Shares of Range Resources (NYSE: RRC) spiked as much as 12.6% by 10:45 a.m. EDT on Wednesday. Fueling the energy company's rally was an update on how it planned to work around the temporary shutdown of Energy Transfer's (NYSE: ET) Mariner East pipeline system.
Range Resources provided investors with an update on how an outage of Energy Transfer's Mariner East pipeline will impact its operations. The midstream giant needs to shut that system down so that it can perform optimization work at its Marcus Hook export terminal. That will allow it to more efficiently transport natural gas liquids (NGLs) to end markets.
Image source: Getty Images.
Continue reading
Source: Motley Fool
(September 11, 2019 - 11:40 AM EDT)
News by QuoteMedia
www.quotemedia.com
