Capital One Securities, Inc. 8th Annual Energy Conference Ray Walker SVP & COO December 12, 2013
Range Resources Strategy Proven track record of performance Marcellus Shale Focus on PER SHARE 38 to 49Tcfe resource potential Upper Devonian Shale 12 to 18 Tcfe resource potential GROWTH of production Utica Shale and reserves at…
Range Significant Growth Model for Many Years 20%-25% line-of-sight production growth for many years Cash flow growth is expected to outpace production growth depending on commodity prices High rate of return, high growth, large…
Financial Position Strong, Simple Balance Sheet Bank debt, subordinated notes and common stock No debt maturity until 2016 (bank) and 2019 (notes) Available liquidity of 1.2 billion under commitment amount Well Structured Bank…
Range is Focused on Per Share Growth, on a Debt-Adjusted Basis Production/share debt adjusted Reserves/share debt adjusted 1.8 40 1.6 35 1.4 30 Mcfe Mcfe 1.2 25 1.0 20 0.8 15 0.6 10 0.4 5 2007 2008 2009 2010…
Ten Years of Double-Digit Production Growth 20%-25% Growth Projected for 2013 1000 900 800 700 Mmcfe/d 600 500 400 300 200 100 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013E Includes impact of acquisitions…
Ranges Reserve Base and Upside are Growing Tcfe YE 2007 YE 2008 YE 2009 YE 2010 YE 2011 YE 2012 Proved 2.2 2.7 3.1 4.4(1) 5.1 6.5 Reserves Resource 16 - 22 21 - 29 24 - 32 35 - 52 44 - 60 60 - 83 Potential (2) Proved…
1 Million Net Acres Prospective for Shales in PA Northwest 315,000 net acres(1) (Legacy acreage is largely held by shallow production) Northeast 145,000 net acres (One rig is projected to hold all blocked up acreage being…
Pennsylvania Stacked Pays Net Acreage Wet Dry Total Acreage Acreage Acreage Upper Devonian 330,000 235,000 565,000 Marcellus 480,000 355,000 835,000 Utica/Point 180,000 400,000 580,000 Pleasant 990,000 990,000…
Gas In Place (GIP) Upper Devonian Shale The greatest GIP in the Upper Devonian is found in SW PA A significant portion of the GIP in the Upper Devonian is located in the wet gas window Note: Townships where Range holds 3,000…
Gas In Place (GIP) Marcellus Shale GIP is a function of pressure, temperature, thermal maturity, porosity, hydrocarbon saturation and net thickness Two core areas have developed in the Marcellus Condensate and NGLs are in…
Gas In Place (GIP) Utica/Point Pleasant Shale The greatest GIP in the Utica/Point Pleasant is in the dry gas window in SW PA Note: Townships where Range holds 3,000 or more acres (as of 12/31/2012), and estimated as…
Gas In Place (GIP) Analysis Shows Greatest Potential in SW PA Range has concentrated its acreage position in SW PA, where all three shales give the greatest GIP in the region When GIP analysis from the Marcellus, Upper…
Marcellus Shale Ranges Top 10 Liquids Rich Wells 24-hr IP (Boe/d) Production Mix 24-hr IP Lateral Frac Well Name County per 1,000 (Boe/d) Length Stages lateral foot Oil NGLs Gas Kresic Unit 3H Washington 5,727 1,126 5,085 26 15%…
Southwest PA Super-Rich Marcellus 2013 Well Performance After 240 days, wells are still performing above the 1.32 Mmboe type curve 10,000 1Q-2013 Avg Mmcf/day Residue Gas Gas Type Curve 1,000 Bbls/day 1Q-2013 Avg…
Southwest PA Super-Rich Marcellus Horizontal Length Average Number of Stages 5,000 23 21 4,500 19 4,000 17 Stages Feet 15 3,500 13 3,000 11 9 2,500 7 2,000 5 2010-2012* 2013 2014+ 2010-2012* 2013 2014+ EUR…
SW PA Super-Rich Area Marcellus Projected Development Mode Economics Southwestern PA (high Btu case) Reserves and economics based on EUR 1.82 Mmboe (10.9 Bcfe) planned future activity of 4,500 foot lateral length with 22 frac stages,…
Southwest PA Wet Marcellus Horizontal Length Average Number of Stages 4,500 25 4,000 20 Stages 3,500 Feet 15 3,000 10 2,500 2,000 5 2007-2012* 2013 2014+ 2007-2012* 2013 2014+ EUR per 1,000 ft. EUR by Year 3.5…
SW PA Wet Marcellus Projected Development Mode Economics Southwestern PA (wet gas case) Reserves and economics based on planned future activity of 4,200 foot EUR 12.3 Bcfe (27 Mbbls condensate, 951 lateral length with 21 frac stages,…
Southwest PA Dry Marcellus Horizontal Length Average Number of Stages 5,500 30 5,000 25 4,500 Stages 4,000 20 Feet 3,500 15 3,000 10 2,500 2,000 5 2011-2012* 2013 2014+ 2011-2012* 2013 2014+ EUR per 1,000 ft. EUR…
SW PA Dry Marcellus Projected Development Mode Economics Southwestern PA (dry gas) Reserves and economics based on EUR 12.2 Bcf planned future activity of 5,000 foot lateral length with 25 frac stages, Drill and Complete Capital 6.0…
Innovative NGL Marketing Mariner East & West have access to international markets and premium export Propane/Ethane can be tied into NE markets or be pricing for future contracts Ethane export to exported internationally Canada 2013…
Additional Upside Appalachia Stacked Pays As Marcellus drilling holds all depths, industry activity is proving up our SW PA Utica/Point Pleasant and Upper Devonian acreage Utica/Point Pleasant Shale Significant acreage positions in…
Additional Upside Oil Component Two Potentially Large Scale, Repeatable Oil Projects are being tested Horizontal Mississippian 160,000 net acres along the Nemaha Uplift Successfully drilled the southern width of the Nemaha Uplift…
Range Significant Growth Potential for Many Years 20%-25% line-of-sight production growth for many years Cash flow growth is expected to outpace production growth depending on commodity prices High rate of return, high growth,…
Contact Information Range Resources Corporation 100 Throckmorton, Suite 1200 Fort Worth, Texas 76102 Main: 817.870.2601 Fax: 817.870.2316 Rodney Waller, Senior Vice President rwallerrangeresources.com David Amend, Investor…
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