Range Resources (RRC)

[dan_s]

At our Dallas luncheon on December 14th, Range Resources (RRC) made the point that they spaced out their Marcellus Shale drilling program to hold the most leasehold. Now Range has over 200 well pads that are already built out that the company plans to drill new wells from. The company's transition to development mode from existing pads will lower their completed well costs by 15-20%. Combine this with increasing natural gas and NGL prices and Range's well-level economics should be significantly better when they sit down to prepare their year-end reserve report.

Improved well-level economics extend the economic lives of the leases and increase P1 reserves.

[ChuckGeb]

Great insight. Are you going to be able to get them to a lunch in Houston?

[dan_s]

Yes, I think RRC will host a Houston luncheon after they release year-end results. They were very impressed by the quality of our group in Dallas. We had ~40 attendees. I told them we have over 100 attendees in Houston. My guess is that RRC would draw close to 150 in Houston.

Our largest crowd ever in Houstn was 144 for the STACK presentation in May.
Below is the link to the video from that luncheon in case you missed it:
http://digitalgate.tv/EPG-NavPort%20Pre ... y2016.html