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Range on Course to Complete 141 Wells; Touts Cotton Valley Well Results
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Range Resources announced its third quarter financial results.
Key Points:Spends 25% Less - Third quarter 2016 drilling expenditures of $90 million - down from $120 million in Q2
Increased drilling by ~40% - Drilled 39 (38 net) wells (compared to 28 (26 net) wells in Q2)
Production up 6% - Third quarter production averaged 1,508 net Mmcfe per day (compared to 1,421 net Mmcfe per day in Q2)
Highlights: Merger with Memorial Resource Development closed on September 16th Gulf Markets Expansion pipeline on line in early October improves natural gas netbacks by moving 150,000 Mmbtu per day of Range natural gas from Appalachia to Gulf Coast markets North Louisiana production growth and additional takeaway projects result in better natural gas differentials going forward New condensate sales…- ✓ Full news archive — U.S., Canada & international coverage
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