IMO, Range Resources is oversold. This is a high quality company with an incredible track record of growth. Heavy action in the Call Options may be an indication that Wall Street agrees with me. RRC is heavily weighted to gas but they have a good hedging program. Risk is that natural gas prices dive once NG storage is full. - Dan
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For Wednesday's Options Action, Mike Khouw of Cantor Fitzgerald is looking at Range Resources (RRC).
Down 23% on the year, this energy company disappointed by 13% when it reported earnings earlier this week. But on Wednesday, the stock pushed higher and Khouw saw some "extrodinary" movement in the front month options. He took this as a bullish.
RRC may have set a bottom
RRC may have set a bottom
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: RRC may have set a bottom
dan, weekly charts don't indicate a bottom, yet. major support is 27-32
Re: RRC may have set a bottom
Keep an eye on RRC for us. I was very impressed by what I read in the 2nd quarter press release (14% production growth this year and 25% production growth in 2011). RRC has an incredible inventory of exploitation projects.
I will be working on a company profile for RRC this weekend.
RRC was a Sweet 16 portfolio stock for several years and one of my biggest winners. I know the company well.
Dan
I will be working on a company profile for RRC this weekend.
RRC was a Sweet 16 portfolio stock for several years and one of my biggest winners. I know the company well.
Dan
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: RRC may have set a bottom
i believe rrc has set at least a temporary bottom. it has barely broken its downtrend line. a rise to 40 would make me feel better.
Re: RRC may have set a bottom
For those not familiar with RRC (in the S-16 for five years from 2003 - 2008), it is heavily weight to natural gas. But their Marcellus acreage is prime stuff and the gas their is high btu so they get a lot of liquids. At today's NG and NGL prices their realized price in the Marcellus is over $7/mcf.
RRC is a Core Holding quality company with a lot more upside than downside at the current price.
RRC did sell most of its New York acreage so they are not directly affected by the state ban on fracing.
I do not own a share by it is high on my radar screen now.
Dan
RRC is a Core Holding quality company with a lot more upside than downside at the current price.
RRC did sell most of its New York acreage so they are not directly affected by the state ban on fracing.
I do not own a share by it is high on my radar screen now.
Dan
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: RRC may have set a bottom
Range Posts First Voluntary Marcellus Shale Hydraulic Fracturing Disclosure Forms
CANONSBURG, Pa., Aug 12, 2010 (BUSINESS WIRE) -- Range Resources Corporation /quotes/comstock/13*!rrc/quotes/nls/rrc (RRC 36.13, -0.20, -0.55%) announced today that it has submitted its first hydraulic fracturing disclosure forms to the Pennsylvania Department of Environmental Protection (DEP) and has posted the information on the Range website (www.rangeresources.com). The information covers the first three Marcellus Shale wells in Pennsylvania that Range has hydraulically fractured since implementation of the voluntary initiative. As additional Marcellus wells are drilled, Range will provide similar information within approximately 30 days of completion.
On July 14, 2010, Range announced its voluntary initiative to disclose Marcellus Shale hydraulic fracturing additives. The purpose of the initiative is to provide regulators, landowners and citizens of Pennsylvania an accounting of the highly diluted additives used at each well site. In reaction to the initiative, Range has received supportive response from policy makers, regulators, Pennsylvania citizens and environmental and conservation groups. Commenting on the effort, U.S. Congressman Mike Doyle (D-PA) said, "With many questions about the environmental impact of hydraulic fracturing in the Marcellus Shale still unanswered, I commend Range Resources for its decision to voluntarily disclose information about the contents of the fluids they are using in that process on a per well basis, and I strongly encourage other companies drilling in the Marcellus Shale to disclose the components of their fluids in that kind of detail as well."
"We are very pleased with the response we have received to our initiative and our commitment to achieving the proper balance of pursuing the enormous opportunity that the Marcellus Shale provides and implementing a standard of care for the environment and the communities where we live and work. We're hopeful that our voluntary effort will help to dispel misconceptions about the process and allow Range and others to deliver on the potential of this extraordinary resource base," said John Pinkerton, Chairman and CEO of Range Resources. "Our voluntary initiative represents the beginning of a series of announcements and efforts that Range is undertaking to allow people to better understand that natural gas is a valuable resource that can be pursued responsibly and for the benefit of the citizens in the regions where it's developed and for the future of the United States."
