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Range Resources operations update positive, says Wells Fargo

Wells Fargo is upbeat about Range Resources' operations update, partly because the company stated that the outperformance of its 2012 vintage wells in the Super-Rich Marcellus is being driven by higher EURs rather than just an acceleration of production. The firm also believes that solid Permian rates reported by the company could help pique interest as it markets its 90,000 acres in the region. The firm keeps a Market Perform rating on the stock.