Range 2Q Update – Maintain 2.1 Bcf/d Output Foreseeable Future
Range Resources’ new CEO, Dennis Degner, told analysts yesterday during a quarterly update that he doesn’t think the commodity price of natural gas and the overall demand for natgas will increase for the rest of this year and most of next year. So Degner will keep the company’s drilling program active enough to keep production at the current level of 2.1 Bcf/d. Range must drill 60-65 new wells yearly to maintain production.
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