Forecast - Production | Capital Markets | Capital Expenditure
Range Resources IDs 2016 Budget; Focus on Marcellus Asset
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Range Resources Corp. has reported its 2016 Capital Spending Plans and Cost Overview/Outlook.
2016 Drilling & Completions Capital Expenditure: $495 MillionCommenting, Jeff Ventura, the Company's CEO said, "As a result of excellent well performance, reduced capital and operating costs and improved differentials across all products, Range continues to achieve accretive returns on our Marcellus acreage. We have set our 2016 capital budget at $495 million, a 45% reduction compared to 2015 capital expenditures. This capital budget is aligned with expected 2016 cash flow plus anticipated proceeds from 2016 asset sales."
Range has set its 2016 capital spending budget at $495 million, a decrease of 45% compared to 2015 and a decrease of 69% compared to 2014. The capital budget includes…
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