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:
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:
Read More “Range Announces They’re Main Shipper for Mariner East Pipeline”
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:
Read More “Crawford County, PA Sees First Utica Shale Well Drilled”
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…
Read More “Some Landowners Find Waiting Too Long to Lease Doesn’t Pay”
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:
Read More “Podcast: Robert Mangino Talks with Range’s Matt Pitzarella”
Range Resources has begun drilling a Utica Shale well in Crawford County, PA (northwest corner of the state), which is the very first shale well—Utica or Marcellus—to be drilled in Crawford County. But it’s not the only well they plan to drill.
An update on what’s known about Range’s plans for Crawford:
Read More “Crawford County, PA First Shale Well Drilled in Utica”
Crawford County, PA, a county in the northwest corner of the state bordering Ohio, is about to have its first Utica Shale well (in fact, its first shale well of any kind) fracked by the driller who started the shale revolution in the Marcellus: Range Resources.
Read More “Crawford County, PA First Utica Shale Well Fracked”
Range Resources announced second quarter results today. Production volumes for all classes (natgas, NGLs and oil) are up an eye-popping 42% over the same quarter last year, and up 10% from the first quarter of this year. And if they remove the Barnett Shale numbers from the equation for last year, production would have been up 51%. Range sold off their Barnett assets last year, which included 390 active wells on 52,000 net acres. Range’s main focus continues to be the Marcellus and Utica Shale region.
Production, by volume, was 80% natural gas, 14% natural gas liquids, and 6% crude oil. From the press release:
Read More “Range Resources O&G Production Sees Huge Increase in 2Q12”
A husband and wife in Brooke County, West Virginia are suing to have their 5 year-old lease, which is now expired and up for renewal, nullified so Chesapeake (now the owner of the lease) cannot automatically renew it as they are attempting to do.
Increasingly landowners who signed leases that are now expiring after a customary 5 year period face the same issue—and drillers are trying to lock them in under the terms of lease for a new period of time.
Here’s the story of Ramon and Lois Bowen:
The federal Environmental Protection Agency (EPA) is investigating whether or not drilling activity by Range Resources at their Yeager Marcellus Shale site in Washington County, PA is causing air pollution and groundwater contamination. Range operates a wastewater pond and a drill cuttings pit at the site.
Several families living close to the site filed a personal injury lawsuit last month against Range.
Read More “EPA Investigating Range Drill Site in Western PA”
The Pennsylvania Environmental Hearing Board (EHB) ruled on May 16 that a Washington County resident who claims that nearby shale gas drilling is responsible for his water well being contaminated with methane and chemicals can appeal a Department of Environmental Protection (DEP) determination that his well was not contaminated by shale drilling.
Read More “PA Resident Wins Right to Appeal DEP Water Contamination Case”
Al Amrendariz, EPA Region 6 administrator (Texas and surrounding states) has been hoist by his own petard. Yesterday he resigned—in disgrace. It seems nearly everyone (but anti-drillers) were calling for his resignation after a video of Armendariz came to light where he outlined his philosophy of enforcement against energy company “violators” to that of the Romans who used to enter a village, find the first five men, and crucify them—which had the effect of, shall we say, making everyone else behave themselves (see MDN’s previous story on Armendariz to watch the infamous video).
Read More “EPA Administrator Al Armendariz Resigns over Crucify Comment”
Lest you think MDN is a bit off the reservation when it comes to criticisms of the federal Environmental Protection Agency (EPA), you might want to read about EPA Region 6 administrator Al Armendariz in an expose by Forbes magazine. Region 6 oversees Texas and surrounding states. Armendariz, a former professor at Southern Methodist University and appointed by President Obama in November 2009 to be Region 6 administrator, is caught on tape talking about his philosophy of “enforcement” and how to target oil and gas companies. He compares his approach to enforcement to how the Romans used to enter a village, find the first five men they could find and crucify them on the spot so the other villagers would be compliant. (See the embedded video below.)
Read More “EPA Region 6 Administrator: Crucify Energy Companies”
As part of Range Resource’s first quarter financial and operational update they released a PowerPoint presentation. With a theme of “inflection point,” Range lays out the case for why they believe double-digit growth is ahead for the company in the coming years. As MDN reviewed the slide deck, we found a number of slides we think you might like to view, so we’ve embedded the slide deck below and call your attention to the following slides:
Read More “Range Resources Slide Deck: Complete with Cool Maps”
Range Resources released their first quarter results yesterday. As is usually the case, the press release they issued (below, in its entirety) is dense with facts and figures and financial terms. Who wants to read all of it?! (That’s why you read MDN!) Yet there is important information contained in it. MDN will “bottom line” it first, and then we’ll highlight those sections which would be of most interest to landowners—people who either have signed with Range and want to know what they’re up to, or those who have not yet signed and want to know if Range is the kind of company they should sign with.
Range Resources reports today their natural gas production for the first quarter of 2012 increased 20 percent over the same period last year. Range CEO Jeff Ventura says the company is well on the way to achieving their 2012 goal of a 30-35 percent increase in production. Range also said the new impact fee in Pennsylvania will cost them $13.6 million for the first three months of 2012, as well as an additional one-time expense of $24 million, a retroactive fee to cover previous drilling (required under the new Act 13 law).
From the Range press release:
Read More “Range Resources 1Q12 Production Results, PA Impact Fees”