Range Resources ups capital budget on positive Marcellus results

Range Resources Corp., Ft. Worth, reported it will increase its capital budget for 2014 by $220 million to $1.52 billion, citing positive results in the Marcellus shale as the reason.

With the move, 87% of the company’s capital program will be directed toward activities in the play.

Range reported its estimated unrisked unproved resource potential as of Dec. 31, 2013, increased to 64-85 tcf of natural gas equivalent, which includes 42-55 tcf of gas and 3.7-4.9 billion bbl of natural gas liquids and crude oil. About 62% of the unproved resource potential is attributable to the Marcellus shale where Range has 955,000 net acres across the play.

Range reported that it pioneered the Marcellus shale play in 2004 with the successful drilling of the Renz No. 1 vertical well.

Related Articles

Market watch: Energy futures prices rose slightly Friday

05/06/2002 Crude oil futures prices rose slightly Friday amid lingering uncertainty about a possible disruption of Middle East supplies, although tensions in ...

Gulf of Mexico oil service sector showing signs of an upturn

05/06/2002 The Gulf of Mexico oil service sector is experiencing the signs of an upturn, analysts with Simmons & Co. International, UBS Warburg LLC, and RBC D...

OTC: Industry, national agencies need to work together to make FPSOs work in the gulf

05/06/2002 Over the coming years, the oil and gas industry will have to keep an open line of communication with national agencies such as the US Coast Guard a...

Market watch: Energy futures prices fall as Iraq lifts embargo

05/07/2002 Crude oil futures prices fell Monday after Iraq announced plans to lift a self-imposed export embargo with exports expected to resume by Wednesday.

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