司（由 Range 直接或间接拥有）对我们优先票据和银行信贷额度的担保是完整且无条件的，且连带责任，受某些惯常的释放条款约束。Range 及我们担保子公司的资产、负债和经营成果与我们合并财务报表没有实质性差异。担保子公司可能根据信托契约的条款被释放其担保下的义务：

•

在担保子公司全部或实质上全部资产的销售或其他处置，或担保子公司全部股本的销售或其他处置，通过合并、合并或其他方式转让给任何公司或其他个人（包括 Range 的不受限制子公司）的情况下；或

•

如果 Range 根据信托契约的条款将任何作为担保人的受限子公司指定为不受限制子公司。

(6) 资产报废义务

截至 2026 年 9 月 30 日和截至 2025 年 12 月 31 日的九个月期间，与我们的封堵和弃置费用负债相关的活动如下（以千计）：

\n	\n	\n	\n	\n	\n	\n	\n
	截至 9 月 30 日的九个月 2026 年			截至 12 月 31 日的年度 2025 年
期初	$	148,952			$	133,767
发生负债		2,229				3,778
span>结算负债		(510	)			(865	)
增值费用		6,353				7,683
估计变更		—				4,589
期末		157,024				148,952
减去流动部分		(1,173	)			(1,173	)
长期资产报废义务	$	155,851			$	147,779

(7) 衍生工具活动

下表列示了截至2026年9月30日，我们基于商品的衍生品交易量、加权平均对冲价格和公允市场价值，按年度和工具类型分类，不包括下面单独讨论的基差互换。加权平均对冲价格对于天然气工具按每百万英热单位（Mmbtu）计算，对于石油和NGLs工具按每桶计算。表中列出的所有公允价值除C3（丙烷）掉期使用Level 3输入外，均使用Level 2输入。所有公允市场价值（\"FMV\"）以千为单位：

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
期间		合约类型		对冲数量			加权平均对冲价格			FMV
						互换			卖出看跌			下限			上限
天然气 (a)
2026 年 10 月 - 12 月		互换		300,000 Mmbtu/day		$		4.06															$	25,511
2026年10月 - 12月		Three-way Collars		316,848 Mmbtu/day						$		2.76			$		3.71			$		5.08			$	17,115
2027		Swaps		270,000 Mmbtu/day		$		4.05															$	80,345
2027		Three-way Collars		80,000 Mmbtu/day						$		3.00			$		4.00			$		4.75			$	15,438
2028		Collars		20,000 Mmbtu/day										$		3.50			$		4.50			$	833
2028		Three-way Collars		180,000 Mmbtu/day						$		2.50			$		3.50			$		4.50			$	(358	)
2029		Three-way Collars		15,000 Mmbtu/day						$		2.50			$		3.50			$		4.50			$	(322	)

Oil
2026年10月 - 12月		Three-way Collars		1,000 bbls/day						$		70.00			$		83.50			$		100.00			$	103

NGLs
2026年10月 - 12月		C3 Collars		6,000 bbls/day										$		31.50			$		35.91			$	(964	)
2026年10月 - 12月		C4 Swaps		4,000 bbls/day		$		54.60															$	(523	)
2026年10月 - 12月		C5 Swaps		3,989 bbls/day		$		82.52															$	(445	)
2027年1月 - 3月		C3 Collars		13,500 bbls/day										$		31.71			$		36.71			$	(1,051	)

(a)

我们还出售了价值为 150,000 Mmbtu/day 的天然气看涨互换期权，用于2028年，加权平均价格为 $4.00/Mmbtu，于 2026年12月到期。截至 2026年9月30日，这些合约的公允价值（使用Level 3输入值）为衍生金融负债 $1.1 百万。

基差互换合约

除了上述商品衍生品外，截至2026年9月30日，我们持有天然气基差互换合约，用于锁定NYMEX Henry Hub与我们的某些实物定价指数之间的价差。这些合约结算至2030年12月，总交易量为 165,327,500 Mmbtu。截至2026年9月30日，这些合约的公允价值为负债 $8.4 百万。

衍生金融资产和负债

截至 2026年9月30日和 2025年12月31日合并资产负债表中所包含的衍生品公允价值合计如下。当同一交易对手持有具有盈亏头寸的衍生品且我们拥有主净额结算协议时，资产和负债进行净额抵销。下表提供了与衍生品交易对手的主净额结算安排相关的额外信息（以千计）：

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n	\n	\n	\n	\n
	2026年9月30日			2025年12月31日
衍生金融资产：
确认资产的总额	$	167,372			$	87,458
合并资产负债表中的抵销总额		(36,005	)			(18,061	)
合并资产负债表中列示的资产净额	$	131,367			$	69,397

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n	\n	\n	\n	\n
	2026年9月30日			2025年12月31日
衍生金融（负债）：
确认的（负债）总额	$	(41,154	)		$	(21,620	)
合并资产负债表中的抵销总额		36,005				18,061
合并资产负债表中列示的（负债）净额	$	(5,149	)		$	(3,559	)

衍生金融资产公允价值收益（亏损）

我们的衍生品对合并利润表的影响总结如下（以千计）：

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	截至9月30日的三个月			截至9月30日的九个月（Nine Months Ended September 30,）
	2026			2025			2026			2025
天然气衍生品	$	67,416			$	90,401			$	126,764			$	80,927
NGLs衍生品		(5,560	)			2,771				(10,969	)			5,096
原油衍生品		(3,738	)			(226	)			(17,566	)			2,713
衍生品公允价值收入总额	$	58,118			$	92,946			$	98,229			$	88,736

(8) 公允价值计量

本公司遵循权威准则对其财务报表中的资产和负债进行公允价值计量。有关公允价值层级（fair value hierarchy）的更多信息，请参阅 Form 10-K 中合并财务报表附注第 2 条。截至2026年9月30日，我们部分天然气衍生工具包含互换期权（swaptions），即对手方有权但无义务在预先确定的日期进入固定价格互换。如果行使，该互换期权合约将变成与我们的固定价格互换处理方式一致的互换合约。截至2026年9月30日，我们使用14%的加权平均隐含波动率来计算天然气互换期权的公允价值。截至2026年9月30日，我们还利用了丙烷领口期权（collars），由于缺乏公开的波动率数据，其中包含不可观察的输入值，并使用41%的加权平均隐含波动率来计算这些领口期权的公允价值。以下是对公允价值层级（fair value hierarchy）中分类为第3级（Level 3）的衍生工具期初和期末余额的调节表（单位：千美元）：

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n
	截至9月30日的九个月 2026年9月30日
2025年12月31日的余额	$	(603	)
增加额		(3,127	)
结算额		603
2026年9月30日的余额	$	(3,127	)

以下列示了我们金融工具截至2026年9月30日和2025年12月31日的账面金额、公允价值及层级（单位：千美元）：

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	2026年9月30日			2025年12月31日
	账面价值			公允价值			账面价值			公允价值
资产：
商品衍生品 (a)	$	131,367			$	131,367			$	69,397			$	69,397
有价证券 (b)		69,057				69,057				65,436				65,436
（负债）：
商品衍生品 (a)		(5,149	)			(5,149	)			(3,559	)			(3,559	)
银行信贷额度 (c)		(294,000	)			(294,000	)			(118,000	)			(118,000	)
8.25% 2029年到期的优先票据 (c)		—				—				(600,000	)			(609,186	)
4.75% 2030年到期的优先票据 (c)		(500,000	)			(475,130	)			(500,000	)			(493,895	)
递延薪酬计划 (d)		(75,828	)			(75,828	)			(74,410	)			(74,410	)

(a)

商品衍生品的公允价值使用第2级（Level 2）输入值，但互换期权和丙烷领口期权除外，它们使用第3级（Level 3）输入值。截至2026年9月30日，互换期权合约的公允价值为110万美元的衍生品负债，截至2026年9月30日，丙烷领口期权的公允价值为200万美元的衍生品负债。

(b)

有价证券存放在我们的递延薪酬计划中，并在主要交易所积极交易，属于第1级（Level 1）输入值。

(c)

由于银行债务具有浮动利率结构，其账面价值接近公允价值。我们优先票据的公允价值基于期末市场报价，属于第2级（Level 2）输入值。债务在资产负债表上按账面价值列示。

(d)

我们递延补偿计划的公允价值根据计划持有的可交易证券在资产负债表日的收盘价进行更新，这属于第一层级输入。

我们的流动资产和流动负债包括金融工具，其中最重要的是应收账款和应付账款。我们认为我们的流动资产和流动负债的账面价值接近公允价值。我们的公允价值评估考虑了多种因素，包括（1）这些工具的短期期限和（2）我们历史和预期的坏账费用发生情况。截至2026年9月30日，我们的不可收回应收账款拨备为$248,000，截至2025年12月31日为$248,000。以公允价值初始计量的非金融负债包括资产弃置义务、经营租赁负债以及我们在出售北路易斯安那州资产时产生的出售合同义务。

某些资产并非持续以公允价值计量，但在某些情况下会进行公允价值调整。我们的已探明天然气和石油资产会根据事件或情况变化定期进行减值测试，以判断账面金额是否可能无法收回。在2026年前九个月和2025年，没有发生已探明资产减值费用。

信用风险集中

截至2026年9月30日，我们的主要信用风险集中在于无法收回应收账款的风险以及交易对手未能履行衍生品义务的风险。为管理与我们衍生品相关的交易对手风险，我们根据对其财务实力和/或信用评级的评估来选择和监控交易对手。在确定我们衍生品合约的公允价值时会考虑交易对手的信用风险。尽管我们的交易对手主要是主要的评级金融机构，但我们的衍生品合约的公允价值已调整以考虑某些交易对手未能履约的风险，但该影响微不足道。截至2026年9月30日，我们的衍生品交易对手包括十七家金融机构，其中十二家是我们银行信贷协议中的担保贷款人。截至September 30, 2026，我们的净衍生品头寸包括向两家未列入我们银行信贷协议的交易对手支付的总计$2.5百万，以及从三家未列入我们银行信贷协议的交易对手收取的总计$5.0百万。

(9) 基于股票的薪酬计划

总基于股票的薪酬费用

有关各种股票薪酬奖励的类型、估值及其奖励条款的进一步说明，请参阅10-K表格中合并财务报表的注释部分的注释10。股票薪酬代表基于时间的限制性股票和基于业绩的奖励的摊销。以下详细说明了股票薪酬在功能费用类别中的分配（以千为单位）：

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	截至 9月30日的三个月			截至 9月30日的九个月
	2026			2025			2026			2025
直接运营费用	$	537			$	525			$	1,601			$	1,566
代理天然气、NGLs和营销费用		676				626				2,277				2,268
勘探费用		396				285				1,116				998
一般及行政费用		9,952				9,448				31,048				28,885
总股票薪酬费用	$	11,561			$	10,884			$	36,042			$	33,717

与我们在递延薪酬计划中持有的限制性股票负债相关的公允价值调整，按照我们在合并损益表中记录的递延薪酬计划费用直接与我们的股价变动相关，而不是直接与功能费用相关，因此不分配到上述功能类别。

基于时间的 - 股权奖励 (\"股权奖励\")。这些奖励根据其相关服务期的公允价值按比例计入费用。公允价值基于授予日的市场价格，并在最长三年的服务期内计入费用。我们为这些未到期的股权奖励记录了2026年前九个月的薪酬费用为29.6百万美元，而2025年同期为28.7百万美元。

基于时间的 - 负债奖励 (\"负债奖励\")。自2022年以来没有重大授予，我们在2026年没有为这些奖励记录薪酬费用。负债奖励历史上是存入递延薪酬计划的（见下文进一步讨论）。