Over the last two and a half years, Range's commitment to education, transparency and accountability has included more than 1,000 educational initiatives that include town hall meetings, small group presentations, individual meetings and field tours for interested people and organizations. As part of these efforts, Range recently participated in a field hearing of the Senate Health Education, Labor and Pensions Committee entitled "Emergency Response in the Marcellus Shale Region," hosted by U.S. Senator Bob Casey (D-PA).
Range extends an open invitation to all interested policy makers to see first-hand Range's commitment to conducting Marcellus operations in a balanced and responsible way and to contribute to the once-in-a-lifetime opportunity that clean-burning natural gas presents to Pennsylvania and to the United States.
RANGE RESOURCES CORPORATION /quotes/comstock/13*!rrc/quotes/nls/rrc (RRC 36.13, -0.20, -0.55%) is an independent natural gas company operating in the Southwestern and Appalachian regions of the United States.
SOURCE: Range Resources Corporation
CANONSBURG, Pa., Aug 12, 2010 (BUSINESS WIRE) -- Range Resources Corporation /quotes/comstock/13*!rrc/quotes/nls/rrc (RRC 36.13, -0.20, -0.55%) announced today that it has submitted its first hydraulic fracturing disclosure forms to the Pennsylvania Department of Environmental Protection (DEP) and has posted the information on the Range website (www.rangeresources.com). The information covers the first three Marcellus Shale wells in Pennsylvania that Range has hydraulically fractured since implementation of the voluntary initiative. As additional Marcellus wells are drilled, Range will provide similar information within approximately 30 days of completion.
On July 14, 2010, Range announced its voluntary initiative to disclose Marcellus Shale hydraulic fracturing additives. The purpose of the initiative is to provide regulators, landowners and citizens of Pennsylvania an accounting of the highly diluted additives used at each well site. In reaction to the initiative, Range has received supportive response from policy makers, regulators, Pennsylvania citizens and environmental and conservation groups. Commenting on the effort, U.S. Congressman Mike Doyle (D-PA) said, "With many questions about the environmental impact of hydraulic fracturing in the Marcellus Shale still unanswered, I commend Range Resources for its decision to voluntarily disclose information about the contents of the fluids they are using in that process on a per well basis, and I strongly encourage other companies drilling in the Marcellus Shale to disclose the components of their fluids in that kind of detail as well."
"We are very pleased with the response we have received to our initiative and our commitment to achieving the proper balance of pursuing the enormous opportunity that the Marcellus Shale provides and implementing a standard of care for the environment and the communities where we live and work. We're hopeful that our voluntary effort will help to dispel misconceptions about the process and allow Range and others to deliver on the potential of this extraordinary resource base," said John Pinkerton, Chairman and CEO of Range Resources. "Our voluntary initiative represents the beginning of a series of announcements and efforts that Range is undertaking to allow people to better understand that natural gas is a valuable resource that can be pursued responsibly and for the benefit of the citizens in the regions where it's developed and for the future of the United States."
Over the last two and a half years, Range's commitment to education, transparency and accountability has included more than 1,000 educational initiatives that include town hall meetings, small group presentations, individual meetings and field tours for interested people and organizations. As part of these efforts, Range recently participated in a field hearing of the Senate Health Education, Labor and Pensions Committee entitled "Emergency Response in the Marcellus Shale Region," hosted by U.S. Senator Bob Casey (D-PA).
Range extends an open invitation to all interested policy makers to see first-hand Range's commitment to conducting Marcellus operations in a balanced and responsible way and to contribute to the once-in-a-lifetime opportunity that clean-burning natural gas presents to Pennsylvania and to the United States.
RANGE RESOURCES CORPORATION /quotes/comstock/13*!rrc/quotes/nls/rrc (RRC 36.13, -0.20, -0.55%) is an independent natural gas company operating in the Southwestern and Appalachian regions of the United States.
SOURCE: Range Resources Corporation