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Range's Marcellus Downspacing, Added Frac Stages Pays Off; Cotton Valley Output Down -25%
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Range Resources reported its second quarter 2018 financial results.
Highlights:- Production averaged a record 2,200 Mmcfe per day (up +13% YOY and flat from 1Q18)
Liquids production averaged 117,520 barrels per day, a 12% increase YOY, and contributed 46% of total product revenues before hedging Southwest Pennsylvania production increased 30% YOY to 1,752 Mmcfe per day- Net loss of $80 million ($0.32 per diluted share), non-GAAP net income of $50 million ($0.20 per diluted share)
Appalachia - Ops Improvements Boost Output Q2 production of 1,876 net Mmcfe per day from the Appalachia division, a 25% increase YOYThis was achieved through continued operational improvements and exceptional well results across Range's acreage position.
35% More Frac Stages in the MarcellusIn its Q2…
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