基于业绩的 - TSR奖励 (\"TSRs\"或 \"TSR奖励\")。 TSR奖励的公允价值在授予日使用蒙特卡洛模拟模型进行估算，该模型使用多个输入变量来确定满足奖励授予中规定的市场条件的可能性，并计算奖励的公允价值。模型中使用的预期波动率是根据与三年剩余业绩期一致的历史期估算的。无风险利率基于与授予期限相当的美国国债利率。

从2026年开始，我们授予的绩效奖励包括（i）“相对” TSR 单位，其支付将根据我们在绩效期结束时的总股东回报率相对于同行群体的表现来确定，这与历史上通常的 TSR 授予类似，以及（ii）“绝对” TSR 单位，其支付将根据我们普通股在绩效期的总股东回报目标来确定。我们在2026年前九个月为TSR奖励记录了薪酬费用为620万美元，与2025年同期的430万美元相比。公允价值在绩效期内摊销，对实际达成目标的费用记录不进行调整。以下假设用于估算在2026年前九个月和2025年期间授予的TSR奖励的公允价值：

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n	\n	\n	\n	\n	\n
		截至9月30日的九个月
		2026			2025
无风险利率			3.5	%			4.2	%
预期年波动率			35	%			46	%
相对TSR单位的授予日公允价值		$	40.46			$	44.39
绝对TSR单位的授予日公允价值		$	38.47			$	—

股权奖励摘要

以下是我们截至2026年9月30日的九个月期间基于时间的和基于绩效的股票奖励的活动摘要：。

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	基于时间的股权奖励			基于绩效的股票奖励
	股数			加权平均授予日公允价值			单位数量（a）（a）			加权平均授予日公允价值
截至2025年12月31日的未行使		1,104,628			$	36.37				620,208			$	35.13
授予		1,184,226				35.98				236,122				39.79
已行权		(841,510	)			35.14				(145,747	)			26.86
失效		(36,252	)			36.21				—				—
截至2026年9月30日的未行使		1,411,092			$	36.77				710,583			$	38.37

（a）

授予金额反映了授予的绩效单位。实际支付金额将根据绩效期内总股东回报率与同行的比较以及我们的绝对股东回报排名在零到200%之间。

递延薪酬计划

我们递延薪酬计划的资产存放在一个授托信托中，我们称之为拉比信托，因此在破产或无力偿债时，这些资产可用于满足我们一般债权人的索赔。存放在拉比信托中的我们普通股被记为负债奖励，并在每个报告期间通过对我们合并损益表中的递延薪酬计划费用进行入账或冲销调整至公允价值。截至2026年9月30日，拉比信托持有195,000股（186,000股已行权股）的Range普通股，而截至2025年12月31日为266,000股（258,000股已行权股）。

交易性证券。我们递延补偿计划中的交易性证券采用市价会计方法进行核算，并包含在附带的合并资产负债表中的其他资产中。我们选择采用公允价值选项，以简化我们对递延补偿计划投资的会计处理。利息、股息和市价变动收益或损失包含在附带的合并资产负债表中我们递延补偿资产和负债的变化中。对于2026年第三季度，利息和股息为183,000美元，市价变动损失为651,000美元，而2025年第三季度的利息和股息为281,000美元，市价变动收益为3.4百万美元。对于2026年前九个月，利息和股息为413,000美元，市价变动收益为4.3百万美元，而2025年前九个月的利息和股息为617,000美元，市价变动收益为6.7百万美元。

(10) 股本

库藏股

2026年2月，我们的董事会批准将现有的股票回购计划增加至总计1.5十亿美元。截至2026年9月30日，我们剩余的股票回购授权总额约为1.4十亿美元。在2026年前九个月，我们以总计105.5百万美元（包括1%的消费税为106.1百万美元）回购了2.8百万股。以下为根据结算日期计算的库藏股变动情况表，适用于2026年9月30日止的三个月和九个月：

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n	\n	\n	\n	\n
	截至2026年9月30日的三个月			截至2026年9月30日的九个月
期初余额		35,915,000				33,115,000
回购的股份		—				2,800,000
期末余额		35,915,000				35,915,000

(11) 退出成本

2020年第三季度，公司出售了其在路易斯安那州北部的资产，并保留了某些延续至2030年的收集、运输和加工义务。这些合同中我们不会实现任何未来的利益。预计的义务包含在我们合并资产负债表中的流动和非流动出售合同义务中。在2026年前九个月，我们记录了20.0百万美元的折现摊销费用，而去年同期为25.5百万美元。此外，在2026年前九个月，我们为预期吞吐量的变化增加了2.9百万美元的净调整，以提高该义务。

以下为截至2026年9月30日止九个月的应付退出成本负债变动详情（以千为单位）：

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n
	退出成本
2025年12月31日余额	$	278,428
折现摊销		20,003
估计值变动		2,850
支付		(59,798	)
截至2026年9月30日的余额	$	241,483

(12) 补充现金流量信息

\n	\n	\n	\n	\n	\n	\n	\n
	截至2026年9月30日的九个月
	2026			2025
	(千美元)
经营活动产生的净现金包括：
支付给税务机构的联邦所得税	$	(4,750	)		$	(3,800	)
支付给税务机构的州所得税 (a)		(6,325	)			(3,300	)
支付的利息		(73,068	)			(99,385	)
非现金投资活动包括：
资本化资产弃置成本的增加		2,229				3,007
应计资本支出的增加		4,331				3,147

(a)

州所得税仅与宾夕法尼亚州有关。

(13) 承诺和或有事项

诉讼

我们正面临或涉及各种待决或威胁性的法律行动、行政程序或调查，这些均源于我们日常业务活动，包括但不限于特许权使用费索赔、合同索赔和环境索赔。尽管这些事项中许多都存在固有的不确定性，但我们认为，最终与这些行动、程序或索赔相关的责任金额，不会对我们的整体合并财务状况或我们的流动性、资本资源或未来年度经营成果产生重大不利影响。

在认为必要时，我们会为某些法律程序设立准备金。设立准备金是基于包括法律顾问建议和管理层主观判断的估算过程。虽然管理层认为这些准备金是充分的，但就已设立准备金的事项而言，我们有可能产生额外损失。我们将继续每季度评估我们的诉讼情况，并根据我们对诉讼现状的当前评估建立和调整任何诉讼准备金。

由于环境法律法规，我们已发生并将继续发生资本、运营和清理支出。截至2026年9月30日，清理相关的负债并不重大。我们未发现截至2026年9月30日存在未计提或 otherwise 对我们的财务状况或经营成果产生重大影响的环境索赔。环境负债通常涉及估算，这些估算在最终解决、和解或清理发生前可能需要修订。

运输、集输和加工合同

在2026年前九个月，我们未来15年内运输、集输和加工的最低承诺金额从约15亿美元增加至2025年12月31日，主要是由于2026年6月开始的天然气运输能力增加至2041年以及2026年9月开始的额外加工能力。这些承诺此前已在我们的10-K表中披露，且以建设完成为前提。

(14) 暂停的探索性井成本

我们将在确定该井已发现证实储量或该井已受损之前，将勘探井成本资本化。资本化的勘探井成本在附带的合并资产负债表中的天然气和石油资产中列示。如果确定勘探井已受损，则将井成本计入附带的合并损益表中的勘探费用。

我们认为这些井含有足够的天然气量，足以证明未来开发的合理性。剩余的悬置井需要完成作业和基础设施扩展，才能将储量归类为证实储量。下表反映了截至2026年9月30日的九个月和2025年12月31日的年度内资本化的勘探井成本的变化：

\n	\n	\n	\n	\n	\n	\n	\n	\n
		截至 2026年9月30日的九个月			截至 2025年12月31日的年度
		（以千为单位）
期初余额		$	19,292			$	12,569
待证实储量确定的资本化勘探井成本增加			9,888				6,723
根据证实储量确定的开发成本重新分类			(22,332	)			—
资本化的勘探井成本，计入费用			—				—
期末余额		$	6,848			$	19,292
资本化时间一年或更短的勘探井成本		$	—			$	—
资本化时间超过一年的勘探井成本		$	6,848			$	19,292
资本化时间超过一年的勘探井项目的数量			1				2

(15) 天然气和石油勘探、开发及生产活动

资本化成本和累计折旧、折耗及摊销 (a)

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n	\n	\n	\n	\n
	2026年9月30日			2025年12月31日
	（以千为单位）
天然气、NGLs 和石油资产：
需计提折旧、折耗及摊销的资产	$	12,142,062			$	11,635,187
未证实资产		834,765				832,757
总计		12,976,827				12,467,944
累计折耗及折旧		(6,035,461	)			(5,759,578	)
净资本化成本	$	6,941,366			$	6,708,366

(a)

包括资本化的资产退役成本及相关的累计摊销。

财产购置、勘探及开发的支出 (b)

\n	\n	\n	\n	\n	\n	\n	\n
	截至 2026年9月30日的九个月			截至 2025年12月31日的年度
	（以千为单位）
购置：
土地购买	$	17,554			$	51,802
开发		500,338				601,326
勘探：
钻井		36				6,723
费用		17,365				28,824
基于股票的薪酬费用		1,116				1,355
管道和设施：
开发		3,566				8,860
小计		539,975				698,890
资产退役义务		2,229				8,367
总支出	$	542,204			$	707,257

(b) 包括是否资本化或费用化的支出。

(16) 资产负债表日后事项

On October 25, 2026, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with EQT Corporation (“EQT”) to combine via an all-stock merger transaction (the “Merger”). EQT is a vertically integrated American natural gas company with upstream and midstream operations focused in the Appalachian Basin. Under terms of the Merger Agreement, at closing Company shareholders will receive a fixed exchange ratio of 0.987 shares of EQT common stock for each share of Company common stock. Upon completion, EQT shareholders will own approximately 73 percent of the combined company and Company shareholders will own approximately 27 percent on a fully diluted basis. The respective Boards of Directors of the Company and EQT unanimously approved the Merger, which is subject to the approval of the shareholders of each of the Company and EQT and the receipt of regulatory approvals, among other conditions. The Merger Agreement contains customary pre-closing covenants, including the obligation of the Company to conduct its business in the ordinary course and the obligations of each of the Company and EQT to refrain from taking certain specified actions without the consent of the other party. Until the approval by shareholders and subsequent closing, the Company must continue to operate as a stand-alone company. Under certain specified circumstances in which the Merger Agreement is terminated, the Company would be required to pay EQT a termination fee of $423 million, and EQT would be required to pay the Company a termination fee of $1.148 billion.

The Merger is expected to close during the first quarter of 2027, subject to shareholder and regulatory approvals and other customary closing conditions.

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Overview of Our Business

We are an independent natural gas, natural gas liquids and oil company engaged in the exploration, development and acquisition of natural gas, NGLs and oil properties in the Appalachian region of the United States. We operate in one segment and have a single company-wide management team that administers all properties as a whole rather than by discrete operating segments. We measure financial performance as a single enterprise and not on a geographical or an area-by-area basis.

Our overarching business objective is to build stockholder value through returns-focused development of properties. Our strategy to achieve our business objective is to generate consistent cash flows from reserves and production through internally generated drilling projects occasionally coupled with complementary acquisitions and divestitures. Currently, our investment portfolio is focused on high-quality natural gas and NGLs assets in the Commonwealth of Pennsylvania. Our revenues, profitability and future growth depend substantially on prevailing prices for natural gas, NGLs and oil and on our ability to economically find, develop, acquire, produce and sell these reserves.

Commodity prices have been and are expected to remain volatile. We believe we are well-positioned to manage challenges that could occur during price variations and that we can endure the continued fluctuations in current and future commodity prices by:

•

exercising discipline in our capital investments;

•

maintaining a competitive cost structure;

•

diversifying sales outlets;

•

managing price risk through the partial hedging of our production;

•

maintaining a strong balance sheet; and

•

optimizing drilling, completion and operational efficiencies.

