Post Tagged with: "North Louisiana"

Range Sells Appalachian Assets for $634 Million

Range Sells Appalachian Assets for $634 Million

By Tyler Losier, Energy Reporter, Oil & Gas 360 Range sells royalties in 350,000 net surface acres for $600 million, 20,000 non-producing acres for $34 million Range Resources Corporation (stock ticker: RRC), a Fort Worth-based independent E&P, has agreed to sell a 2% proportionately reduced overriding royalty interest in 350,000 net surface acres of its southwest Appalachian Basin assets. The deal, which is comprised of two separate transactions with an unnamed buyer, is expected to provide Range with total gross proceeds of $600 million. In June, Range closed the sale of 20,000 non-producing acres in Pennsylvania’s northwestern Armstrong country as well, also to an unnamed buyer, for a purchase price of $34 million. … Login or click here to subscribe Username or E-mail Password Remember Me     Forgot Password

Range Appoints Director

Range Appoints Director

November 01, 2018 16:40 ET | Source: Range Resources Corporation FORT WORTH, Texas, Nov. 01, 2018 (GLOBE NEWSWIRE) — RANGE RESOURCES CORPORATION (NYSE: RRC) announced today that Steve Gray has been appointed to the Company’s Board of Directors. Mr. Gray’s appointment is effective October 30, and was mutually agreed upon by the Company’s Board of Directors and SailingStone Capital Partners, LLC. Mr. Gray will serve on the Board’s compensation committee. Previously, Mr. Gray served as a founder, director and Chief Executive Officer of RSP Permian Inc. from their inception in 2010 to 2018. When RSP Permian merged with Concho Resources Inc., he joined Concho’s Board of Directors and currently serves on the Reserves Committee. Prior to forming RSP Permian, Mr. Gray founded several successful oil and gas ventures spanning nearly 20 years in partnerships with Natural Gas Partners, an Irving, Texas based private equity company.  Prior to going into business for himself, Mr. Gray spent 11 years[Read More…]

November 2, 2018 - 12:26 pm Closing Bell Story, Corporate Governance
Closed and Closed: WildHorse, WPX Divest Assets

Closed and Closed: WildHorse, WPX Divest Assets

WPX Energy (ticker: WPX) has closed the San Juan Basin oil play sale to Enduring Resources IV, LLC for $700 million. A significant portion of the proceeds are slated for debt reduction, WPX said, and the company now believes it can reduce its net debt/EBITDAX to a target level of 1.5x during 2019. The transaction completes WPX’s exit from operations in the San Juan Basin. WPX said it has confidence in its two remaining core positions in the Delaware (Permian) and Williston basins. “Our path forward is clear and compelling. It’s about consistent execution, sticking with our multi-year plan and continuing to create value by looking ahead,” said Rick Muncrief, WPX chairman and CEO. WPX’s production is now approximately 80% liquids (oil and NGL) and 20% natural gas. Five years ago, it was the opposite, at 80% gas and 20% liquids – WPX said it has transformed its portfolio through[Read More…]

Goodrich Petroleum Closes Sale, Reports Q4

Goodrich Petroleum Closes Sale, Reports Q4

In its Q4/year-end release, Goodrich Petroleum Corporation (ticker: GDP) said it has recently closed on the sale of certain production, facilities, infrastructure and a portion of its acreage in the Angelina River Trend to BP America Production Company. Goodrich said it will use a portion of the proceeds from the sale to pay off its revolver, with plans to accelerate development of its North Louisiana Haynesville asset in the second half of 2018. Slide three of the March 2018 presentation shows that the asset(s) were to be sold for $23 million. Brief Haynesville update The Wurtsbaugh 25&24-14N-16W 2H (55% WI) well in DeSoto Parish, Louisiana has recorded a 24-hour peak rate to date of approximately 25,000 Mcfe/d from a producing lateral length of 7,249 feet The Wurtsbaugh 25&24-14N-16W 3H (55% WI) well in DeSoto Parish, Louisiana has recorded a 24-hour peak rate to date of approximately 30,000 Mcfe/d from a[Read More…]

Range Resources Earns $333 Million in 2017, Plans $941 Million CapEx

Range Resources Earns $333 Million in 2017, Plans $941 Million CapEx

Range Resources Corporation (ticker: RRC) produced 1,444 MMcf/d of natural gas, 106,038 Bbls/d of NGLs and 15,007 BPD of crude oil and condensate in Q4 2017. Also in Q4 2017, the company had a net income of $221.185 million, or $0.89 per share. This compares to a net loss of $160.709 million, or $(0.66) per share in Q4 2016. For the full year of 2017, Range produced 1,343 MMcf/d of natural gas, 97,834 Bbls/d of NGLs and 13,115 BPD of crude oil and condensate. In 2017, Range had a net income of $333.146 million, or $1.34 per share. This compares to a net loss of $521.388 million, or $(2.75) per share for the full year of 2016. Appalachia Production for the fourth quarter of 2017 averaged approximately 1,799 net MMcfe/d from the Appalachia division, a 27% increase over the prior year. Included in this amount was over 100,000 BPD of[Read More…]

Exclusive Video Interview with Range Resources Chairman, President & CEO Jeff Ventura

Exclusive Video Interview with Range Resources Chairman, President & CEO Jeff Ventura

Range Resources: generating average recoveries in the Marcellus between 2.5 – 3 Bcf per 1000 feet of lateral At its recent 2017 The Oil & Gas Conference®, EnerCom’s Oil & Gas 360® conducted an exclusive video interview with Marcellus producer Range Resources (ticker: RRC) Chairman, President & CEO Jeff Ventura. Credited with discovering and launching the Marcellus shale play, Range operates primarily in two large core areas: the Marcellus Shale in Pennsylvania and the Lower Cotton Valley in Northern Louisiana. Range develops its acreage in both the Marcellus Shale and North Louisiana with an eye toward improving well results through the use of technology and detailed analysis of its properties. Range has nearly one million net acres across Pennsylvania, most of which has stacked pay potential for the Marcellus, Utica and Upper Devonian shale formations. It also has approximately 220,000 net acres in Northern Louisiana, which has stacked pay potential[Read More…]