Well Cost | Top Story | Hedging | Capital Markets | Capital Expenditure | Capital Expenditure - 2020 | 2020 Guidance
Range Cutting Spending Nearly 30% for 2020; Aims for Flat Production
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Range Resources has detailed its 2020 capital plans.
The company noted it will be solely focused on its Marcellus asset in 2020. The compares to 90% in 2019 (the remaining 10% was spent on its assets in North Louisiana).
No well or rig plans were disclosed.
Other 2020 Highlights Similar inventory of drilled uncompleted lateral footage expected at year-end 2020 as year-end 2019, supporting the option of a similar capital program in 2021 and beyond Well costs expected to average less than $625 per lateral foot in 2020 Hedge IncreasesThe Company has increased its hedge position to support the 2020 budget with over 1 Bcf per day hedged, or more than 60% of expected 2020 natural gas production, at an average price of $2.64.
Commenting, Jeff Ventura, the Company’s CEO said, “Range…
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