Range sees 200 MMcfd from Marcellus by yearend 2010

Dec. 16, 2009
Range Resources Corp., Fort Worth, one of the top operators in the Devonian Marcellus shale gas play, said it expects to end 2010 at a net 180-200 MMcfd of gas equivalent from the formation and believes drilling so far has derisked 390,000 acres in southwestern Pennsylvania.

By OGJ editors
HOUSTON, Dec. 16
-- Range Resources Corp., Fort Worth, one of the top operators in the Devonian Marcellus shale gas play, said it expects to end 2010 at a net 180-200 MMcfd of gas equivalent from the formation and believes drilling so far has derisked 390,000 acres in southwestern Pennsylvania.

The operator also said its net production has reached a net 100 MMcfd of gas equivalent from the formation and forecast that to rise to 360-400 MMcfd of gas equivalent by yearend 2011. The current output figure is a fourfold increase since late 2008.

Range is ending 2009 with 11 horizontal and vertical rigs working compared with 4 rigs last January. The count will climb to 24 rigs by the end of 2011. Production rates are rising and costs are falling, the company said.

The company also said it has drilled two horizontal wells in Lycoming County, northeastern Pennsylvania, one of which is in completion.

Range also is testing other shale formations above and below the Marcellus.

John Pinkerton, chairman and chief executive officer, said, “All of us at Range are proud to have pioneered the Marcellus shale and believe it is a shining example of the private sector working together with public agencies to create a long-lasting stimulus. Importantly, clean-burning natural gas produced in the US can reduce our dependence on foreign oil, create jobs, strengthen our economy and dramatically reduce carbon emissions.”