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.