Range Resources 3Q16: Smaller Loss of $42M, Marc Production Up 9%

Range ResourcesRange Resources, the very first company to sink a Marcellus well, issued their third quarter update yesterday. Among the highlights: Range lost $42 million for the quarter, which is a vast improvement over 3Q15 when the company lost $301 million. So things are getting better, financially. Marcellus production was 1,396 million cubic feet equivalent (Mmcfe) per day, a 9% increase over 3Q15. Range’s “Southern” division, in SWPA, saw a 23% increase in production, but because Range sold some assets in Bradford County, their “Northern” division saw a 39% decrease (year over year) in production. Range continues to focus its efforts in the southwest PA area, saying the company “continues to drill and complete outstanding wells, with peer-leading EURs, while continuing to drive costs lower.” Here is yesterday’s 3Q16 update from Range…

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