Prices for natural gas, NGLs and oil fluctuate widely and affect:

•

our revenues, profitability and cash flow;

•

the amount of cash flow available to us for reinvestment or return to our stockholders;

•

the quantity of natural gas, NGLs and oil that we can economically produce;

•

the quantity of natural gas, NGLs and oil shown as proved reserves; and

•

our ability to borrow and raise additional capital, if needed.

We prepare our financial statements in conformity with U.S. GAAP, which requires us to make estimates and assumptions that affect our reported results of operations and the amount of our reported assets, liabilities and proved reserves. We use the successful efforts method of accounting for our natural gas, NGLs and oil activities. The following discussion and analysis of our financial condition and results of operations should be read in conjunction with the preceding consolidated financial statements and notes in Item 1.

Merger with EQT

On October 25, 2026, we entered into an Agreement and Plan of Merger (the “Merger Agreement”) with EQT Corporation (“EQT”) to combine via an all-stock merger transaction (the “Merger”). For additional information about the Merger, see Note 16 to our consolidated financial statements in Item 1 of Part I and Risk Factors in Item 1A of Part II.

Market Conditions

We believe we are positioned for sustainable long-term success. We continue to monitor the impact of the actions of OPEC and other large hydrocarbon producing nations; the Russia-Ukraine war; military action in, and flows of energy from, the Middle East; global inventories of natural gas, NGLs and oil; future U.S. infrastructure investment; future monetary and fiscal policy; tariffs and their impacts on global trade and energy demand; and governmental policies aimed at the energy sector, including those focused on transitioning towards lower carbon energy. We expect prices for the commodities we produce to remain volatile given the complex dynamics of supply and demand that exist in the global energy markets. Longer-term natural gas futures prices remain constructive based on market expectations of continued liquefied natural gas (\"LNG\") export expansion and increasing global power demand, while associated gas-related activity in oil basins and dry gas basin activity are expected to show modest rates of growth due to infrastructure constraints, moderated reinvestment rates and inventory deterioration. In addition, the global energy shortage experienced in recent years and geopolitical disruptions of energy flows from key producing regions further highlighted the need for affordable and reliable fuel sources, supporting continued strong structural demand growth for U.S. LNG exports, as well as domestic electricity generation. Other factors such as supply chain disruptions, cost inflation, concerns over a potential economic recession and the pace of changes in global monetary policy

may impact global demand for natural gas, NGLs and oil. We continue to assess and monitor the impact of these factors on our business and operations.

Benchmarks decreased for natural gas and increased for NGLs and oil in third quarter 2026 when compared to the same period of the prior year. In the third quarter 2026, average natural gas prices decreased year-over-year primarily due to U.S. production growth and uncertain forecasts of winter weather related demand. Conversely, NGLs and oil prices rose due to global demand for U.S production. Benchmarks increased for natural gas, oil and NGLs in first nine months 2026 when compared to the same period of the prior year.

The following table lists related benchmarks for natural gas, oil and NGLs composite prices for the three and nine months ended September 30, 2026 and 2025:

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	Three Months Ended September 30,			Nine Months Ended September 30,
	2026			2025			2026			2025
Benchmarks:
Average NYMEX prices (a)
Natural gas (per mcf)	$	2.95			$	3.07			$	3.57			$	3.39
Oil (per bbl)		85.60				64.98				83.57				66.32
Mont Belvieu NGLs composite (per gallon) (b)		0.62				0.52				0.59				0.57

(a)

Based on weighted average of bid week prompt month prices on the New York Mercantile Exchange (\"NYMEX\").

(b)

Based on our estimated NGLs product composition per barrel.

Prices for natural gas, NGLs and oil that we produce significantly impact our revenues and cash flows. Our price realizations (not including the impact of our derivatives) may differ from these benchmarks for many reasons, including quality, location or production being sold at different indices.

Consolidated Results of Operations

Overview of Third Quarter 2026 Results

In third quarter 2026, we experienced an increase in revenue from the sale of natural gas, NGLs and oil compared to the same quarter of 2025, due to a 5% increase in net realized prices (average prices including all derivative settlements and third-party transportation costs paid by us) combined with a 12% increase in total production.

During third quarter 2026, we recognized net income of $175.3 million, or $0.75 per diluted common share compared to net income of $144.3 million, or $0.60 per diluted common share during third quarter 2025. The higher net income in third quarter 2026 compared to third quarter 2025 is primarily due to increased realized prices combined with an increase in production.

Our third quarter 2026 financial and operating performance included the following results:

•

revenue from the sale of natural gas, NGLs and oil increased 21% from the same period of 2025 due to an 8% increase in average realized prices (before cash settlements on our derivatives) combined with a 12% increase in production volumes;

•

revenue from the sale of natural gas, NGLs and oil (including cash settlements on our derivatives) increased 17% from the same period of 2025;

•

direct operating expense per mcfe increased to $0.13 during third quarter 2026 compared to $0.12 during the same period of 2025, primarily due to higher workovers and increased water hauling costs due to higher diesel prices;

•

transportation, gathering, processing and compression per mcfe was $1.52 in third quarter 2026 compared to $1.47 in the same period of 2025, primarily due to increased processing costs that are driven by higher commodity prices;

•

general and administrative expense per mcfe decreased to $0.21 in third quarter 2026 compared to $0.22 in the same period of 2025, primarily due to higher production volumes and lower legal expenses; and

•

interest expense per mcfe decreased 50% from the same period of 2025 due to lower debt balances and lower interest rates.

Third quarter 2026 also included the following returns of capital and balance sheet highlights:

•

paid $23.4 million of dividends, an 11% higher dividend of $0.10 per share compared to $0.09 per share in the same period of 2025; and

•

maintained substantial liquidity with $1.5 billion available under our credit facility.

We generated $307.6 million of cash from operating activities in third quarter 2026, an increase of $60.1 million from third quarter 2025, which reflects the impact of higher realized prices.

Overview of First Nine Months 2026 Results

In first nine months 2026, we experienced an increase in revenue from the sale of natural gas, NGLs and oil compared to the same period of 2025 due to a 13% increase in net realized prices (average prices including all derivative settlements and third-party transportation costs paid by us) and a 6% increase in total production.

During first nine months 2026, we recognized net income of $712.3 million, or $3.02 per diluted common share compared to net income of $478.9 million, or $1.99 per diluted common share during the same period 2025. The higher net income in first nine months 2026 compared to first nine months 2025 is primarily due to increased realized prices combined with an increase in total production.

Our first nine months 2026 financial and operating performance included the following results:

•

revenue from the sale of natural gas, NGLs and oil increased 18% from the same period of 2025 due to a 12% increase in average realized prices (before cash settlements on our derivatives) combined with a 6% increase in production volumes;

•

revenue from the sale of natural gas, NGLs and oil (including cash settlements on our derivatives) increased 15% from the same period of 2025;

•

direct operating expense per mcfe increased to $0.14 in first nine months 2026 compared to $0.12 the same period of 2025, primarily due to higher workovers, equipment maintenance, and increased water hauling costs due to higher diesel prices;

•

transportation, gathering, processing and compression per mcfe increased to $1.55 in first nine months 2026 compared to $1.51 in the same period of 2025, primarily due to an increase in processing costs that are driven by higher commodity prices;

•

general and administrative expense per mcfe increased to $0.22 in first nine months 2026 compared to $0.21 in the same period of 2025, primarily due to higher employee-related costs, software costs and office rent expense; and

•

interest expense per mcfe decreased 38% from the same period of 2025 due to lower debt balances and lower interest rates.

First nine months 2026 also included the following returns of capital and balance sheet highlights:

•

repurchased $105.5 million (2.8 million shares) of our common stock;

•

paid $70.8 million of dividends, increasing per share dividend by 11% to a cumulative $0.30 per share compared to $0.27 per share in the same period of 2025;

•

reduced our higher interest rate debt by redeeming $600 million principal balance of our 8.25% senior notes due 2029 by utilizing borrowings under the credit facility, while retaining $1.5 billion in available liquidity under our credit facility.

We generated $1.2 billion of cash from operating activities in first nine months 2026, an increase of $247.9 million from first nine months 2025, which reflects the impact of higher realized prices.

Natural Gas, NGLs and Oil Sales, Production and Realized Price Calculations

Our revenues vary primarily as a result of changes in realized commodity prices and production volumes. Our revenues are generally recognized when control of the product is transferred to the customer and collectability is reasonably assured. The following table illustrates the primary components of natural gas, NGLs and oil sales for the three and nine months ended September 30, 2026 and 2025 (in thousands):

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	Three Months Ended September 30,			Nine Months Ended September 30,
	2026			2025			Change			%			2026			2025			Change			%
Natural gas, NGLs and oil sales
Natural gas	$	371,772			$	361,124			$	10,648				3	%		$	1,415,649			$	1,249,456			$	166,193				13	%
NGLs		320,962				224,375				96,587				43	%			893,016				738,064				154,952				21	%
Oil		45,185				25,992				19,193				74	%			141,593				82,529				59,064				72	%
Total natural gas, NGLs and oil sales	$	737,919			$	611,491			$	126,428				21	%		$	2,450,258			$	2,070,049			$	380,209				18	%

Production growth is generated as new wells are placed in production, which is partially offset by the natural decline in production of existing wells. Our production for the three and nine months ended September 30, 2026 and 2025 is set forth in the following table:

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	Three Months Ended September 30,			Nine Months Ended September 30,
	2026			2025			Change			%			2026			2025			Change			%
Production (a)
Natural gas (mcf)		156,406,269				141,133,949				15,272,320				11	%			433,149,336				413,394,538				19,754,798				5	%
NGLs (bbls)		11,653,966				10,158,612				1,495,354				15	%			32,139,618				30,107,652				2,031,966				7	%
Oil (bbls)		597,916				479,142				118,774				25	%			1,928,670				1,483,512				445,158				30	%
Total (mcfe) (b)		229,917,561				204,960,473				24,957,088				12	%			637,559,064				602,941,522				34,617,542				6	%

Average daily production (a)
Natural gas (mcf)		1,700,068				1,534,065				166,003				11	%			1,586,628				1,514,266				72,362				5	%
NGLs (bbls)		126,674				110,420				16,254				15	%			117,728				110,284				7,444				7	%
Oil (bbls)		6,499				5,208				1,291				25	%			7,065				5,434				1,631				30	%
Total (mcfe) (b)		2,499,104				2,227,831				271,273				12	%			2,335,381				2,208,577				126,804				6	%

(a)

Represents volumes sold regardless of when produced.

(b)

Oil and NGLs volumes are converted to mcfe at the rate of one barrel equals six mcf based upon the approximate relative energy content of oil to natural gas, which is not indicative of the relationship between oil and natural gas prices.

