One-Page Deal Sheet
Range Sells Royalty Interest in Marcellus/Utica Lease for $300MM
Not Disclosed Range Resources Corp
Announced Date
October 15,2018
Close Date
October 15,2018
Transaction Type
Royalty
Enterprise Value (EV)($MM)
300
Location
Calculated Metrics( EV/Category)
Region
Northeast
Country
United States
State
Pennsylvania
County
Washington
Play
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Production ($/Mcfe/d)
Transaction Details: Subscribe to see
Range Resources has signed and closed on an agreement to sell a proportionately reduced 1% overriding royalty in its Washington County, Pennsylvania leases for gross proceeds of $300 million.
The buyer was not disclosed.
Range’s Washington County properties encompass approximately 300,000 net surface acres that produced 1.7 Bcfe net per day in the second quarter of 2018. The overriding royalty applies to existing and future Marcellus, Utica and Upper Devonian development on the subject leases, while excluding shallower and deeper formations.
Post-close, Range maintains a net revenue interest…
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