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Range's Longer Laterals (15,000' +) Strengthen IP Rates; 30% Production Growth
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Range reported its Q2 2017 results. Highlights from its release / call include:
- Record production totaled 1.945 Bcfe/d, an increase of 37% YOY
Range's Q3 production is expected to be 1,970 Mmcfe per day. Production for Q4 is expected to be 2,170 Mmcfe per day, which is a 17% increase compared to the prior-year quarter. This results in annual production growth of 30% This production upswing is connected to the increase in lateral length on Range's wells - two of its wells this quarter had laterals in excess of 15,000' at its Eastern Dry Gas well pad- $1.15 billion 2017 capex remains unchanged
Range plans to boost its lateral length from its current average (7,500') to 9,500' in 2H 2017 - this is an increase of +27%
In the conference call, President &…
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