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Range Details Improved Marcellus Economics in 4Q Report
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Range Resources Corp. announced its 2015 financial results.
Highlights: Fourth quarter unit costs reduced by 15%, or $0.46 per mcfe compared to prior-year quarter Fourth quarter natural gas differential improved $0.20, or 35%, compared to prior-year quarter, driven by additional takeaway projects Record annual average daily production of 1.4 Bcfe per day Reserve replacement of 436% at $0.37 per mcfe drill-bit finding cost Peer-leading Marcellus EURs and well costs on a normalized lateral length basis Completed Nora asset sale for cash proceeds of $865 million, used to reduce debt at year-end Mariner East in final commissioning phase, expected to improve NGL netbacks Signed agreement to sell Bradford County non-operated interest for approximately $112 million 2016 capital budget set…- ✓ Full news archive — U.S., Canada & international coverage
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