Fort Worth-based Range Resources said today its third-quarter production rose 47 percent from a year ago and was up 10 percent from the prior quarter on higher output in the Marcellus Shale and Oklahoma's Mississippi Lime. Production was 79 percent natural gas, 15 percent natural gas liquids and 6 percent oil. Including the effects of hedges, Range said it grossed $4.88 per 1,000 cubic feet equivalent -- $3.88 per mcf for gas, $38.79 a barrel for NGLs and $84.86 for crude oil, before costs. Range also said it will not drill undeveloped Barnett Shale leaseholds that it retained when it sold most of those holdings in 2011. As a result, it will take a $20 million non-cash impairment charge in the quarter. The company's full release is here.
-- Jim Fuquay
Read more here: http://blogs.star-telegram.com/barnett_shale/2012/10/range-resources-third-quarter-production-up.html#storylink=cpy
