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Range Optimizes Marcellus, MidCon Completions; 24-Hour IPs
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Range Resources Corp. announced its second quarter financial results.
Highlights: Production volumes reached a record high, averaging 1,373 Mmcfe per day, a 24% increase over the prior-year quarter. Unit costs declined $0.36 per mcfe, or 11% compared to the prior-year quarter. Two Marcellus dry gas wells in southwest Pennsylvania were turned in line, each at 34.2 Mmcf per day, 1.8 Bcf per well of cumulative production in 90 days. Full-year 2015 capital budget of $870 million is on track to deliver 20% annual growth. Spectra's Uniontown to Gas City project is anticipated to open ahead of schedule allowing Range as anchor shipper to move approximately 170 Mmcf per day of net natural gas production, or approximately 28% of its average net second quarter production in the southwest…- ✓ Full news archive — U.S., Canada & international coverage
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