Yesterday Range Resources announced it is hacking off another $90 million from its 2020 budget. In January the company announced it would reduce its 2020 budget by 29%, from spending $728 million last year to $520 million this year (see Range Releases 2020 Budget: Spending 29% Less, Focus on Marcellus). Yesterday the number for this year went down to $430 million, a 40% cut over last year’s budget. The reason for the additional cut? The ongoing low price of natural gas.
Yesterday Range Resources announced it is hacking off another $90 million from its 2020 budget. In January the company announced it would reduce its 2020 budget by 29%, from spending $728 million last year to $520 million this year (see 