Sale expected to firm up Range Resource’s balance sheet Range Resources (ticker: RRC) announced yesterday that it will sell its Southern Appalachian Nora assets for a purchase price of $876 million, according to a company press release. The Nora Field produces from multiple stacked pay horizons including coal bed methane, tight gas sand and Devonian shale. According to Range, the
Vital Pipeline Startup will Result in Increased Margins Range Resources (ticker: RRC) is well-established as a low cost producer (its three-year finding and development costs rank fifth among 87 peers in EnerCom’s E&P Weekly Benchmarking Report), but that doesn’t mean there isn’t room for improvement. In the last four years, Range has exploited its Appalachia acreage (now in the neighborhood
On the final day of EnerCom’s The Oil & Gas Conference®, a number of energy experts shared their insight into energy market opportunities. James Constas, EnerCom Managing Director EnerCom Managing Director James Constas gave a presentation called “Saudi America: the Unexpected Swing Producer.” Constas made the case that three primary factors have determined a cartel’s pricing power: a physical commodity,
LNG: Energy CEOs talk about exporting U.S. shale gas to Europe, Asia “We are changing the way the global natural gas markets are going to function”—Charif Souki, Cheniere Energy CEO The exportation of liquefied natural gas (LNG) and crude oil from the U.S. were hot topics at EnerCom’s The Oil & Gas Conference® 20. Marcellus producer Range Resources is well
Jeff Ventura, Chief Executive Officer of Range Resources Corporation (NYSE: RRC), presented today at EnerCom’s The Oil & Gas Conference 20®. Range Resources Corporation is one of the leading independent oil and natural gas producer with operations focused in Appalachia and the Midcontinent region of the United States. The Company pursues an organic growth strategy targeting high return, low-cost projects
Number of Oncoming Pipeline Projects in Place through 2017 Range Resources Corporation (ticker: RRC), one of the largest exploration and production companies in the Appalachia region, increased volumes on a quarter-over-quarter basis by 3% in its Q2’15 earnings released on July 28, 2015. The flow of 1,373 MMcfe/d are a company record and are expected to climb to 1,390 to
North America’s Largest Energy-Focused Investor Conference Comes to Denver Aug. 16-20 Conference presenters are operating in more than 40 countries on six continents Enterprise values of presenting companies range from $160 billion to $9 million CNBC and Fox Business to broadcast live coverage from the conference The world’s oil and gas industry will showcase itself to investors in Denver in
Operators reducing operating expenses to match price downswing Natural gas production has continued to rise over the last nine years, steadily pushing down the price of natural gas at Henry Hub, and putting increasing pressure on companies’ cash margins. The above chart looks at five companies in the Marcellus, illustrating the downward trend in Henry Hub prices and cash margins
New task force focuses on developing Pennsylvania infrastructure responsibly In 2014, Pennsylvania became the second largest natural gas producing state after Texas, producing over 4 trillion cubic feet of natural gas last year, according to the Energy Information Administration. The shale revolution has allowed companies to unlock massive quantities of natural gas locked in tight formations, doubling Pennsylvania’s output from
Leading Natural Gas Producer not Slowing Down Range Resources (ticker: RRC) maintained its 20% to 25% annual line-of-sight growth strategy in its Q1’15 results, announcing a new production record of 1,328 MMcfe/d in the quarter. Volumes for 2015 are expected to average 1,394 MMcfe/d (30% liquids) for the fiscal year based on the company’s guidance of 20% growth, even though
The company announced today large increases to its reserves Range Resources (ticker: RRC) announced today that the company’s proved reserves have increased to 10.3 trillion cubic feet equivalent (Tcfe), an increase of 26%. In its press release, RRC also said it replaced 581% of production in 2014 from drilling. In EnerCom’s E&P Weekly for the week ended January 9, 2015,
Utica/Point Pleasant well sets Appalachia record Range Resources (ticker: RRC) announced today its 2015 capital budget and initial results from its Utica/Point Pleasant well located in Washington County, Pennsylvania. Range has set its 2015 capital budget at $1.3 billion, a decrease of 18% versus its 2014 capital budget. The company said that the decrease is a result of improving capital
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