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Tag Archives: jeff ventura

Range Resources looking to sell assets as low gas prices remain a drag

Range Resources Corp. expects to sell some assets outside the Marcellus shale as it battles low natural gas prices that pummeled its revenue. “We are continuing to work on potential noncore asset sales for areas in our portfolio that cannot compete against the Marcellus for capital,” CEO Jeff Ventura said Wednesday in announcing third-quarter financial results. The Fort Worth-based company ...

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Range Resources losses mount on low commodity prices

Struggling with lower prices for oil and natural gas, Range Resources lost $301 million in the third quarter despite aggressively cutting its operational costs and the number of drilling rigs in the field. The Fort Worth-based energy company reported late Wednesday that it lost $1.81 per diluted share compared to a $146 million profit, or 86 cents a diluted share, ...

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Range Resources reports second-quarter loss

Range Resources lost $119 million in the second quarter despite cutting back on the number of rigs deployed and the amount of money spent to drill each well. The Fort Worth-based energy company lost 71 cents per diluted share versus earnings of $171 million, or $1.04 per diluted share, in the second quarter of 2014. The results were released Tuesday ...

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Drillers share keys to boosting efficiency at DUG East conference in Pittsburgh

Building more pipelines out of the Marcellus shale won’t bring enough relief to natural gas companies struggling with low prices, an analyst told industry leaders gathered in Pittsburgh on Wednesday. Demand from power plants and other big customers won’t keep pace with all the new supply coming out of the region over the next few years until exports of liquefied ...

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Range Resources sets new record in the Utica

Range Resources Corp. announced yesterday that it believes a record has been set for horizontal drilling in the Appalachian Basin with its Utica exploration well after seeing a higher initial production rate than any other Utica well. The well, dubbed the Claysville Sportsman’s Club No. 1, is located in Washington County, Pennsylvania. It achieved an initial test rate of 59 ...

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Natural gas glut in Appalachia keeps pushing prices downward

Lower gas prices and a production glut in Appalachia aren’t deterring the biggest drillers in the Marcellus shale. Companies continue to report surging production in their quarterly statements, and several are forecasting growth into next year. Production is growing because drillers are finding more efficient ways to extract gas from shale formations. But in Appalachia, which accounts for the lion’s ...

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