Barnett Shale Range Resources
Range Provides Operations Update
In the Barnett Shale play in North Texas, Range previously announced that it had experienced pipeline curtailments beginning in the second quarter. …
Range Resources Corporation is different from its peers in that it has more of a mid-cap bias. Note that growth stocks are often more volatile than value-oriented issues, though they may have better return prospects. Range Resources Corporation, an independent oil and gas company, engages in the exploration, development, and acquisition of oil and gas properties primarily in the southwestern, Appalachian, and Gulf Coast regions of the United States. It sells gas to utilities, marketing companies, and industrial users.
Production from the Fort Worth Basin has reached 85 (60 net) Mmcfe per day, a three-fold increase versus a year ago. Initial results from the Barnett test in southern Ellis County are expected later in the third quarter. Production from the acquired properties is expected to offset production lost through these property sales.
MarkWest has a proven track record of supporting producers in the development of shale plays, and we look forward to partnering with them.? MarkWest has a proven track record of supporting producers in the development of shale plays, and we look forward to partnering with them.
Statements contained in this conference call that are not historical facts are forward-looking statements. Such statements are subject to risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements. Statements that do not relate strictly to historical or current facts are forward-looking. The risks and uncertainties that may affect the operations, performance and results of the company’s business and forward-looking statements include, but are not limited to, those set forth under Item 1A, “Risk Factors” of the company’s most recently filed Form 10-K.
Essentially all the progress in 2008 has been achieved through the drillbit. Our sharp operating focus and strong natural gas hedge position will serve us well for the remainder of 2008 and as we move into 2009. Essentially all the progress in 2008 has been achieved through the drillbit. Our sharp operating focus and strong natural gas hedge position will serve us well for the remainder of 2008 and as we move into 2009.
Natural gas accounts for about 82% of Range Resources’ proved reserves of about 2.2 trillion cu. The company holds about 2.7 million net acres of leasehold properties, and an inventory of more than 11,000 net drilling locations. Natural gas accounts for about 81% of Range Resources’ proved reserves of about 1.2 trillion cu. Its Independent Producer Finance subsidiary provides capital to small oil and gas producers.
