Range Resources Corp

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Who’s a Member of the Marcellus “1 Bcf/d” Club?
January 29, 2013January 29, 2013

At the end of an article about EQT, Seeking Alpha blogger and energy analyst Richard Zeits includes a short list of companies who either already belong, or soon will join, the “1 billion cubic feet per day club” of Marcellus Shale gas production.

So far only one driller has achieved 1 Bcf/d of Marcellus production (quick, which one is it?). EQT will likely join the club in 2014. Who else is on the short list to join them? Read on to find out…

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Economic Impact | Energy Companies | Industrywide Issues | Lease & Royalty Payments | Pennsylvania | Range Resources Corp | Statewide PA

Royalty Payments to PA Landowners Create Big Impact
January 28, 2013January 28, 2013

An analysis by AP finds royalty payments to landowners in Pennsylvania are quickly catching up to royalty payments to landowners in other oil and gas states like Alaska and Wyoming. The National Association of Royalty Owners (NARO) said PA is their fastest growing chapter.

How much in royalty payments were PA landowners paid (collectively) for 2012? What’s the average percentage landowners are paid? And which driller has paid more than $1 billion in royalties to PA landowners since 2008? Some answers about royalties in general, and PA in particular…

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Energy Companies | Energy Services | Ethane | Exporting | Industrywide Issues | Pennsylvania | Pipelines | Range Resources Corp | Statewide PA | Sunoco Logistics

Philly Refinery Strikes Deal to Export SW PA Marcellus Ethane
January 25, 2013January 25, 2013

Marcellus Shale ethane, a valuable hydrocarbon recovered from natural gas wells in areas of southwestern Pennsylvania, will be exported to Norway from the recently reopened Sunoco Logistics terminal in Marcus Hook (near Philadelphia). Ethane and propane exports from the terminal are expected to ramp up in about two years once the new Mariner East pipeline from southwest PA is completed.

So who’s buying the ethane, and who’s selling it?…

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Energy Companies | Range Resources Corp

Range Resources 4Q12 Results: NatGas up 35%, NGLs up 41%
January 16, 2013January 16, 2013

Range Resources today issued an update stating the company’s natural gas production for the fourth quarter of 2012 was an average 844 million cubic feet per day—an increase of 35% over the same period in 2011 and 7% higher than the third quarter of 2012. Natural gas liquids production rose an astonishing 41% over the same period in 2011.

Range is one of the largest drillers in the Marcellus Shale and much of their production comes from the Marcellus—particularly southwestern PA. Today’s Range announcement:

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Anadarko | Chesapeake Energy | Chevron | CONSOL Energy | Coterra Energy (Cabot O&G) | Energy Companies | EQT Corp | Exxon Mobil | Noble Energy | Range Resources Corp | Shell | Southwestern Energy | Talisman Energy

Motley Fool’s “Moguls of Marcellus”
December 20, 2012December 20, 2012

The Motley Fool investing website published a “round-up” type of article yesterday that focuses on the major players (drillers) in the Marcellus Shale, part of a series that looks at major energy plays in the U.S.

The article starts off by listing the top 11 companies by the amount of acreage they lease. They are (from highest to lowest amount of acreage):

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Energy Companies | Range Resources Corp

Range Resources Selling Permian to Concentrate on Marcellus
December 13, 2012December 13, 2012

Range Resources issued their 2013 plans yesterday. Range plans to spend $1.3 billion next year, 85% of which will be spent on drilling in the Marcellus and Mississippian Shale plays. Range owns 500,000 acres of leases between the Marcellus and Mississippian. The focus in 2013 will be on wet gas, which means Range will reduce the rigs they use in northeastern Pennsylvania from the current four to five rigs down to one rig next year.

Range is selling some of its Permian Basin assets in New Mexico and Texas to help fund next year’s drilling budget.

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Allegheny County | Beaver County | Energy Companies | Pennsylvania | Range Resources Corp | Washington County

Public Spat Between Rep. Jesse White & Range Resources Continues
November 19, 2012November 19, 2012

An article in the Pittsburgh Tribune-Review takes a pretty fair look at the troubles faced by PA State Rep. Jesse White and his attacks on Range Resources. Last week Range released some fairly damning emails in response to White’s attacks that seem to indicate White, who had previously courted Range, turned on them when they didn’t provide enough campaign money and support to his liking. The turning point seemed to be when Range turned down White’s request (which he now says was a joke) for a ride to the Super Bowl on a Range jet (see this MDN story).

Saturday’s Tribune-Review article quotes some in his own (Democrat) party expressing their doubts about White’s actions and words:

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Allegheny County | Beaver County | Energy Companies | Pennsylvania | Range Resources Corp | Washington County

Why the Blood Feud Between Jesse White & Range Resources?
November 14, 2012November 14, 2012

It’s evident to anyone who follows the news out of Pittsburgh that there is a blood feud, or grudge match—choose your metaphor—between Pennsylvania State Rep. Jesse White (from western PA) and Range Resources. It wasn’t always that way. Just a few short years ago Rep. White and folks at Range were pals. Not anymore.

Range says White is the one who has changed in this relationship and they’ve released a number of emails as “proof.” The friction seemed to start when Range turned down a request by White for a plane ride to the 2011 Super Bowl…

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Energy Companies | Industrywide Issues | Pennsylvania | Range Resources Corp | Regulation | Taxation | Washington County

PA Rep. Jesse White Contacts MDN to Set Record Straight
October 26, 2012October 26, 2012

Yesterday MDN brought you the story of Cecil Township in Washington County, PA and how Range Resources indicated, according to the town, that they could influence the town resident who has brought a complaint against the town which is keeping the town from receiving $246,000 in impact fee revenue to drop his complaint in return for a private meeting between the town and Range (see this MDN story).

MDN quoted PA State Rep. Jesse White as part of that story. Rep. White said such an overture by Range is “extortion, plain and simple.” As part of that story, MDN referred to Rep. White as anti-drilling. He contacted us to set the record straight on that score. We always like to be accurate! So we’re happy to convey what Rep. White said.

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Energy Companies | Range Resources Corp

Range Resources 3Q12: 24 New Wells in ‘Super-Rich’ Marcellus
October 25, 2012October 25, 2012

Range Resources posted its financial and operating update for the third quarter of 2012 yesterday. MDN has pulled out the operational report for the Marcellus Shale and includes it below. Of particular interest in the Range update are two items: 1) Range’s continued focus on what they call their “super-rich” area of the Marcellus—an area they define as having wet gas present with 1,350 Btus or higher; 2) Range had a “significant step-out well” in the super-rich area that tested at 1,044 barrels per day of natural gas liquids.

MDN has also included (below) a copy of a map Range published as part of a presentation earlier this year outlining where the super-rich area for them is located.

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Energy Companies | Hydraulic Fracturing | Industrywide Issues | Pennsylvania | Range Resources Corp | Regulation | Washington County

PA State Rep. White Accuses Range Resources of Extortion
October 25, 2012October 25, 2012

Pennsylvania State Rep. Jesse White (D) from Cecil, PA (Washington County) is a well-known and devoted anti-driller. He’s accusing Range Resources of attempted extortion of the Town of Cecil. Here’s the background:

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Energy Companies | Range Resources Corp

Range Resources Release Q312 Production Numbers
October 11, 2012October 11, 2012

Range Resources, the original driller of the Marcellus Shale in Pennsylvania, announced its third quarter production results today. All of the numbers that should be up are up. Year over year, Range’s natural gas production is up 52%, natural gas liquids production is up 30%, and oil production is up 36%.

From the Range announcement:

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Energy Companies | Energy Services | Exporting | Industrywide Issues | NGLs | Pennsylvania | Pipelines | Processing Plants | Range Resources Corp | Statewide PA | Sunoco Logistics

Range Announces They’re Main Shipper for Mariner East Pipeline
September 27, 2012September 27, 2012

In a follow-on announcement to Sunoco Logistics Partners (see this MDN story), Range Resources says it is the anchor shipper for the Mariner East Pipeline that will connect western Pennsylvania to the Marcus Hook refinery near Philadelphia. Range announced they’ve signed a 15-year agreement with Sunoco to ship Marcellus Shale natural gas liquids to the Philly refinery. They also announced they’ve signed a 15-year contract to export and sell ethane to INEOS Europe from the Marcus Hook refinery. Range plans to start selling 10,000 barrels per day beginning in 2015 and eventually double that to 20,000 bpd.

Here is the lengthy press release from Range announcing their deal with Sunoco Logistics and also listing other NGL sales agreements Range has negotiated:

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Crawford County | Energy Companies | Pennsylvania | Range Resources Corp

Crawford County, PA Sees First Utica Shale Well Drilled
September 19, 2012September 19, 2012

Although there’s plenty of conventional, shallow gas wells in Crawford County (in the northwestern corner of Pennsylvania), the very first unconventional, horizontal well has just been drilled in the Utica Shale in Crawford County. Starting as soon as today, it will be fracked.

Here’s the details:

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Energy Companies | Lease & Royalty Payments | Pennsylvania | Range Resources Corp | Washington County

Some Landowners Find Waiting Too Long to Lease Doesn’t Pay
August 27, 2012August 27, 2012

Hopewell Township in Washington County, Pennsylvania is the state’s single most densely drilled township. Leases in Hopewell go back to the 2005, the dawn of the modern shale gas drilling age in PA, and the driller who holds almost all of the leases in Hopewell is Range Resources, the company that sank the very first Marcellus Shale well which happened to be in Mt. Pleasant Township, which borders Hopewell (drilled in 2004).

Most of the residents of Hopewell have a tie to the shale drilling industry—either as landowners with leases or with jobs working directly or indirectly with the drilling industry. But that doesn’t mean landowners in Hopewell are getting top dollar for leasing their property. Quite the contrary. This is a cautionary tale about waiting too long to lease in hopes of getting a better price…

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Energy Companies | Range Resources Corp

Podcast: Robert Mangino Talks with Range’s Matt Pitzarella
August 8, 2012August 8, 2012

Pittsburgh KDKA 1020 Radio’s Robert Mangino talks with Matt Pitzarella of Range Resources and Gene Barr, president of the Pennsylvania Chamber of Business and Industry. Robert Mangino hosts a Marcellus Shale hour on his radio talk show each Tuesday at 7 pm.

Listen to the latest show below:

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