Range Resources – GRO Seminar September 2nd, 2026
Overview – Our Discussion Today • Introduction
• About Me • Who We Are as a Company • Lifecycle of a Marcellus Well • Questions
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About Me – Evan Galimberti • Senior Reservoir Engineer • Reservoir Engineer – 2.5 years • Drilling Engineer – 1.5 years • Production Engineer – 1.5 years • Completions Engineer – 1 year • Reservoir Engineer – Full Time (2025)
• 2018 Penn State graduate • M.S. in Energy and Mineral Engineering – Petroleum Engineering • B.S. in Petroleum Engineering
• 2017 Range Resources Intern – Reservoir • Summer Internship Coordinator 3
Range Resources – Who We Are
NYSE: RRC
Company Established:
Became Range Resources in 1998
Total Employees: 570 +/Industry: Oil and Gas – Exploration & Production
Areas of Operation: Pennsylvania
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Range Resources – Who We Are
Top 10 U.S. Producer of Natural Gas & Natural Gas Liquids (NGLs)
Pure Play Appalachian Producer with 30+ Years of Core Inventory Most Capital Efficient Operator in Appalachia Upstream Leader in Environmental Practices
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Internship Opportunities • Engineering: • Production • Completions • Drilling • Reservoir
• Safety • Geology • GIS (Geographic Information Systems) • Land • Environmental Compliance • Marketing (Gas/Liquids) • Facilities 6
Lifecycle of a Marcellus Well
Lifecycle Overview • Planning Phase (Planning, Permitting, Land, Geology, Construction) • Operations • Road and Pad Construction • Drilling – Top Hole • Drilling – Horizontal • Completions • Drillout • Flowback • Production
• Gas Processing and Marketing • Environmental and Safety
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Our Acreage – PA
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Our Acreage – PA with Focus on SWPA
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Our Acreage – PA with Focus on SWPA
Range Office - Canonsburg
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Planning Phase • Planning Team • Capital vs. Production Targets • 2026: 2.35 BCFE guidance, and $650-$700 million capital budget
• Schedule management, Inventory management (PUD’s*), and water management
• Permitting • Site selection, engineering design and obtaining DEP permits • Well permit, ESCGP*, HOP*, Stream and Wildlife, and Municipal (Zoning, traffic, etc.)
• Land • Lease acquisition, unitization • Managing claims and disputes
• Geology • Target package, casing design • Planning and development • Geosteering – more on this later
*see definitions and acronyms slide 12
Operations – Road and Pad Construction • Road construction • Have 500+ miles of bonded road • ~$500k/mile – built to last through our operations and well past 10 years
• Pad construction • 12 week process from site inspection to cellar installation • Average size is 3.5 acre (480’ x 315’), with 1,000’ of lease road
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Operations – Drilling • Top hole and horizontal rigs utilized to optimize drilling cost and timing • Average 7 days per top hole, drilling to 6,000’+ • Drill, case and cement 3 sections of vertical hole
• Average 9 days for horizontal (curve and lateral) • 2026 avg. lateral length of 17,200’, longest of 22,789’ • Increasing ROP’s through managed pressure drilling (MPD), mud weight changes and rig upgrades • Most footage drilled in one day – 11,558’
• Dual fuel rig conversions to lower emissions 14
Operations – Top Hole Drilling • Use a smaller rig to drill on air to drill vertical section • Set and cement casing strings: • Surface – water protective • Isolates freshwater aquifers, set 50’ below DFGW
• Coal – coal protective • Protects from coal mines and voids, 30-50’ below coal
• Intermediate – Supports further drilling • Isolates from oil and gas bearing zones, all cemented to surface
• Drill 8-3/4” open hole section to desired TD • Often using low angle tangents • Typically ~6,000’
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Operations – Horizontal Drilling • Horizontal rig comes in to drill curve and lateral • Uses synthetic oil based mud (SOBM)
• Use MWD and RSS to orient and steer the bit • Able to drill 20,000’+ of lateral and stay within a 10’ target window
• Use managed pressure drilling (MPD) to control wellbore
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Operations – Completions • Complete over 600,000’ of lateral per year
• Use of electric frac fleet • In 2025 became the only operator in the contiguous US with a fully electric frac fleet with electric drillout equipment • On site natural 35 MW gas turbine
• Per average well • 26,700,000 gal (635,000 bbl) of water • 29,200,000 lb of sand
• Pumped at 100 bpm, 10,500 psi max. pressure 17
Operations – Completions • Purpose
o Create pathway to pump into formation • Set-up o ~200 ft per stage o 55-60 stages per well (11,000’-12,000’ lateral)
• Steps o Set plugs (minus first stage) o Fire perforation guns o Retrieve wireline
Toe Sleeve
o Start hydraulic fracturing o Repeat
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Operations – Completions • Purpose
o Create pathway to pump into formation • Set-up o ~200 ft per stage o 55-60 stages per well (11,000’-12,000’ lateral)
• Steps o Set plugs (minus first stage) o Fire perforation guns o Retrieve wireline
Toe Sleeve
o Start hydraulic fracturing o Repeat
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Operations – Completions • Purpose
o Create pathway to pump into formation
Wireline
• Set-up o ~200 ft per stage
Perf Gun
o 55-60 stages per well (11,000’-12,000’ lateral)