Our average realized price received (including all derivative settlements and third-party transportation costs) during third quarter 2026 was $1.91 per mcfe compared to $1.82 per mcfe in third quarter 2025. Our average realized price received (including all derivative settlements and third-party transportation costs) during first nine months 2026 was $2.35 per mcfe compared to $2.08 per mcfe in first nine months 2025. Our average realized prices (excluding derivative settlements) do not include derivative settlements or third-party transportation costs which are reported in transportation, gathering, processing and compression expense in the accompanying consolidated statements of income. Our average realized prices (including derivative settlements) do not include transportation costs where we receive net revenue proceeds from purchasers. Our average realized prices (including derivative settlements and third-party transportation costs) calculation also includes all cash settlements for derivatives. We believe computed final realized prices should include the total impact of transportation, gathering, processing and compression expense. Our average realized price calculations for three and nine months ended September 30, 2026 and 2025 are shown below:

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	Three Months Ended September 30,			Nine Months Ended September 30,
	2026			2025			Change			%			2026			2025			Change			%
Average Prices
Average realized prices (excluding derivative settlements):
Natural gas (per mcf)	$	2.38			$	2.56			$	(0.18	)			(7	)%		$	3.27			$	3.02			$	0.25				8	%
NGLs (per bbl)		27.54				22.09				5.45				25	%			27.79				24.51				3.28				13	%
Oil (per bbl)		75.57				54.25				21.32				39	%			73.41				55.63				17.78				32	%
Total (per mcfe) (a)		3.21				2.98				0.23				8	%			3.84				3.43				0.41				12	%
Average realized prices (including derivative settlements):
Natural gas (per mcf)	$	2.74			$	2.96			$	(0.22	)			(7	)%		$	3.41			$	3.24			$	0.17				5	%
NGLs (per bbl)		27.47				22.48				4.99				22	%			27.54				24.68				2.86				12	%
Oil (per bbl)		69.33				57.61				11.72				20	%			64.25				57.46				6.79				12	%
Total (per mcfe) (a)		3.43				3.29				0.14				4	%			3.90				3.59				0.31				9	%
Average realized prices (including derivative settlements and third-party transportation costs paid by Range):
Natural gas (per mcf)	$	1.65			$	1.84			$	(0.19	)			(10	)%		$	2.28			$	2.11			$	0.17				8	%
NGLs (per bbl)		12.11				8.42				3.69				44	%			12.10				10.07				2.03				20	%
Oil (per bbl)		68.07				55.31				12.76				23	%			63.01				55.67				7.34				13	%
Total (per mcfe) (a)		1.91				1.82				0.09				5	%			2.35				2.08				0.27				13	%

(a)

Realized prices include the impact of basis differentials and gains or losses realized from our basis hedging. The prices we receive for our natural gas can be more or less than the NYMEX price because of adjustments for delivery location, relative quality and other factors. The following table provides this impact on a per mcf basis:

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	Three Months Ended September 30,			Nine Months Ended September 30,
	2026			2025			2026			2025
Average natural gas differentials below NYMEX	$	(0.57	)		$	(0.51	)		$	(0.30	)		$	(0.37	)
Realized gains (losses) on basis hedging	$	0.02			$	0.02			$	—			$	(0.02	)

The following tables reflect our production and average sales prices (excluding derivative settlements and third-party transportation costs paid by Range) (in thousands, except prices):

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	Three Months Ended September 30,			Nine Months Ended September 30,
	2025			Price Variance			Volume Variance			2026			2025			Price Variance			Volume Variance			2026
Natural gas
Price (per mcf)	$	2.56			$	(0.18	)		$	—			$	2.38			$	3.02			$	0.25			$	—			$	3.27
Production (Mmcf)		141,134				—				15,272				156,406				413,395				—				19,754				433,149
Natural gas sales	$	361,124			$	(28,430	)		$	39,078			$	371,772			$	1,249,456			$	106,485			$	59,708			$	1,415,649

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	Three Months Ended September 30,			Nine Months Ended September 30,
	2025			Price Variance			Volume Variance			2026			2025			Price Variance			Volume Variance			2026
NGLs
Price (per bbl)	$	22.09			$	5.45			$	—			$	27.54			$	24.51			$	3.28			$	—			$	27.79
Production (Mbbls)		10,159				—				1,495				11,654				30,108				—				2,032				32,140
NGLs sales	$	224,375			$	63,559			$	33,028			$	320,962			$	738,064			$	105,140			$	49,812			$	893,016

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	Three Months Ended September 30,			Nine Months Ended September 30,
	2025			Price Variance			Volume Variance			2026			2025			Price Variance			Volume Variance			2026
Oil
Price (per bbl)	$	54.25			$	21.32			$	—			$	75.57			$	55.63			$	17.78			$	—			$	73.41
Production (Mbbls)		479				—				119				598				1,484				—				445				1,929
Oil sales	$	25,992			$	12,750			$	6,443			$	45,185			$	82,529			$	34,299			$	24,765			$	141,593

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	Three Months Ended September 30,			Nine Months Ended September 30,
	2025			Price Variance			Volume Variance			2026			2025			Price Variance			Volume Variance			2026
Consolidated
Price (per mcfe)	$	2.98			$	0.23			$	—			$	3.21			$	3.43			$	0.41			$	—			$	3.84
Production (Mmcfe)		204,960				—				24,958				229,918				602,942				—				34,617				637,559
Total natural gas, NGLs and oil sales	$	611,491			$	51,970			$	74,458			$	737,919			$	2,070,049			$	261,358			$	118,851			$	2,450,258

Transportation, gathering, processing and compression expense was $349.9 million in third quarter 2026 compared to $301.1 million in third quarter 2025. These third-party costs were higher in third quarter 2026 compared to third quarter 2025 due to an increase in processing costs resulting from higher volumes along with higher commodity price-linked cost.

Transportation, gathering, processing and compression expense was $990.1 million in first nine months 2026 compared to $911.9 million in first nine months 2025. These third-party costs associated with NGLs were higher in first nine months 2026 compared to first nine months 2025 due to an increase in processing costs resulting from higher volumes along with higher commodity price-linked cost. Third-party costs associated with natural gas increased due to an increase in volumes and facility and equipment costs associated with gathering. We have included these costs in the calculation of average realized prices (including derivative settlements and third-party transportation expenses paid by Range). The following table summarizes transportation, gathering, processing and compression expense for the three and nine months ended September 30, 2026 and 2025 on a per mcf and per barrel basis (in thousands, except for costs per unit):

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	Three Months Ended September 30,			Nine Months Ended September 30,
	2026			2025			Change			%			2026			2025			Change			%
Transportation, gathering processing and compression
Natural gas	$	170,125			$	157,194			$	12,931				8	%		$	491,422			$	469,416			$	22,006				5	%
NGLs		179,054				142,815				36,239				25	%			496,252				439,862				56,390				13	%
Oil		755				1,101				(346	)			(31	)%			2,401				2,655				(254	)			(10	)%
Total	$	349,934			$	301,110			$	48,824				16	%		$	990,075			$	911,933			$	78,142				9	%

Natural gas (per mcf)	$	1.09			$	1.11			$	(0.02	)			(2	)%		$	1.13			$	1.14			$	(0.01	)			(1	)%
NGLs (per bbl)		15.36				14.06				1.30				9	%			15.44				14.61				0.83				6	%
Oil (per bbl)		1.26				2.30				(1.04	)			(45	)%			1.24				1.79				(0.55	)			(31	)%
Total (per mcfe)	$	1.52			$	1.47			$	0.05				3	%		$	1.55			$	1.51				0.04				3	%

Derivative fair value income was $58.1 million in third quarter 2026 compared to income of $92.9 million in third quarter 2025. Derivative fair value income was $98.2 million in first nine months 2026 compared to income of $88.7 million in first nine months 2025. All of our derivatives are accounted for using the mark-to-market accounting method. Mark-to-market accounting treatment can result in more volatility of our revenues as the change in the fair value of our commodity derivative positions is included in total revenue. As commodity prices increase or decrease, such changes will have an opposite effect on the mark-to-market value of our derivatives. Gains on our derivatives generally indicate potentially lower wellhead revenues in the future while derivative losses indicate potentially higher future wellhead revenues. The following table summarizes the impact of our commodity derivatives for the three and nine months ended September 30, 2026 and 2025 (in thousands):

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	Three Months Ended September 30,			Nine Months Ended September 30,
	2026			2025			2026			2025
Derivative fair value income per consolidated statements of income	$	58,118			$	92,946			$	98,229			$	88,736

Non-cash fair value income (loss): (a)
Natural gas derivatives	$	11,032			$	33,981			$	63,260			$	(9,336	)
NGLs derivatives		(4,763	)			(1,229	)			(2,983	)			—
Oil derivatives		(6	)			(1,839	)			103				—
Total non-cash fair value income (loss) (a)	$	6,263			$	30,913			$	60,380			$	(9,336	)

Net cash receipt (payment) on derivative settlements:
Natural gas derivatives	$	56,384			$	56,420			$	63,504			$	90,263
NGLs derivatives		(797	)			4,000				(7,986	)			5,096
Oil derivatives		(3,732	)			1,613				(17,669	)			2,713
Total net cash receipt	$	51,855			$	62,033			$	37,849			$	98,072

(a)

Non-cash fair value adjustments on commodity derivatives is a non-U.S. GAAP measure. Non-cash fair value adjustments on commodity derivatives only represent the net change between periods of the fair market values of commodity derivative positions and exclude the impact of settlements on commodity derivatives during the period. We believe that non-cash fair value adjustments on commodity derivatives is a useful supplemental disclosure to differentiate non-cash fair market value adjustments from settlements on commodity derivatives during the period. Non-cash fair value adjustments on commodity derivatives is not a measure of financial or operating performance under U.S. GAAP, nor should it be considered a substitute for derivative fair value income or loss as reported in our consolidated statements of income.

Brokered natural gas, NGLs and marketing revenue was $46.5 million in third quarter 2026 compared to $43.8 million in third quarter 2025, which is primarily the result of higher broker natural gas sales volumes (volumes not related to our production) slightly offset by lower broker natural gas sales prices. Brokered natural gas, NGLs and marketing revenue was $161.2 million in first nine months 2026 compared to $131.2 million in first nine months 2025, which is the result of higher broker natural gas sales volumes (volumes not related to our production) slightly offset by lower broker natural gas sales prices. We continue to optimize our transportation portfolio using these volumes. See also Brokered natural gas, NGLs and marketing expense below for more information on our net brokered margin.

Other income was $266,000 in third quarter 2026 compared to $284,000 in third quarter 2025. This includes $39,000 of interest income and a $3,000 gain on sale of assets in third quarter 2026 compared to $52,000 of interest income and a $6,000 loss on sale of assets in third quarter 2025. Other income was $832,000 in first nine months 2026 compared to $5.3 million in first nine months 2025. This includes $121,000 of interest income and a $32,000 gain on sale of assets in first nine months 2026 compared to $4.9 million of interest income and a $158,000 gain on sale of assets in first nine months 2025.

Operating Costs per Mcfe

We believe some of our expense fluctuations are best analyzed on a unit-of-production or per mcfe basis. The following table presents information about certain of our expenses on a per mcfe basis for the three and nine months ended September 30, 2026 and 2025:

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	Three Months Ended September 30,			Nine Months Ended September 30,
	2026			2025			Change			%			2026			2025			Change			%
Direct operating expense	$	0.13			$	0.12			$	0.01				8	%		$	0.14			$	0.12			$	0.02				17	%
Taxes other than income		0.03				0.04				(0.01	)			(25	)%			0.03				0.04				(0.01	)			(25	)%
General and administrative expense		0.21				0.22				(0.01	)			(5	)%			0.22				0.21				0.01				5	%
Interest expense		0.06				0.12				(0.06	)			(50	)%			0.08				0.13				(0.05	)			(38	)%
Depletion, depreciation and amortization expense		0.44				0.46				(0.02	)			(4	)%			0.44				0.46				(0.02	)			(4	)%

Direct operating expense was $30.9 million in third quarter 2026 compared to $23.8 million in third quarter 2025. Direct operating expenses include normally recurring expenses to operate and produce our wells, non-recurring workover costs and repair-related expenses. Our direct operating costs increased in third quarter 2026 primarily due to increased water hauling costs due to higher diesel prices and higher workovers. We completed workovers at a cost of $1.8 million in third quarter 2026 compared to $1.0 million in third quarter 2025.

