Range 2020 Update: Drilled 67 Wells, Avg 2.2 Bcf/d, Lost $712M

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Range Resources issued its fourth-quarter and full-year 2020 update yesterday. Range was the very first driller to sink a Marcellus well, back in 2004. The company currently owns ~460,000 acres in the M-U, most of it in the "wet gas" region which produces higher-profit NGLs. Range made $38 million in net profit during 4Q20, but lost $712 million for the entire year. However, the yearly loss is better than 2019 when Range lost $1.7 billion (heading in the right direction).

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