Range Resources Corporation (NYSE:RRC) Q1 2022 Earnings Conference Call February 23, 2022 9:00 AM ET

Company Participants

Laith Sando – Vice President-Investor Relations

Jeff Ventura – Chief Executive Officer

Dennis Degner – Chief Operating Officer

Mark Scucchi – Chief Financial Officer

Alan Engberg – Vice President-Liquids Marketing

Conference Call Participants

Josh Silverstein – Wolfe Research

Michael Scialla – Stifel

John Abbot – Bank of America

David Deckelbaum – Cowen

Arun Jayaram – J.P. Morgan

Noel Parks – Tuohy Brothers

Operator

Welcome to Range Resources’ First Quarter 2022 Earnings Conference Call. [Operator Instructions]

At this time, I would like to turn the call over to Laith Sando, Vice President of Investor Relations at Range Resources. Please go, ahead sir.

Laith Sando

Thank you, operator. Good morning, everyone, and thank you for joining Range's first quarter earnings call.

The speakers on today's call are Jeff Ventura, Chief Executive Officer; Dennis Degner, Chief Operating Officer; and Mark Scucchi, Chief Financial Officer. Hopefully, you've had a chance to review the press release and updated investor presentation that we've posted on our website.

Hopefully, you’ve had a chance to review the press release and updated investor presentation that we posted on our website. We may reference certain of those slides on the call this morning. You will also find our 10-Q on Range's website under the Investors tab, or you can access it using the SEC's EDGAR system. Please note, we'll be referencing certain non-GAAP measures on today's call. Our press release provides reconciliations of these to the most comparable GAAP figures. For additional information, we've posted supplemental tables on our website to assist in the calculation of EBITDAX, cash margins and other non-GAAP measures.

With that let me turn the call over to Jeff.

Jeff Ventura

Thanks, Laith. And thanks everyone for joining us on this morning’s call. Before discussing the successful first quarter Range had, I wanted to spend a few minutes on the global energy challenges that we're all witnessing and working through. Since our year-end call in February, commodity prices across the Board have moved significantly higher as supply has struggled to meet demand for varying reasons, ranging from longer term capital under investment to supply chain issues and infrastructure challenges, some of which are driven by policy decisions in the United States and abroad.

The Russian invasion of Ukraine has resulted in the tragic loss of life and massive destruction of cities and infrastructure. And it has also exposed some of the flaws in energy policy that has miscalculated or ignored the physical realities of energy market fundamentals, while trying to achieve ambitious longer term environmental goals.