Direct operating expense was $87.4 million in first nine months 2026 compared to $72.3 million in first nine months 2025. Our direct operating costs increased in first nine months 2026 primarily due to increased water hauling costs due to higher diesel prices, higher workovers and higher equipment maintenance. We completed workovers at a cost of $4.2 million workover costs in first nine months 2026 compared to $2.6 million in first nine months 2025. The following table summarizes direct operating expense per mcfe for the three and nine months ended September 30, 2026 and 2025:

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	Three Months Ended September 30,			Nine Months Ended September 30,
	2026			2025			Change			%			2026			2025			Change			%
Direct operating
Lease operating expense	$	0.12			$	0.11			$	0.01				9	%		$	0.13			$	0.12			$	0.01				8	%
Workovers		0.01				—				0.01				100	%			0.01				—				0.01				100	%
Stock-based compensation		—				0.01				(0.01	)			(100	)%			—				—				—				—	%
Total direct operating expense	$	0.13			$	0.12			$	0.01				8	%		$	0.14			$	0.12			$	0.02				17	%

Taxes other than income expense is predominantly comprised of the Pennsylvania impact fee which functions as a tax on unconventional natural gas and oil production in Pennsylvania. This impact fee was $7.0 million in third quarter 2026 compared to $7.9 million in third quarter 2025 and $19.4 million in first nine months 2026 compared to $22.2 million in first nine months 2025. The impact fee is based on drilling activities and is adjusted based on prevailing natural gas prices, which is consistent with the prior year. This category also includes franchise, real estate and other applicable taxes. The following table summarizes taxes other than income per mcfe for the three and nine months ended September 30, 2026 and 2025:

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	Three Months Ended September 30,			Nine Months Ended September 30,
	2026			2025			Change			%			2026			2025			Change			%
Taxes other than income
Impact fee	$	0.03			$	0.04			$	(0.01	)			(25	)%		$	0.03			$	0.04			$	(0.01	)			(25	)%
Other		—				—				—				—	%			—				—				—				—	%
Total taxes other than income	$	0.03			$	0.04			$	(0.01	)			(25	)%		$	0.03			$	0.04			$	(0.01	)			(25	)%

General and administrative (\"G&A\") expense was $47.7 million in third quarter 2026 compared to $44.7 million in third quarter 2025. The third quarter 2026 increase of $3.0 million compared to the same period of 2025 is primarily due to higher employee-related costs slightly offset by lower legal expenses.

G&A expense was $140.7 million in first nine months 2026 compared to $128.5 million in first nine months 2025. The increase of $12.2 million is primarily due to higher employee-related costs, software costs and office rent expense. The following table summarizes G&A expense on a per mcfe basis for the three and nine months ended September 30, 2026 and 2025:

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	Three Months Ended September 30,			Nine Months Ended September 30,
	2026			2025			Change			%			2026			2025			Change			%
General and administrative
General and administrative	$	0.16			$	0.17			$	(0.01	)			(6	)%		$	0.17			$	0.16			$	0.01				6	%
Stock-based compensation		0.05				0.05				—				—	%			0.05				0.05				—				—	%
Total general and administrative expense	$	0.21			$	0.22			$	(0.01	)			(5	)%		$	0.22			$	0.21			$	0.01				5	%

Interest expense was $14.6 million in third quarter 2026 compared to $24.3 million in third quarter 2025. Interest expense was $48.5 million in first nine months 2026 compared to $80.2 million in first nine months 2025. The following table presents information about interest expense per mcfe for the three and nine months ended September 30, 2026 and 2025:

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	Three Months Ended September 30,			Nine Months Ended September 30,
	2026			2025			Change			%			2026			2025			Change			%
Bank credit facility (a)	$	0.03			$	0.02			$	0.01				50	%		$	0.04			$	0.01			$	0.03				300	%
Senior notes		0.03				0.09				(0.06	)			(67	)%			0.03				0.11				(0.08	)			(73	)%
Amortization of debt issuance costs and other		—				0.01				(0.01	)			(100	)%			0.01				0.01				—				—	%
Total interest expense	$	0.06			$	0.12			$	(0.06	)			(50	)%		$	0.08			$	0.13			$	(0.05	)			(38	)%
Average debt outstanding ($000)	$	900,151			$	1,278,826			$	(378,675	)			(30	)%		$	1,003,303			$	1,495,083			$	(491,780	)			(33	)%
Average interest rate (b)		6.1	%			7.3	%			(1.2	)%			(16	)%			6.1	%			6.8	%			(0.7	)%			(10	)%

(a)

Includes commitment fees.

(b)

Excludes debt issuance costs.

The decrease in interest expense for three and nine months ended September 30, 2026 compared to the same periods of 2025 was primarily due to lower average outstanding debt balances and lower average interest rates. In January 2026, we repaid the $600 million principal balance of our 8.25% senior notes due 2029 by utilizing borrowings on our credit facility. In May 2025, we repaid the remaining principal balance of $606.5 million of our 4.875% senior notes due 2025 by utilizing cash on hand and borrowing on our credit facility. We had $294.0 million outstanding on the bank credit facility as of September 30, 2026 compared to $129.0 million outstanding for the same period of 2025.

Depletion, depreciation and amortization (\"DD&A\") expense was $102.0 million in third quarter 2026 compared to $93.8 million in third quarter 2025 and $283.7 million in first nine months 2026 compared to $275.9 million in first nine months 2025. This increase in expense for the quarter and nine months ended September 30, 2026 compared to the same periods of the prior year was due to higher production volumes slightly offset by lower depletion rates. Depletion expense, the largest component of DD&A expense, was $0.43 per mcfe in third quarter 2026 and first nine months 2026 compared to $0.45 per mcfe in the same periods of 2025. We have historically adjusted our depletion rates in the fourth quarter of each year based on the year-end reserve report and at other times during the year when circumstances indicate there has been a significant change in reserves or costs. The following table summarizes DD&A expense per mcfe for the three and nine months ended September 30, 2026 and 2025:

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	Three Months Ended September 30,			Nine Months Ended September 30,
	2026			2025			Change			%			2026			2025			Change			%
DD&A
Depletion and amortization	$	0.43			$	0.45			$	(0.02	)			(4	)%		$	0.43			$	0.45			$	(0.02	)			(4	)%
Depreciation		—				—				—				—	%			—				—				—				—	%
Accretion and other		0.01				0.01				—				—	%			0.01				0.01				—				—	%
Total DD&A expense	$	0.44			$	0.46			$	(0.02	)			(4	)%		$	0.44			$	0.46			$	(0.02	)			(4	)%

Other Operating Expenses

Our total operating expenses also include other expenses that generally do not trend with production. These expenses include stock-based compensation, brokered natural gas, NGLs and marketing expense, exploration expense, abandonment and impairment of unproved properties, exit costs, deferred compensation plan expense and gain on early extinguishment of debt. Stock-based compensation includes the amortization of restricted stock grants and performance units. See Note 9 to our consolidated financial statements for more information on allocation of stock-based compensation by functional expense categories.

Brokered natural gas, NGLs and marketing expense was $48.2 million in third quarter 2026 compared to $48.9 million in third quarter 2025 which is primarily the result of higher broker natural gas sales volumes (volumes not related to our production) slightly offset by lower broker natural gas sales prices. Brokered natural gas, NGLs and marketing expense was $165.7 million in first nine months 2026 compared to $142.1 million in first nine months 2025 which is primarily the result of higher broker natural gas sales volumes (volumes not related to our production) slightly offset by lower broker natural gas sales prices. The following table details our brokered natural gas, NGLs and marketing net margin for the three and nine months ended September 30, 2026 and 2025 (in thousands):

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	Three Months Ended September 30,			Nine Months Ended September 30,
	2026			2025			2026			2025
Brokered natural gas, NGLs and marketing
Brokered natural gas sales	$	42,890			$	41,602			$	149,625			$	124,438
Brokered NGLs sales		1,425				758				5,118				2,289
Other marketing revenue		2,208				1,447				6,505				4,497
Brokered natural gas purchases and transportation		(43,329	)			(44,695	)			(150,874	)			(130,522	)
Brokered NGLs purchases		(1,279	)			(683	)			(4,991	)			(2,048	)
Other marketing expense		(3,598	)			(3,504	)			(9,801	)			(9,498	)
Brokered natural gas, NGLs and marketing net margin	$	(1,683	)		$	(5,075	)		$	(4,418	)		$	(10,844	)

Exploration expense was $6.0 million in third quarter 2026 compared to $8.1 million in third quarter 2025 primarily due to lower delay rentals. Exploration expense was $18.5 million in first nine months 2026 compared to $22.4 million in first nine months 2025 primarily due to lower delay rentals. The following table details our exploration expense for the three and nine months ended September 30, 2026 and 2025 (in thousands):

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
	Three Months Ended September 30,			Nine Months Ended September 30,
	2026			2025			Change			%			2026			2025			Change			%
Exploration
Delay rentals and other	$	3,938			$	5,397			$	(1,459	)			(27	)%		$	12,447			$	16,056			$	(3,609	)			(22	)%
Seismic		410				866				(456	)			(53	)%			430				994				(564	)			(57	)%
Personnel expense		1,209				1,557				(348	)			(22	)%			4,488				4,376				112				3	%
Stock-based compensation expense		396				285				111				39	%			1,116				998				118				12	%
Total exploration expense	$	5,953			$	8,105			$	(2,152	)			(27	)%		$	18,481			$	22,424			$	(3,943	)			(18	)%

Abandonment and impairment of unproved properties expense was $5.8 million in third quarter 2026 compared to $4.9 million in third quarter 2025. Abandonment and impairment of unproved properties expense was $14.2 million in first nine months 2026 compared to $16.3 million in first nine months 2025. Abandonment and impairment of unproved properties for third quarter 2026 increased compared to the same period of 2025 due to higher expected lease expirations in Pennsylvania and first nine months 2026 decreased compared to the same period of 2025 due to lower than expected lease expirations in Pennsylvania. When we do not intend to drill on a property prior to expiration, we have allowed acreage to expire. We also expect to strategically allow expirations in the future, as we believe certain acreage needed for our future development plans can be efficiently leased again prior to development.

Exit costs were $6.3 million in third quarter 2026 compared to $8.1 million in third quarter 2025. Exit costs were $22.9 million in first nine months 2026 compared to $25.5 million in first nine months 2025. These costs are associated with normal accretion expense primarily related to retained liabilities for certain gathering, transportation and processing obligations extending through 2030. There was an additional $2.9 million of exit costs incurred in second quarter 2026 associated with the change in expected throughput volumes associated with this obligation.

Deferred compensation plan had a gain of $52,000 in third quarter 2026 compared to a gain of $765,000 in third quarter 2025. Deferred compensation plan expense was $735,000 in first nine months 2026 compared to an expense of $2.0 million in first nine months 2025. This non-cash item relates to the increase or decrease in value of the liability associated with our common stock that is vested and held in our deferred compensation plan. The deferred compensation liability is adjusted to fair value by a charge or a credit to deferred compensation plan expense based on the number of vested shares in the plan at the time. The change in both periods is related to the change in Range stock price at the end of each period combined with fewer shares being held within the deferred compensation plan. The deferred compensation plan held 195,000 shares (186,000 vested shares) of Range common stock as of September 30, 2026 compared to

266,000 shares (258,000 vested shares) as of September 30, 2025.

Income tax expense was $48.7 million in third quarter 2026 compared to an expense of $39.0 million in third quarter 2025. Income tax expense was $193.5 million in first nine months 2026 compared to an expense of $116.2 million in first nine months 2025. The 2026 effective tax rates were not materially different than the federal statutory rate. The 2025 effective tax rates were different than the statutory tax rates due to tax credits, state income taxes and equity compensation.

