Appalachian Basin pure play Range Resources Corp. is targeting flat production growth in 2024 with a focus on natural gas liquids (NGL) to offset weak natural gas pricing, management said Thursday.

“Near-term prices are obviously incredibly challenging for the industry, and we expect these historically low price levels should help keep a lid on natural gas production across the U.S.,” CEO Dennis Degner told analysts during a call to discuss fourth quarter 2023 earnings.

Fort Worth, TX-based Range, the 12th-leading natural gas producer among U.S. publicly traded firms according to the latest NGI calculations, operates primarily in the Marcellus Shale. The Marcellus boasts prolific windows of liquids-rich gas, unlike dry gas plays such as the Haynesville Shale. 

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