Range Resources (RRC)
Posted: Thu Apr 11, 2013 8:24 pm
Range is the closest thing we have to a "gasser". Increasing production (above my forecast) and increasing gas prices is going to push up my Fair Value Estimate. RRC and UNT are my top picks for those of you that agree with me that natural gas prices are heading higher. CRZO, EOG, XEC and SM are the other Sweet-16 that will benefit the most from higher gas prices. - Dan
RANGE RESOURCES CORPORATION (RRC) today announced that its first quarter 2013 production volumes reached a record high of 876 Mmcfe per day, a 34% increase over the prior-year quarter. Production was 79% natural gas, 14% natural gas liquids (“NGLs”) and 7% crude oil and condensate. Year-over-year oil and condensate production increased 52%, NGL production rose 22%, while natural gas production increased 34%. The record production was driven by the continued success of the Company’s drilling program primarily in the Marcellus Shale. First quarter production of 876 Mmcfe per day exceeded the high end of guidance of 845 – 850 Mmcfe per day due to the timing of turning wells to production.
RRC also has increased drilling activity in Oklahoma's Mississippi Lime play. I'm eager to get an update on that one.
RANGE RESOURCES CORPORATION (RRC) today announced that its first quarter 2013 production volumes reached a record high of 876 Mmcfe per day, a 34% increase over the prior-year quarter. Production was 79% natural gas, 14% natural gas liquids (“NGLs”) and 7% crude oil and condensate. Year-over-year oil and condensate production increased 52%, NGL production rose 22%, while natural gas production increased 34%. The record production was driven by the continued success of the Company’s drilling program primarily in the Marcellus Shale. First quarter production of 876 Mmcfe per day exceeded the high end of guidance of 845 – 850 Mmcfe per day due to the timing of turning wells to production.
RRC also has increased drilling activity in Oklahoma's Mississippi Lime play. I'm eager to get an update on that one.