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Range Ramps Up Drilling Activity in Q1; Expects 34% Production Jump
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Range Resources has reported its Q1 2017 results.
Production growth for the full year of 2017 is unchanged at 33% to 35%.
Production for first quarter 2017 averaged 1,503 net Mmcfe per day, a 13% increase over the prior year.
Marcellus - The division brought on line 22 wells in the first quarter, six in the super-rich area, 10 in the wet area and six in the southwest dry area.
In order to streamline operations and reduce costs, the Southern Marcellus Division and Northern Marcellus Division have been combined, and going forward will be referred to as the Appalachia Division. Production for first quarter 2017 averaged 1,503 net Mmcfe per day, a 13% increase over the prior year. The southern Marcellus properties averaged 1,341 net Mmcfe per day…
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