Range Resources reports record Q3 production

theflyonthewall.com

Range Resources' Q3 production volumes reached a record high of 960 Mmcfe per day, a 21% increase over the prior year quarter. Production was 77% natural gas, 16% natural gas liquids and 7% crude oil and condensate. Compared to the prior year quarter, oil and condensate production increased 43%, NGL production rose 28%, while natural gas production increased 19%. The record production was primarily driven by the continued success of the company’s drilling program in the Marcellus Shale. Preliminary Q3 natural gas, NGLs and oil price realizations averaged $4.80 per mcfe, a 2% composite decrease from the prior year quarter.

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