Frac Plug
• Steps o Set plugs (minus first stage) o Fire perforation guns o Retrieve wireline
Toe Sleeve
o Start hydraulic fracturing o Repeat
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Operations – Completions • Purpose
o Create pathway to pump into formation • Set-up o ~200 ft per stage o 55-60 stages per well (11,000’-12,000’ lateral)
• Steps o Set plugs (minus first stage) o Fire perforation guns o Retrieve wireline
Perforation Toe Sleeve
o Start hydraulic fracturing o Repeat
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Operations – Completions • Purpose
o Create pathway to pump into formation • Set-up o ~200 ft per stage o 55-60 stages per well (11,000’-12,000’ lateral)
• Steps o Set plugs (minus first stage) o Fire perforation guns o Retrieve wireline
Fracture Toe Sleeve
o Start hydraulic fracturing o Repeat
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Operations – Completions • Purpose
o Create pathway to pump into formation
Wireline
• Set-up o ~200 ft per stage
Perf Gun
o 55-60 stages per well (11,000’-12,000’ lateral)
Frac Plug
• Steps o Set plugs (minus first stage) o Fire perforation guns o Retrieve wireline
Toe Sleeve
o Start hydraulic fracturing o Repeat
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Operations – Completions • Purpose
o Create pathway to pump into formation • Set-up o ~200 ft per stage o 55-60 stages per well (11,000’-12,000’ lateral)
• Steps o Set plugs (minus first stage) o Fire perforation guns o Retrieve wireline
Frac Plug Toe Sleeve
o Start hydraulic fracturing o Repeat
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Operations – Completions • Purpose
o Create pathway to pump into formation • Set-up o ~200 ft per stage o 55-60 stages per well (11,000’-12,000’ lateral)
• Steps o Set plugs (minus first stage) o Fire perforation guns o Retrieve wireline
Kill Plug
Toe Sleeve
o Start hydraulic fracturing o Repeat
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Operations – Drillout and Flowback • Drillout removes frac plugs and cleans out well for flowback • Standalone workover rig, coil unit, traditional
• Flowback: temporary production equipment for high water and sand rates • Average around 14 days per well before turning to permanent production
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Operations – Production • Corporate production guidance of 2.35 Bcfe per day • Over 1,600 Marcellus wells currently producing • Checked daily by team of lease operators
• Over 650 with plungers • Most plungers under AI optimization
• Capillary strings and chemical injection • Switching all pneumatics to compressed air to minimize emissions 27
Operations – Production • Facilities vary by BTU – Dry, Wet and Super Rich • Dry gas – no condensate • On site separation (Gas Production Unit, GPU) • On site dehy • High or low pressure, can go directly to sales
Super Rich
• Wet gas – condensate production low to high • On site separation (GPU), no dehy • Secondary recovery through HFS for liquids, VRT Wet
Dry
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Operations – Detecting, Quantifying, and Reducing Emissions
Detect
Quantify
Reduce
• Boots on the ground leak detection program 8x per year at 100% of our assets • Aerial surveys scan for methane at 100% of our assets
• High flow sampler used to directly measure leaks and other small emission sources
• Pneumatic Device Retrofits • Changing pneumatic device actuating fluid from natural gas to air or nitrogen by YE 2026
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Gas Processing and Marketing • Wet gas is processed through third party partner into revenue streams • Demethanizer, deethanizer, and fractionation (C3+)
• Dry gas is transported directly into transmission pipelines • Gas/Liquid Marketing: • Gas sold to Midwest, Appalachia, northeast and gulf • Liquids sold all over the world
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Environmental and Safety • Environmental compliance • Advises and ensures we meet or exceed environmental regulations and laws • Air emissions – GHG detection and reporting • Downhole operations – well plugging and cementing • Site compliance – DEP inspections, environmental response, spills and releases
• Safety • Key to everything we do here at Range • Focus on SIF potential
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Questions?
My Contact Information
Evan Galimberti Reservoir Engineer egalimberti@rangeresources.com
www.rangeresources.com
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Definitions and Acronyms • PUD’s – Proved Undeveloped Reserves • Future planned wells scheduled to be developed within the next five years
• DEP – PA Department of Environmental Protection
• MPD – Managed pressure drilling • Using a surface choke to apply pressure while drilling
• MW – Mud weight • The density of the drilling fluid being used
• ESCGP – Erosion and Sediment Control General Permit • BCFE – Billion cubic feet of gas equivalent • Permit showing how water and soil will be dealt with
• HOP – Highway Occupancy Permit • Needed for connecting to current roads
• ROP – Rate of Penetration • TD – Well Total Depth • MWD – Measuring While Drilling
• Volume of natural gas, with liquids converted to gas volume
• HFS – Heated flash separator • A secondary separation unit designed to heat the liquids
• VRT – Vapor Recovery Tower • An additional separation unit used to recovery any final vapors from condensate before going to storage tanks
• Used to log the formation while you are drilling
• RSS – Rotary Steerable System • Used to steer the bit while rotating
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