Range taps Marcellus for first quarter output mark

Continued success of a drilling program mainly in the Marcellus shale has led Range Resources Corp., Fort Worth, to year-to-year production increases of 52% for oil and condensate, 22% for natural gas liquids, and 34% for natural gas in the quarter ended Mar. 31, 2013, the company said.

First quarter 2013 production volumes set a record at 876 MMcfd equivalent, also 34% higher than the first quarter of 2012. First quarter 2013 production was 79% gas, 14% NGL, and 7% oil and condensate.

In the latest quarter the company sold 689 MMcfd of gas at an average of $4.09/Mcf, 20,994 b/d of NGL at $35.29/bbl, and 10,141 b/d of oil and condensate at $85.46/bbl.

The company said it is on track to achieve a 20-25% production growth target for 2013, led by its 1 million net acre Pennsylvania lease position, and that it foresees 20-25%/year production growth for years to come.

Related Articles

Tullow advances Kenya exploration program

03/28/2014 Tullow Oil PLC has moved forward with exploration and appraisal activities conducted by four rigs operating on Blocks 10BB and 13T onshore Kenya.

Lundin completes appraisal wells for Johan Sverdrup

03/28/2014 Lundin Norway AS, a wholly owned subsidiary of Lundin Petroleum AB, has completed Johan Sverdrup appraisal wells 16/3-8 S and 16/3-8 S T2 in the ea...

Kentucky: Daybreak begins 2014 drilling campaign

03/28/2014 Daybreak Oil & Gas Inc., Spokane, Wash., has drilled the first well in its 20-well development drilling program for the 2014-15 fiscal year at ...

BLM seeks comments on Noble’s proposed Nevada gas exploration

03/27/2014 The US Bureau of Land Management is seeking comments on Noble Energy Inc.’s proposed natural gas exploration drilling on leases it holds in the Tab...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected