Sunoco is performing “optimization work” at the Marcus Hook export terminal this month. Marcus Hook is where two (soon to be three) Mariner East Pipelines terminate, hauling NGLs (propane, ethane, butane) from western Pennsylvania and eastern Ohio all the way to the Philadelphia area. At Marcus Hook the NGLs get separated and most (not all, but most) get loaded onto ships for export to other countries. Sunoco needs to upgrade a few things to export even more. They’re shutting down Marcus Hook this month, and that’s a (temporary) problem for the main shipper sending NGLs to the facility–Range Resources.
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Category: Range Resources Corp
PA Fed Judge Won’t Dismiss Landowner Royalty Case Against Range
Last October MDN brought to your attention a lawsuit filed by a Washington County, PA couple, Robin and Thomas Pflasterer, against Range Resources (see Range Resources Sued by PA Landowner re Post-Production Deductions). The Pflasterers maintain Range deducted post-production expenses not allowed under their lease. Range argued the Pflasterers didn’t have the proper paperwork to back up their claims and asked for the case to be dismissed.
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M-U Companies Dominate Top 10 NatGas Producers in 2019
Quick: Which company which recently had a board and upper management shakeup and focuses exclusively on Marcellus/Utica drilling is the #1 natural gas producer in the United States? That’s right, EQT. In a list of the top 40 natgas producers in the U.S. (full list below), it’s striking to note that eight of the top 10 are focused exclusively or primarily on the M-U.
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Range Resources 2Q – Production Up 10% Despite MarkWest Outage
Production for Range Resources was up a healthy 10% year over year in second quarter 2019, according to Range’s 2Q19 update issued late last week. Range produced 2.3 billion cubic feet equivalent per day (Bcfe/d) in 2Q. For the first half of the year Range brought online 39 Marcellus/Utica wells and plans to bring online another 49 wells in the second half of 2019. The company is on track to spend roughly $750 million on drilling in 2019.
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Mystery Solved: Lime Rock Buyer of 2% Royalty Interest in Range
On Monday MDN brought you the news that Range Resources has sold a 2% overriding royalty interest on 350,000 acres “in southwest Appalachia” for $600 million (see Range Resources Sells 2% Royalty Interest + 20K Acres for $634M). Range’s announcement did not identify who, exactly, was the company doing the purchasing. Yesterday Lime Rock Resources, which acquires and operates producing oil and gas wells across the country (as well as investing in others’ programs) self-identified as the buyer.
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Range Resources Sells 2% Royalty Interest + 20K Acres for $634M
On Friday Range Resources, the very first company to sink a Marcellus well back in 2004, announced two deals that will net the company $634 million total. In the first deal, Range sold a 2% overriding royalty interest on 350,000 acres “in southwest Appalachia” for $600 million. In the second deal, Range sold ~20,000 non-producing acres in Armstrong County for $34 million ($1,700/acre).
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Range Resources Lays Off 5% of Employees – PA Affected
Yesterday the Pittsburgh Business Times broke the news that Range Resources, one of the Marcellus/Utica’s biggest drillers (and in fact the very first driller to sink a Marcellus well, back in 2004), has laid off 40 employees–roughly 5% of its workforce. The layoffs are split between the company’s Pennsylvania and Texas operations.
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PA Court Denies “Standing” for Grandma Fighting Range Well
A grandmother concerned that if Range Resources were to build a well pad three-fourths of a mile from her granddaughter’s school (in Washington County, PA) instead of building it a full mile from the school, tried to gain legal standing to challenge a permit granted to Range by Mount Pleasant Township. Grandma says her granddaughter has a sensitivity to benzene fumes. Yesterday a Commonwealth Court panel ruled she does NOT have legal standing to challenge the permit.
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Range, Others Paid SWPA Landowners $3M to Settle “Haney” Case
Three families who lived near a former drill site and frack wastewater impoundment in Washington County, PA sued Range Resources in May 2012 claiming the air they breathe and the water they drink had been contaminated by Range’s operations at the site (see EPA Investigating Range Drill Site in Western PA). Range eventually settled what became known as the “Haney” case with the three families in 2018. The settlement was, until yesterday, secret. Facing ongoing pressure from “media” outlets, Range released a copy of the settlement showing the families got a collective $3 million–minus 33% for overpaid lawyers.
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Pittsburgh Post-Gazette Continues Vendetta Against Range Resources
Pennsylvania Attorney General, Josh Shapiro, and the anti-drilling Pittsburgh Post-Gazette, continue their tag-team effort to criminalize and humiliate Range Resources. Shapiro, a sleazy politician, is investigating so-called environmental “crimes” committed by shale companies in a bid to boost his chances of being the next nominee to run for governor (see PA AG Investigates Shale Drillers for “Enviro Crimes”). One of Shapiro’s sham investigations is into Range Resources and the long-ago settled “Haney” court case. The Post-Gazette is trying to get sealed court documents unsealed in the Haney case.
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Range Resources Commits to Zero Methane Emissions…Someday
Range Resources released its first-ever Corporate Sustainability Report earlier this week. The report reviews Range’s accomplishments at reducing so-called greenhouse gases (methane emissions) over the past 10 years. However, the big news contained in the report is that Range is committing to the goal of zero greenhouse gas emissions from its operations. Someday. In the future. The report and the goal of zero emissions comes in response to pressure last year from a wacko leftist group that floated a shareholder resolution that almost passed.
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Range Resources Promotes Dennis Degner to COO; CEO-in-Waiting?
Over the years we’ve reported on the rising star of Dennis Degner at Range Resources. In 2016 Degner was named vice president for Range’s Southern Marcellus Shale Division (see Range’s Dennis Degner Named VP of Southern Marcellus Shale). In 2018 Degner was promoted again, to senior VP of operations, including responsibility for the company’s Louisiana Haynesville Shale drilling program in addition to the Marcellus (see Range Resources Update: Dennis Degner Promoted, $333M Profit). And now, Degner has been named Chief Operating Officer for the company.
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Study Shows No Health Impacts from Marcellus Drilling Near School
One of the false allegations made against shale drilling is that it somehow pollutes the air–of particular concern near schools. A new independent two-year study commissioned by Range Resources at one of their drilling sites, located about a mile from a local school, thoroughly debunks that allegation. A first-of-its kind public health and long-term ambient air monitoring report (full copy below) provides analysis from nearly two years of continuous data from an unconventional Marcellus Shale well site nearby a high school and elementary school campus in Washington County, PA. The study found no health impacts from shale drilling.
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SWPA County Judge Rules Range Can’t See Reporters’ Notes/Sources
So-called reporters, like some at the Pittsburgh Post-Gazette, must have known they were breaking the law by using confidential information (sealed under a court order) in some of their anti-shale articles. Range Resources, fighting against an out-of-control Attorney General (Josh Shapiro) who wants to charge the company with crimes, wants to depose those reporters to try and find out who, exactly, broke the law in leaking information that is sealed by court order. However, a county judge won’t let Range do it. Not yet, anyway.
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Range Resources 1Q19 – Happy ME1 is Finally Back Online
Range Resources issued its first quarter 2019 update earlier this week. Natural gas liquids (NGLs) were one of the themes of the update and analyst phone call–and no wonder why. The company produced an average of 2.26 billion cubic feet equivalent per day (Bcfe/d) of natural gas in 1Q19, nearly one-third (31%) of which was NGLs. Ethane and propane, getting them to market, is a major focus for Range.
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Did Range Shale Well in Lycoming County Cause Methane Migration?
In August 2017 Range Resources and the Pennsylvania Dept. of Environmental Protection (DEP) officially settled alleged methane migration from a well Range drilled in 2011 in Lycoming County, PA (see Range/DEP Lycoming Well Settlement: From $8.9M Fine to $0). That settlement caused “outrage” with anti-drillers back then, and continues to cause outrage to this day. Hence another story in the Pittsburgh Post-Gazette dredging up the same old story once again, trying to make out Range to be an evil big corporation screwing over PA residents who suffer to this day.
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