Management’s Discussion and Analysis of Financial Condition, Capital Resources and Liquidity

Commodity prices are the most significant factor impacting our revenues, net income, operating cash flows, and the amount of capital we have available to invest in our business, pay dividends and fund share or debt repurchases. Commodity prices have been and are expected to remain volatile. Our top priorities for using cash provided by operations are to fund our capital program, return capital to stockholders and maintain a strong balance sheet while making prudent investments in our business. We currently believe we have sufficient liquidity and capital resources to execute our business plan for the foreseeable future and across a wide range of commodity price scenarios. We continue to manage the duration and level of our drilling and completion commitments in order to maintain flexibility with regard to our activity level and capital expenditures.

Cash Flows

The following table presents sources and uses of cash and cash equivalents for the nine months ended September 30, 2026 and 2025 (in thousands):

\n	\n	\n	\n	\n	\n	\n	\n
	Nine Months Ended September 30,
	2026			2025
Sources of cash and cash equivalents
Operating activities	$	1,161,752			$	913,818
Disposal of assets		67				161
Borrowings on credit facility		2,262,000				885,000
Other		12,370				35,144
Total sources of cash and cash equivalents	$	3,436,189			$	1,834,123

Uses of cash and cash equivalents
Additions to natural gas, NGLs and oil properties	$	(506,436	)		$	(433,415	)
Repayments on credit facility		(2,086,000	)			(756,000	)
Acreage purchases		(21,192	)			(51,499	)
Additions to field service assets and other		(9,875	)			(2,036	)
Repayment of senior notes		(608,250	)			(608,699	)
Treasury stock purchases		(105,476	)			(176,613	)
Dividends paid		(70,834	)			(64,437	)
Other		(28,318	)			(45,739	)
Total uses of cash and cash equivalents	$	(3,436,381	)		$	(2,138,438	)

Sources of Cash and Cash Equivalents

Cash flows provided from operating activities in first nine months 2026 were $1.2 billion compared to $913.8 million in first nine months 2025. Cash provided from operating activities is largely dependent upon commodity prices and production volumes, net of the effects of settlement of our derivative contracts. As of September 30, 2026, we have hedged more than 30% of our projected production for the remainder of 2026. Changes in working capital (as reflected in our consolidated statements of cash flows) for first nine months 2026 was a negative $46.4 million compared to a negative $41.8 million for first nine months 2025.

Borrowings on credit facility in first nine months 2026 were $2.3 billion, of which $608.3 million was utilized for the early redemption of principal of our 8.25% senior notes due 2029. Borrowings net of repayments on the credit facility for first nine months 2026 brought the credit facility balance to $294.0 million as of September 30, 2026.

Uses of Cash and Cash Equivalents

Additions to natural gas, NGLs and oil properties for first nine months 2026 were consistent with expectations relative to our announced 2026 capital budget.

Repayment of senior notes for first nine months 2026 includes the early redemption of principal of our 8.25% senior notes due 2029 through utilization of borrowings on our credit facility.

Treasury stock purchases for first nine months 2026 include the repurchase and settlement of 2.8 million shares for a total of $105.5 million (excluding cost of the 1% excise tax) as part of our previously announced stock repurchase program.

Liquidity and Capital Resources

Our main sources of liquidity are cash on hand, internally generated cash flow from operations, our bank credit facility and capital market transactions. As of September 30, 2026, we had approximately $1.5 billion of liquidity consisting of $12,000 of cash on hand and $1.5 billion available under our bank credit facility. Our borrowing base can be adjusted as a result of changes in commodity prices, acquisitions or divestitures of proved properties or financing activities. We may draw on our bank credit facility to meet short-term cash requirements.

We expect our 2026 capital program to be funded by cash flows from operations. During the nine months ended September 30, 2026, we generated $1.2 billion of cash flows from operating activities.

Bank Credit Facility

Our bank credit facility is secured by substantially all of our assets. As of September 30, 2026, we had a balance of $294.0 million on our credit facility and we maintained a borrowing base of $3.0 billion and aggregate lender commitments of $2.0 billion. We had undrawn letters of credit of $165.1 million as of September 30, 2026, which reduced our borrowing capacity under our bank credit facility.

The borrowing base is subject to regular, annual re-determinations and is dependent on a number of factors but primarily the lenders' assessment of our future cash flows. On October 2, 2025, we entered into an amended and restated revolving bank credit facility, which continues to be secured by substantially all of our assets and has a maturity date of October 2, 2030. The amended credit facility maintains a maximum facility amount of $4.0 billion and an initial borrowing base of $3.0 billion, and increased bank commitments from $1.5 billion to $2.0 billion.

We currently must comply with certain financial and non-financial covenants, including limiting dividend payments, debt incurrence and requirements that we maintain certain financial ratios (as defined in our bank credit facility agreement). We were in compliance with all such covenants as of September 30, 2026.

Capital Requirements

We use cash for the development, exploration and acquisition of natural gas properties and for the payment of gathering, transportation and processing costs, operating, general and administrative costs, taxes and debt obligations, including interest, dividends and share repurchases. Expenditures for the development, exploration and acquisition of natural gas properties are the primary use of our capital resources. During first nine months 2026, we used operating cash flows to fund $537.5 million of capital expenditures as reported in our consolidated statement of cash flows within investing activities. The amount of our future capital expenditures will depend upon a number of factors including our cash flows from operating, investing and financing activities, infrastructure availability, supply and demand fundamentals and our ability to execute our development program. In addition, the impact of commodity prices on investment opportunities, the availability of capital and the timing and results of our development activities may lead to changes in funding requirements for future development. We periodically review our budget to assess changes in current and projected cash flows, debt requirements and other factors.

We may from time to time repurchase or redeem all or portions of our outstanding debt securities for cash, through exchanges for other securities or a combination of both. Such repurchases or redemptions may be made in open market transactions and will depend on prevailing market conditions, our liquidity requirements, contractual restrictions and other factors. The amounts involved may be material.

Cash Dividend Payments

On August 28, 2026, our Board of Directors announced the approval of a dividend of $0.10 per share payable on September 25, 2026, to stockholders of record at the close of business on September 11, 2026. The determination of the amount of future dividends, if any, to be declared and paid is at the sole discretion of the Board of Directors and primarily depends on cash flow, capital expenditures, debt covenants and various other factors.

Stock Repurchase Program

In February 2026, our Board of Directors approved an increase to our existing stock repurchase program to an aggregate $1.5 billion. Our total remaining share repurchase authorization was approximately $1.4 billion as of September 30, 2026.

Other Sources of Liquidity

We have a universal shelf registration statement filed with the SEC under which we, as a well-known seasoned issuer for purposes of SEC rules, have the future ability to sell an indeterminate amount of various types of debt and equity securities.

Cash Contractual Obligations

Our contractual obligations include long-term debt, operating leases, derivative obligations, asset retirement obligations and transportation, processing and gathering commitments including the divestiture contractual commitment that we incurred in conjunction with the sale of our North Louisiana assets. See Note 13 to our unaudited consolidated financial statements entitled \"Commitments and Contingencies\" for more information on commitments.

Interest Rates

As of September 30, 2026, we had approximately $500 million of senior notes which bore a fixed interest rate of 4.75%. Bank debt totaling $294.0 million bears interest at a floating rate, which was 5.6% as of September 30, 2026.

Off-Balance Sheet Arrangements

We do not currently utilize any significant off-balance sheet arrangements with unconsolidated entities to enhance our liquidity or capital resource position, or for any other purpose. However, as is customary in the oil and gas industry, we have various contractual work commitments, some of which are described above under Cash Contractual Obligations.

Changes in Prices and Costs

Our revenues, the value of our assets and our ability to obtain bank loans or additional capital on attractive terms have been and will continue to be affected by changes in natural gas, NGLs and oil prices and the costs to produce our reserves. Natural gas, NGLs and oil prices are subject to significant fluctuations that are beyond our ability to control or predict. Certain of our costs and expenses are affected by commodity prices, general inflation and tariffs. We expect costs for the remainder of 2026 to continue to be a function of supply and demand.

Forward-Looking Statements

This Quarterly Report on Form 10-Q, including certain sections of Management’s Discussion and Analysis of Financial Condition and Results of Operations, includes forward-looking statements concerning trends or events potentially affecting our business. Such forward-looking statements include, but are not limited to, statements regarding the proposed Merger between EQT and the Company, the expected closing of the Merger and the timing thereof and the pro forma combined company and its operations, strategies and plans, integration, debt levels and leverage ratio, capital expenditures, cash flows and anticipated uses thereof, synergies, opportunities and anticipated future performance, expected accretion to earnings and free cash flow and anticipated dividends. These statements typically contain words such as “anticipates,” “believes,” “expects,” “targets,” “plans,” “estimates,” “predicts,” “may,” “should,” “would” or similar words indicating that future outcomes are uncertain. In accordance with “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, these statements are accompanied by cautionary language identifying important factors, though not necessarily all such factors, which could cause future outcomes to differ materially from those set forth in the forward-looking statements. These important factors include, without limitation, the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement; the possibility that shareholders of EQT may not approve the issuance of EQT shares required in the Merger; the possibility that the shareholders of Range may not adopt the Merger Agreement; the risk that EQT or Range may be unable to obtain governmental and regulatory approvals required for the Merger, or required governmental and regulatory approvals may delay the Merger or result in the imposition of conditions that could cause the parties to abandon the Merger; the risk that the parties may not be able to satisfy the conditions to the Merger in a timely manner or at all; risks related to disruption of management’s time from ongoing business operations due to the Merger; the risk that any announcements relating to the Merger could have adverse effects on the market price of EQT’s or Range’s common stock; the risk of any unexpected costs or expenses resulting from the Merger; the risk of any litigation relating to the Merger; the risk that the Merger and its announcement could have an adverse effect on the ability of EQT and Range to retain and hire key personnel, on the ability of EQT or Range to attract third-party customers and maintain their relationships with derivatives and joint venture counterparties and on EQT’s and Range’s operating results and businesses generally; the risk that problems may arise in successfully integrating the businesses of EQT and Range, which may result in the combined company not operating as effectively and efficiently as expected; the risk that the combined company may be unable to achieve synergies or other anticipated benefits of the Merger or it may take longer than expected to achieve those synergies or benefits and other important factors that could cause actual results to differ materially from those projected; the volatility in commodity prices for crude oil and natural gas; the effect of future regulatory or legislative actions on EQT and Range or the industry in which they operate, including the risk of new restrictions with respect to oil and natural gas development activities; the risk that the credit ratings of the combined business may be different from what EQT and Range expect; the ability of management to execute its plans to meet its goals and other risks inherent in EQT’s and Range’s businesses; public health crises and any related government policies and actions; the potential disruption or interruption of EQT’s or Range’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond EQT’s or Range’s control; and the combined company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. While management believes that these forward-looking statements are reasonable when made, there can be no assurance that future developments affecting us will be those that we anticipate. All comments concerning our expectations for future revenues and operating results are based on our current forecasts for our existing operations and do not include the potential impact of any future events, including the Merger. We undertake no obligation to publicly update or revise any forward-looking statements after the date

they are made, whether as a result of new information, future events or otherwise. For additional risk factors affecting our business, see Part II, Item 1A. Risk Factors of this Quarterly Report on Form 10-Q and Item 1A. Risk Factors as set forth in our Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on February 24, 2026.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The primary objective of the following information is to provide forward-looking quantitative and qualitative information about our potential exposure to market risks. The term \"market risk\" refers to the risk of loss arising from adverse changes in natural gas, NGLs and oil prices and interest rates. The disclosures are not meant to be precise indicators of expected future losses, but rather indicators of reasonably possible losses. This forward-looking information provides indicators of how we view and manage our ongoing market-risk exposure. All of our market-risk sensitive instruments were entered into for purposes other than trading. All accounts are U.S. dollar denominated. These risks have not materially changed and should be read in conjunction with Item 7A Quantitative and Qualitative Disclosures about Market Risk as presented in the Form 10-K.

