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Peters and Co Energy Conference – Range Resources Corp

Range Resources Corp · Sep 15, 2015 · 34 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Peters and Co Energy Conference – Range Resources Corp – slide 1
    Resource Play Development Peters & Co. Limited Energy Conference August 17, 2015 Rodney Waller Senior Vice-President September 15, 12015
  2. Peters and Co Energy Conference – Range Resources Corp – slide 2
    Understanding Resource Play Development What do we know about resource plays All natural resources are distributed log normally in nature (statistical). Pure deposits are discrete and generally cover a relatively small area. As…
  3. Peters and Co Energy Conference – Range Resources Corp – slide 3
    Where is the Core Unfortunately, producers are forced to buy first and then drill to delineate the core. Drilling results are the ultimate determination of where the core resource is located. Is the core commercial Are the…
  4. Peters and Co Energy Conference – Range Resources Corp – slide 4
    Barnett Shale Gas Play Total Barnett Area = 17,736,960 Acres CORE AREA = 10.5% Core Area = 1,863,040 Acres TOTAL AREA 5
  5. Peters and Co Energy Conference – Range Resources Corp – slide 5
    Fayetteville Shale Gas Play Benton Fulton Carroll Randolph Boone Baxter Marion Sharp Izard Madison Lawrence Washington Newton Searcy Stone C Independence Crawford Van Buren Jackson P Johnson Franklin Cleburne Pope Fort…
  6. Peters and Co Energy Conference – Range Resources Corp – slide 6
    Woodford Shale Gas Play Kay Newton Christian Douglas Ottawa Nowata Craig Barry Stone Howell MISSOURI Washington Taney Ozark McDonald Noble Osage Delaware Rogers Benton Fulton Pawnee Mayes Carroll Boone Marion Baxter Tulsa…
  7. Peters and Co Energy Conference – Range Resources Corp – slide 7
    Haynesville Shale Gas Play ARKANSAS AR TX LA HAYNESVILLE SHALE PRODUCTIVE AREA Core LOUISIANA TEXAS APPROXIMATE EXTENT OF HAYNESVILLE SHALE Total Area = 7,987,023 Acres Productive/Core Area = 2,186,422 Acres CORE AREA…
  8. Peters and Co Energy Conference – Range Resources Corp – slide 8
    Utica/Point Pleasant in Ohio Moving to SW PA Source ITG 9
  9. Peters and Co Energy Conference – Range Resources Corp – slide 9
    Rapid Delineation is Making Utica Play Smaller 10
  10. Peters and Co Energy Conference – Range Resources Corp – slide 10
    Gas Shales Perhaps the most complex of reservoirs Production can be from Matrix porosity Desorption of absorbed gas Fractures Requires stimulation (permeability creation) to produce at economic levels 11
  11. Peters and Co Energy Conference – Range Resources Corp – slide 11
    So, How Do I Evaluate and Understand Shale Gas Reservoirs Comprehensive formation evaluation Thorough geoscience analysis Comprehensive petrophysical analyses Gathering offset and analogous data Application of complex reservoir…
  12. Peters and Co Energy Conference – Range Resources Corp – slide 12
    3-D Seismic Technology Can Be Key Generic 5H Predicted 6109 TVD 3800 V.S. (KB=1014) Predicted Generic 5H Predicted 6088 TVD 1900 V.S. 6219 TVD 0 V.S. (KB=1014) (KB=1014) Generic 6H Predicted 6193 TVD 1400 V.S.…
  13. Peters and Co Energy Conference – Range Resources Corp – slide 13
    Identification of Fractures & Types is Paramount 14
  14. Peters and Co Energy Conference – Range Resources Corp – slide 14
    Completions are Key to Development Frac technology is evolving to enhance near-well bore results Conductivity Connectivity along well bore Keys are Landing Target within the section using FIB-SEM (Focused Ion Beam Milled…
  15. Peters and Co Energy Conference – Range Resources Corp – slide 15
    Focused Ion Beam Milled Scanning Electron Microscopy Side cores from the vertical pilot hole well are taken and examined under FIB-SEM microscopes which extensively image each sample. Geologists then quantify the total organic…
  16. Peters and Co Energy Conference – Range Resources Corp – slide 16
    Lateral Target Selection Critical to Well Performance 1. Plot lateral position as drilled and assign EUR IP 2. Map permeability by landing zone and compare Selection based on per stage to establish performance metric. EUR/stage…
  17. Peters and Co Energy Conference – Range Resources Corp – slide 17
    Well 1 Early Well Non Optimized Landing Target Note high TOC of sample but very small pore size. 18
  18. Peters and Co Energy Conference – Range Resources Corp – slide 18
    Well 2 Optimized Landing Target Using FIB/SEM Note greater occurrence of large pores and presence of significant but not dominant TOC. 19
