RRC
Posted: Fri Oct 18, 2013 2:49 pm
I recommend RRC because it is one of the "Smart Ways" to get exposure to natural gas. The company has 20% annual production growth locked in for the next five years and they hold a commanding acreage position in the world's best natural gas resource play the Marcellus Shale. - Dan
RANGE RESOURCES CORPORATION (RRC) today announced that its third quarter 2013 production volumes reached a record high of 960 Mmcfe per day, a 21% increase over the prior year quarter.
• Production was 77% natural gas, 16% natural gas liquids (“NGLs”) and 7% crude oil and condensate.
• Compared to the prior year quarter, oil and condensate production increased 43%, NGL production rose 28%, while natural gas production increased 19%.
• Adjusting for the sale of the New Mexico properties which closed at the beginning of the second quarter of 2013, third quarter production would have increased 24% over the prior year quarter with oil and condensate production increasing 58%, NGL production increasing 29% and natural gas production increasing 21%.
The record production was primarily driven by the continued success of the Company’s drilling program in the Marcellus Shale. Third quarter production of 960 Mmcfe per day exceeded the high-end of Company guidance of 945 – 950 Mmcfe per day due to continued positive performance of wells in the Marcellus Shale and the timing of turning wells to production.
RANGE RESOURCES CORPORATION (RRC) today announced that its third quarter 2013 production volumes reached a record high of 960 Mmcfe per day, a 21% increase over the prior year quarter.
• Production was 77% natural gas, 16% natural gas liquids (“NGLs”) and 7% crude oil and condensate.
• Compared to the prior year quarter, oil and condensate production increased 43%, NGL production rose 28%, while natural gas production increased 19%.
• Adjusting for the sale of the New Mexico properties which closed at the beginning of the second quarter of 2013, third quarter production would have increased 24% over the prior year quarter with oil and condensate production increasing 58%, NGL production increasing 29% and natural gas production increasing 21%.
The record production was primarily driven by the continued success of the Company’s drilling program in the Marcellus Shale. Third quarter production of 960 Mmcfe per day exceeded the high-end of Company guidance of 945 – 950 Mmcfe per day due to continued positive performance of wells in the Marcellus Shale and the timing of turning wells to production.