Range Revises Unproved Resource Potential Up
Range Resources has revised its unproved resource potential—how much recoverable gas they believe they have in the ground for their leased acreage—by a little bit. At the end of 2011, Range estimated their reserves at 47-66 trillion cubic feet. At the end of 2012, they’ve revised it up to 48-68 Tcf. Not a huge jump, but hey, 1 trillion cubic feet of natural gas will heat 1 million homes for 15 years, just to give you some perspective.
Here’s the announcement from Range: