Range Resources Says its Marcellus Shale Wells Produce 2-3X More Gas than Barnett Shale Wells
An interesting bit of information from Range Resources about the productivity of Marcellus Shale gas wells vs. Barnett Shale wells:
Despite selling virtually all its Barnett Shale properties in North Texas in April, Range Resources expects to "have fully replaced all of the Barnett production" by the end of the third quarter, CEO John Pinkerton said in an update released in advance of the company’s second-quarter earnings report.
Pinkerton said the Fort Worth-based natural gas and oil producer can boost production because of "excellent drilling results in the Marcellus Shale and Mid-Continent regions."
Based on the performance of 103 Marcellus Shale horizontal wells that began producing in 2009 and 2010, Range is projecting that the estimated ultimate recovery, or lifetime production, from these wells will average the equivalent of 5.7 billion cubic feet of natural gas per well, including about 4 billion cubic feet of gas and 281,000 barrels of liquids (natural gas liquids and crude oil).
The estimated recovery per Marcellus horizontal well is two to three times the estimated lifetime production of many typical wells in the Barnett Shale.*
*Fort Worth Star-Telegram (Jul 19, 2011) – Range production up despite Barnett sale