Exploration & Production | Midstream - Pipelines | Top Story | Capital Markets | Capital Expenditure
Range Makes Big Cut to 2015 Budget; Will Focus on Marcellus
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Range Resources Corp. has updated several changes in its operations.
Highlights: 2015 Capital expenditure budget revised to $870 million targeting production growth of 20% year-over-year Mariner East propane pipeline commissioned with propane line fill in late December 2014 year-over-year production growth approximately 24% New ethane sales contract announced for 2015In December, Range announced a planned 2015 capital budget of $1.3 billion. That budget included capital efficiencies Range expected to realize with its longer laterals, better lateral targeting and improved completions based on its 2014 results. No reductions in service costs were included in the initial budget. With the continuing erosion in commodity prices, Range has further high-graded its planned capital program for…
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