By OGJ editors
HOUSTON, July 27 – Range Resources Corp., Fort Worth, in June 2010 acquired from a unit of Chesapeake Energy Corp. natural gas properties in Virginia for $135 million.
The properties, which are contiguous with and partly overlap Range’s Nora and Haysi fields, produce 10 MMcfd of gas equivalent on 115,000 net acres with 30 miles of gas pipeline. Range estimated proved reserves acquired at 125 bcfe.
The acquisition blocks up more than 350,000 acres for future development in stacked pay reservoirs of the shallow coalbed methane horizons, tight gas horizons, and the deeper Huron shale.
Range’s Appalachian Division drilled 35 (17.5 net) wells at Nora in the quarter ended June 30, including 12 vertical tight gas sand wells, one horizontal Huron shale well, 15 CBM wells, and 7 infill CBM wells.