  19. Peters and Co Energy Conference – Range Resources Corp – slide 19
    How Do I Find and Develop a New Shale Play PeoplePeoplePeople Creative people required to apply current knowledge in a different geological setting Understanding the rock to break the code Technical Team Experience Proven Track…
  20. Peters and Co Energy Conference – Range Resources Corp – slide 20
    If You Are Just Getting Started Three most important questions Will it make gas Can we frac it Can we transport gas to market Then : (Develop a systematic approach) Staying Power to properly test it Design your pilot program to…
  21. Peters and Co Energy Conference – Range Resources Corp – slide 21
    Ranges path to discovery and commercialization of the Marcellus Shale the largest producing gas field in the United States 22 Jeffrey Ventura, Chief Executive Officer
  22. Peters and Co Energy Conference – Range Resources Corp – slide 22
    Marcellus Shale is the Largest Producing Gas Field in the U.S. Range discovered the Marcellus back in 2004 Renz 1 came online in 2005 First cryogenic plant came online late 2008, industry production less than 0.1 Bcfpd Now,…
  23. Peters and Co Energy Conference – Range Resources Corp – slide 23
    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 been developed in the Marcellus Condensate and NGLs are…
  24. Peters and Co Energy Conference – Range Resources Corp – slide 24
    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…
  25. Peters and Co Energy Conference – Range Resources Corp – slide 25
    Gas In Place (GIP) Point Pleasant Outlined portion represents the area of the highest pressure gradients in the Point Pleasant Note: Townships where Range holds 3,000 or more acres (as of 12/31/2014), and estimated as…
  26. Peters and Co Energy Conference – Range Resources Corp – slide 26
    Gas In Place (GIP) Analysis Shows Greatest Potential in SW PA When GIP analysis from the Marcellus, Upper Devonian and Point Pleasant are combined, the largest stacked pay resource is located in SW PA where Range has concentrated…
  27. Peters and Co Energy Conference – Range Resources Corp – slide 27
    Range: Low-Cost, Large Scale Company Total Reserves Breakeven Positions (tcfe) (US/mcf) Range 30.00 2.62 Range has both highest net risked Rex 3.19 2.66 resource and lowest breakeven price in Cabot 18.18 2.71 EQT 15.84 2.74 the…
  28. Peters and Co Energy Conference – Range Resources Corp – slide 28
    SW/NE Pennsylvania Stacked Pays Total (1) Wet Dry Net Acreage Acreage Acreage Upper Devonian 330,000 195,000 525,000 Marcellus 330,000 310,000 640,000 Utica/Point Pleasant - 400,000 400,000 660,000 905,000 1,565,000…
  29. Peters and Co Energy Conference – Range Resources Corp – slide 29
    Range Marcellus 2015 Well Economic Summary SW Super-Rich SW Wet SW Dry NE Dry 12.9 Bcfe 17.6 Bcfe EUR 17.1 Bcf 15.2 Bcf 1,169 Mbbls & 5.9 Bcf 1,501 Mbbls & 8.6 Bcf EUR/1,000 ft. lateral 2.40 Bcfe 2.95 Bcfe 2.52 Bcf 2.67 Bcf…
  30. Peters and Co Energy Conference – Range Resources Corp – slide 30
    Total Appalachian Production Growth is Slowing Resetting Supply with Demand Expected to Improve Prices Appalachian Pipeline Flow Date by Region (Mcf/d) NE PA Limited Takeaway 10,000,000 Negative Basis Shut ins Produce Seasonally…
  31. Peters and Co Energy Conference – Range Resources Corp – slide 31
    Range Appalachia Gas Transportation Arrangements Projected YE 2015 Projected YE 2016 Projected YE 2018 Transport Transport Transport Mmbtu/day Mmbtu/day Mmbtu/day Regional Direction Cost per Cost per Cost per (Gross) (Gross)…
  32. Peters and Co Energy Conference – Range Resources Corp – slide 32
    Takeaway Largely Overbuilt by 2016-2017 50 LNG exports starting in late 2015 40 Appears to have sufficient takeaway capacity by 2016 30 Bcf/d 20 10 0 Appalcahia Consumption Regional Storage Injections Announced…
  33. Peters and Co Energy Conference – Range Resources Corp – slide 33
    Utica/Point Pleasant Update OH PA 1st well produced 2.01 Bcf in 158 days as of July 31 on an interruptible basis 1st well expected to be a top 10 Utica well based on wells with 158 days of production New dry gas gathering…
  34. Peters and Co Energy Conference – Range Resources Corp – slide 34
    Range Resources Quality, Efficiency, Strength at Low Cost 1. Largest acreage position in core of Marcellus, Upper Devonian and Utica 2. Marcellus development has driven down unit costs over 40%; capital costs down 57% or more on a…

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