Market Risk

We are exposed to market risks related to natural gas, NGLs and oil prices, which are difficult to predict. We employ various strategies, including the use of commodity derivative instruments, to manage the risks related to these price fluctuations. These derivative instruments apply to a varying portion of our production and provide partial price protection. These arrangements can limit the benefit to us of increases in prices but offer protection in the event of price declines. Further, if our counterparties defaulted, this protection might be limited as we might not receive the benefits of the derivatives. Realized prices are influenced by the complex dynamics of supply and demand that exist in the global energy markets. Changes in natural gas prices affect us more than changes in oil prices because approximately 64% of our December 31, 2025 proved reserves are natural gas and 1% of proved reserves are oil. In addition, a portion of our NGLs, which are 35% of proved reserves, are also impacted by changes in oil and natural gas prices. At times, we are also exposed to market risks related to changes in interest rates. These risks did not change materially from December 31, 2025 to September 30, 2026.

NGLs prices are somewhat seasonal, particularly for propane. Therefore, the relationship of NGLs prices to NYMEX WTI (or West Texas Intermediate) will vary due to product components, seasonality and geographic supply and demand. We sell NGLs in several regional U.S. markets, some of which are exported to international markets by other parties. If we are not able to sell or store NGLs or we are unable to access NGLs infrastructure, we may be required to curtail production or shift our drilling activities to dry gas areas.

Commodity Price Risk

We use commodity-based derivative contracts to manage exposures to commodity price fluctuations. We do not enter into these arrangements for speculative or trading purposes. At times, certain of our derivatives are swaps where we receive a fixed price (or a fixed percentage of a price) for our production and pay market prices to the counterparty. Our derivatives program can also include collars, which establish a minimum floor price and a predetermined ceiling price. Our program may also include a three-way collar which is a combination of three options. We have also entered into natural gas derivative instruments containing a fixed price swap and a sold option (which we refer to as a swaption). As of September 30, 2026, our derivative program includes swaps, collars, three-way collars and swaptions. The fair value of these contracts, represented by the estimated amount that would be realized upon immediate liquidation based on a comparison of the contract price and a reference price, generally NYMEX for natural gas and oil or Mont Belvieu for NGLs, was an asset of $134.6 million as of September 30, 2026. These contracts expire monthly through December 2029. For additional information on our derivative contracts, see Note 7 to the accompanying consolidated financial statements.

Other Commodity Risk

We are impacted by basis risk, caused by factors that affect the relationship between commodity futures prices reflected in derivative commodity instruments and the cash market price of the underlying commodity. Natural gas transaction prices are frequently based on industry reference prices that may vary from prices experienced in local markets. If commodity price changes in one region are not reflected in other regions, derivative commodity instruments may no longer provide the expected hedge, resulting in increased basis risk. Therefore, in addition to the swaps, collars, three-way collars and swaptions discussed above, we have entered into natural gas basis swap agreements. The price we receive for our gas production can be more or less than the NYMEX Henry Hub price because of basis adjustments, relative quality and other factors. Basis swap agreements effectively fix the basis adjustments. The fair value of the natural gas basis swaps was a liability of $8.4 million as of September 30, 2026, and they settle through December 2030.

Commodity Sensitivity Analysis

The following table shows the fair value of our derivatives and the hypothetical changes in fair value that would result from a 10% and a 25% change in commodity prices as of September 30, 2026. We remain at risk for possible changes in the market value of commodity derivative instruments; however, such risks should be mitigated by price changes in the underlying physical commodity (in thousands):

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
				Hypothetical Change in Fair Value
				Increase in Commodity Price of			Decrease in Commodity Price of
	Fair Value			10%			25%			10%			25%
Swaps	$	104,888			$	(44,116	)		$	(110,289	)		$	44,116			$	110,289
Collars		(1,182	)			(6,618	)			(17,447	)			6,176				16,343
Three-way collars		31,976				(28,077	)			(71,252	)			24,647				53,595
Basis swaps		(8,352	)			6,076				15,191				(6,076	)			(15,191	)
Swaptions		(1,112	)			(7,997	)			(34,959	)			1,090				1,112

Our commodity-based derivative contracts expose us to the credit risk of non-performance by the counterparty to the contracts. Our exposure is diversified primarily among major investment grade financial institutions and we have master netting agreements with our counterparties that provide for offsetting payables against receivables from separate derivative contracts. Our derivative contracts are with multiple counterparties to minimize our exposure to any individual counterparty. As of September 30, 2026, our derivative counterparties included seventeen financial institutions, of which twelve were secured lenders in our bank credit facility. Counterparty credit risk is considered when determining the fair value of our derivative contracts. While our counterparties are primarily major investment grade financial institutions, the fair value of our derivative contracts has been adjusted to account for the risk of non-performance by certain of our counterparties, which was immaterial.

Interest Rate Risk

As of September 30, 2026, we had total debt of approximately $794.0 million, of which $500 million, or approximately 63%, were senior notes based on fixed interest rates and the remainder was based on variable interest rates. Our bank credit facility which provides for variable interest rate borrowings had a balance of $294.0 million as of September 30, 2026 and incurred interest at a rate of 5.6% as of September 30, 2026. The 30-day SOFR rate as of September 30, 2026 was approximately 3.9%. A 1% increase in short-term interest rates on the floating-rate debt outstanding on September 30, 2026 would result in approximately $2.9 million in additional annual interest expense.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

As required by Rule 13a-15(b) of the Securities Exchange Act of 1934, as amended (the \"Exchange Act\"), we have evaluated, under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of the end of the period covered by this Quarterly Report on Form 10-Q. Our disclosure controls and procedures are designed to provide reasonable assurance that the information required to be disclosed by us in reports that we file under the Exchange Act is accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure and is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the SEC. Based upon the evaluation, our principal executive officer and principal financial officer have concluded that our disclosure controls and procedures were effective as of September 30, 2026 at the reasonable assurance level.

Changes in Internal Control over Financial Reporting

There was no change in our system of internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act) during the three months ended September 30, 2026 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

PART II – OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

See Note 13 to our unaudited consolidated financial statements entitled \"Commitments and Contingencies\" included in Part I Item 1 above for a summary of our legal proceedings, such information being incorporated herein by reference.

Environmental Proceedings

From time to time, we receive notices of violation from governmental and regulatory authorities in areas in which we operate relating to alleged violations of environmental statutes or the rules and regulations promulgated thereunder. While we cannot predict with certainty whether these notices of violation will result in fines and/or penalties, if fines and/or penalties are imposed, they may result in monetary sanctions, individually or in the aggregate, in excess of $250,000.

ITEM 1A. RISK FACTORS

We are subject to various risks and uncertainties in the course of our business. In addition to the factors discussed elsewhere in this report, you should carefully consider the risks and uncertainties described under Item 1A. Risk Factors filed in our Annual Report on Form 10-K for the year ended December 31, 2025, as supplemented by the risk factors set forth below. Each of these risk factors could adversely affect our business, financial condition, results of operations and cash flows, as well as adversely affect the value of an investment in our common stock or debt securities.

Risks Related to the Proposed Merger

The Merger may not be completed and the Merger Agreement may be terminated in accordance with its terms. On October 25, 2026, we entered into an Agreement and Plan of Merger (the “Merger Agreement”) with EQT Corporation (“EQT”) to combine via an all-stock merger transaction (the “Merger”). The Merger is subject to a number of conditions to the closing, as specified in the Merger Agreement. These closing conditions include, among others, (1) the receipt of the required approvals from our shareholders and EQT’s shareholders, (2) the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, (3) the effectiveness of the registration statement on Form S-4 to be filed by EQT in connection with the Merger, (4) the approval for listing on the New York Stock Exchange of the EQT common stock to be issued in the Merger and (5) the absence of any governmental order or law that makes consummation of the Merger illegal or otherwise prohibited. We can provide no assurance that the required shareholder approvals will be obtained or that the required conditions to the closing will be satisfied. These conditions to the completion of the Merger, some of which are beyond our control, may not be satisfied or waived in a timely manner or at all, and, accordingly, the Merger may be delayed or may not be completed at all. In addition, either we or EQT may terminate the Merger Agreement if the Merger has not been completed within 12 months after the date of the Merger Agreement, subject to automatic extension to 18 months if the only conditions that remain unsatisfied relate to antitrust clearance or a legal restraint on completion of the Merger. Any delay in completing the Merger could cause the combined business not to realize, or to be delayed in realizing, some or all of the benefits that we expect to achieve if the Merger is successfully completed within its expected time frame.

We and EQT must obtain certain regulatory clearances to complete the Merger, which, if delayed, not granted or granted with unacceptable conditions, could prevent, substantially delay or impair the completion of the Merger, result in additional expenditures of money and resources or reduce the anticipated benefits of the Merger. At any time before or after the completion of the Merger, the U.S. Department of Justice or the Federal Trade Commission, or any state attorney general, could take such action under the antitrust laws as it deems necessary or desirable in the public interest, including but not limited to seeking to enjoin the completion of the Merger, seeking divestiture of substantial assets of the parties or requiring the parties to license, or hold separate, assets or terminate existing relationships and contractual rights. Private parties may also seek to take legal action under the antitrust laws under certain circumstances. Such conditions or changes and the process of obtaining regulatory clearances could have the effect of delaying or impeding the completion of the Merger or of imposing additional costs or limitations on us or EQT following the completion of the Merger, any of which might have an adverse effect on us or EQT following the completion of the Merger and may diminish the anticipated benefits of the Merger.

The termination of the Merger Agreement could negatively impact our business. If the Merger is not completed for any reason, including as a result of a failure to obtain the required approvals from our shareholders or EQT’s shareholders, our ongoing business may be adversely affected and, without realizing any of the expected benefits of having completed the Merger, we would be subject to a number of risks, including the following:

•

we may experience negative reactions from the financial markets, including negative impacts on our stock price;

•

we may experience negative reactions from our customers, suppliers, vendors, landlords, joint venture participants and other third parties with whom we do business, as well as our employees;

•

we will be required, in certain terminations, to pay EQT a termination fee of $423 million;

•

we will be required to pay our costs relating to the Merger, including financial advisory, legal and accounting fees and expenses, regardless of whether the Merger is completed; and

•

we may be subject to litigation related to any failure to complete the Merger or related to any enforcement proceeding commenced against us to perform our obligations under the Merger Agreement.

Our business relationships may be subject to disruption and uncertainty associated with the Merger, which could have a material adverse effect on our business, financial condition, cash flows and results of operations pending and following the Merger. Regardless of whether the Merger is completed, the announcement and pendency of the Merger could cause disruptions to our business and financial results, including as follows:

•

our current and prospective employees may experience uncertainty about their future roles with the combined business or the operations of the combined business following the Merger, which might adversely affect our ability to retain key management and other personnel;

•

uncertainty regarding the completion of the Merger may cause parties with which we do business, including customers, suppliers, vendors, landlords, joint venture participants and other third parties, to delay or defer certain business decisions or to decide to seek to terminate, change or renegotiate their relationships with us; and

•

the Merger Agreement may restrict us from pursuing attractive business opportunities or strategic transactions that may arise prior to completion of the Merger.

These disruptions could have a material and adverse effect on our business, financial condition, cash flows and results of operations, regardless of whether the Merger is completed, as well as a material and adverse effect on the combined company’s ability to realize the expected cost savings and other benefits of the Merger. The risk, and adverse effects, of any disruption could be exacerbated by a delay in completion of the Merger or termination of the Merger Agreement. In addition, we are dependent on the experience and industry knowledge of our officers and other key management, technical and professional personnel to execute our business plans, and the loss of key personnel could diminish the anticipated benefits of the Merger.

In addition, we have and will continue to divert significant management resources in an effort to complete the Merger. If the Merger is not completed, we will have incurred significant costs, including the diversion of management resources, for which we will have received little or no benefit.

Because the market price of EQT common stock has fluctuated and will continue to fluctuate, our shareholders cannot be sure of the value of the consideration they will receive in the Merger, if completed. If the Merger is completed, each eligible share of our common stock outstanding immediately prior to the Merger will automatically be converted into the right to receive 0.987 shares of EQT common stock. This exchange ratio is fixed and will not be adjusted for changes in the market price of either EQT common stock or our common stock. The value of the EQT common stock will depend on the market price at the time the Merger is completed. Prior to completion of the Merger, the market price of EQT common stock is also expected to impact the market price of our common stock. The value of EQT common stock has fluctuated since the date of the announcement of the Merger Agreement and will continue to fluctuate. Accordingly, our shareholders will not know or be able to determine the market value of the merger consideration that they would receive upon completion of the Merger. Stock price changes may result from a variety of factors, including, among others, general market and economic conditions, changes in EQT’s and our respective businesses, operations and prospects, market assessments of the likelihood that the Merger will be completed and the timing of the Merger and regulatory considerations. Many of these factors are beyond EQT’s and our control.

The market price for EQT common stock following the completion of the Merger may be affected by factors different from those that historically have affected or currently affect EQT common stock and our common stock. Upon completion of the Merger, our shareholders who receive EQT common stock will own interests in a combined company operating an expanded business with more assets and a different mix of liabilities. EQT’s financial position may differ from its financial position before the completion of the Merger, and the results of operations of the combined company may be affected by factors that are different from those currently affecting the results of operations of EQT and those currently affecting our results of operations. Accordingly, the market price and performance of EQT common stock is likely to be different from the performance of our common stock or EQT common stock in the absence of the Merger.

Our current shareholders will have reduced ownership and voting interest in the combined company and will exercise less influence over the combined company’s management. Based on the exchange ratio, the number of outstanding shares of our common stock and the number of outstanding shares of EQT common stock as of October 23, 2026, it is expected that immediately following the completion of the Merger, our shareholders would own approximately 27% of the issued and outstanding shares of the combined company on a fully diluted basis. As a result, our current shareholders will have less influence on the policies of the combined company than they currently have on our policies.

The Merger Agreement subjects us to restrictions on our business activities prior to the effective time of the Merger, limits our ability to pursue alternatives to the Merger and may discourage other companies from making a favorable alternative transaction proposal. The Merger Agreement restricts us from entering into certain corporate transactions and taking other specified actions without the consent of EQT, and generally requires us to continue our operations in the ordinary course, until completion of the Merger. These

restrictions could be in place for an extended period of time if completion of the Merger is delayed and could prevent us from pursuing attractive business opportunities that may arise prior to the completion of the Merger.

The Merger Agreement also contains provisions that may discourage a third party from submitting a competing proposal that might result in greater value to our shareholders than the Merger, or may result in a potential competing acquirer of Range proposing to pay a lower per share price to acquire us than it might otherwise have proposed to pay. These provisions include a general prohibition on us from soliciting or, subject to certain exceptions relating to the exercise of fiduciary duties by our Board of Directors, entering into discussions with any third party regarding any competing proposal or offer for a competing transaction, as well as the termination fee of $423 million that may become payable by us to EQT in certain circumstances. Further, even if our Board of Directors withholds, withdraws, qualifies or modifies its recommendation with respect to the Merger-related proposals to be voted on by our shareholders, unless the Merger Agreement has been terminated in accordance with its terms, we will still be required to submit such proposals to a vote of our shareholders.

The Merger may be completed even though material adverse changes subsequent to the announcement of the Merger, such as industry-wide changes or other events, may occur. In general, either party to the Merger can refuse to complete the transaction if there is a material adverse change affecting the other party. However, some types of changes do not permit either party to refuse to complete the transaction, even if such changes would have a material adverse effect on either of the parties. For example, a worsening of our financial condition or results of operations due to a decrease in commodity prices, changes in our industry generally or changes in general economic conditions would not give EQT the right to refuse to complete the transaction. In addition, the parties have the ability, but are under no obligation, to waive any material adverse change that results in the failure of a closing condition and instead proceed with completing the transaction. If adverse changes occur and the Merger is nonetheless completed, the share price, business and financial results of the combined company may suffer.

The failure to integrate the businesses and operations of EQT and Range successfully in the expected time frame may adversely affect the combined company’s future results. The Merger involves the combination of two companies which currently operate, and until the completion of the Merger will continue to operate, as independent public companies. We can provide no assurances that our business and EQT’s business can be integrated successfully. It is possible that the integration process could result in the loss of key Range employees or key EQT employees, the loss of customers, service providers, vendors or other business counterparties, the disruption of either company’s or both companies’ ongoing businesses, inconsistencies in standards, controls, procedures and policies, potential unknown liabilities and unforeseen expenses or delays associated with and following completion of the Merger or higher-than-expected integration costs and an overall post-completion integration process that takes longer than originally anticipated.

The combined business may fail to realize all of the anticipated benefits of the Merger. The success of the Merger will depend, in part, on the combined company’s ability to realize the anticipated benefits and cost savings from combining our business with EQT’s business and operational synergies. The anticipated benefits and cost savings of the Merger may not be realized fully or at all, may take longer to realize than expected or could have other adverse effects that we do not currently foresee. Some of the assumptions that have been made, such as the achievement of the anticipated benefits related to the combination of our assets and operations and the expected size, scale, inventory, cash flow generation and financial strength of the combined business, may not be realized. The integration process may result in the loss of key employees, the disruption of ongoing businesses or inconsistencies in standards, controls, procedures and policies. In addition, there could be potential unknown liabilities and unforeseen expenses associated with the Merger that could adversely impact the combined business.

Our directors and executive officers have interests in the Merger that may be different from, or in addition to, the interests of our shareholders generally. In considering the recommendation of our Board of Directors that our shareholders vote in favor of the adoption of the Merger Agreement, our shareholders should be aware of the fact that, aside from their interests as our shareholders, certain of our directors and executive officers have interests in the Merger that may be different from, or in addition to, the interests of our shareholders generally. These interests include, among others:

•

rights to continuing indemnification and directors’ and officers’ liability insurance;

•

the accelerated vesting and settlement in shares of EQT common stock of certain outstanding equity awards that, by their terms, vest upon a change in control, and the conversion of other outstanding equity awards into corresponding awards in respect of EQT common stock;

•

eligibility for severance payments and benefits under our change in control severance plans in the event of certain qualifying terminations of employment in connection with or following the completion of the Merger; and

•

Dennis L. Degner, our Chief Executive Officer and President, and one other individual selected by us are expected to be appointed to the EQT Board of Directors upon completion of the Merger.

Our Board of Directors was aware of and considered these potential interests, among other matters, in evaluating and negotiating the Merger Agreement and the transactions contemplated therein, in approving the Merger Agreement and in recommending that our shareholders vote in favor of the adoption of the Merger Agreement.

Potential litigation against us or EQT could result in substantial costs, an injunction preventing the completion of the Merger and/or a judgment resulting in the payment of damages. Securities class action lawsuits and derivative lawsuits are often brought against public companies that have entered into merger agreements. Even if such a lawsuit is unsuccessful, defending against these claims can result in substantial costs.

Shareholders may file lawsuits against EQT, us and/or the directors and officers of either company in connection with the Merger. These lawsuits could prevent or delay the completion of the Merger and result in significant costs to us or EQT, including any costs associated with the indemnification of directors and officers. One of the conditions to the completion of the Merger is the absence of any injunction or law that prohibits or makes illegal the completion of the Merger; consequently, if a plaintiff is successful in obtaining an injunction prohibiting completion of the Merger, that injunction may delay or prevent the Merger from being completed within the expected time frame or at all. There can be no assurance that any of the defendants will be successful in the outcome of any potential lawsuits.

We will incur significant transaction and Merger-related costs in connection with the Merger. We expect to incur a number of non-recurring costs associated with the Merger. The significant, non-recurring costs associated with the Merger include, among others, fees and expenses of financial advisors and other advisors and representatives and certain employment-related costs relating to our employees. Some of these costs have already been incurred or may be incurred regardless of whether the Merger is completed.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

In 2019, our Board of Directors authorized a common stock repurchase program. In February 2026, our Board of Directors increased the authorization under the program to $1.5 billion available. Shares repurchased as of September 30, 2026 are held as treasury stock and we have approximately $1.4 billion of remaining authorization under the program. These repurchases are based on trade date, although certain purchases may not have settled until the following month.

Purchases of our common stock during third quarter 2026 are as follows:

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
Period		Total Number of Shares Purchased			Average Price Paid Per Share (a)			Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs			Approximate Dollar Amount of Shares that May Yet Be Purchased Under Plans or Programs
July 2026			—			$	—				—			$	1,421,648,789
August 2026			—			$	—				—			$	1,421,648,789
September 2026			—			$	—				—			$	1,421,648,789
			—							—

(a)

Includes any customary fees and commissions associated with the share repurchases, but excludes the 1% excise tax.

ITEM 5. OTHER INFORMATION

During third quarter 2026, no director or officer adopted, modified or terminated a \"Rule 10b5-1 trading arrangement\" or \"non-Rule 10b5-1 trading arrangement\" as such terms are defined in Item 408 of Regulation S-K.

ITEM 6. EXHIBITS

Exhibit index

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				Incorporated by Reference (File No. 001-12209)
Exhibit Number		Exhibit Description		Form		Exhibit		Filing Date

3.1		Restated Certificate of Incorporation of Range Resources Corporation		10-Q		3.1.1		05/05/2004

3.1.1		First Amendment to Restated Certificate of Incorporation of Range Resources Corporation		10-Q		3.1		07/28/2005

3.1.2		Second Amendment to Restated Certificate of Incorporation of Range Resources Corporation		10-Q		3.1		07/24/2008

3.1.3		Third Amendment to Restated Certificate of Incorporation of Range Resources Corporation		8-K		3.1		05/08/2024

3.2		Amended and Restated By-laws of Range Resources Corporation		8-K		3.1		05/19/2016

10.1		Eighth Amended and Restated Credit Agreement, dated October 2, 2025, among Range Resources Corporation, as borrower, JPMorgan Chase Bank, N.A., as Administrative Agent and Letter of Credit Issuer, and each other Letter of Credit Issuer or Lender from time to time party thereto.		8-K		10.1		10/02/2025

31.1*		Certification of Chief Executive Officer of Range Resources Corporation Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

31.2*		Certification of the Chief Financial Officer of Range Resources Corporation Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

32.1**		Certification of Chief Executive Officer and President of Range Resources Corporation Pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

32.2**		Certification of Chief Financial Officer of Range Resources Corporation Pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

101. INS*		Inline XBRL Instance Document – the XBRL Instance Document does not appear in the Interactive Data file because its XBRL tags are embedded within the Inline XBRL document

101. SCH*		Inline XBRL Taxonomy Extension Schema with Embedded Linkbase Document

104 *		Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)
* **		Filed herewith Furnished herewith

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: October 27, 2026

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RANGE RESOURCES CORPORATION

By:		/s/ MARK S. SCUCCHI
		Mark S. Scucchi
		Executive Vice President and Chief Financial Officer

Date: October 27, 2026

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\n	\n	\n
RANGE RESOURCES CORPORATION

By:		/s/ ASHLEY S. KAVANAUGH
		Ashley S. Kavanaugh
		Vice President – Controller and Principal Accounting Officer

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