Range Resources Sees Production Increase of 47 Percent

Range Resources Corp. (NYSE:RRC) announced its results for the third quarter of 2012, commenting that its production increased by 47 percent compared to the same quarter of 2011. The company produced 623.3 Mmcf per day of natural gas and 20,040 barrels per day of natural gas liquids.

As quoted in the press release:

The record production was driven by the continued success of the Company’s drilling program in the Marcellus and horizontal Mississippian oil plays. Production was 79% natural gas, 15% natural gas liquids (NGLs) and 6% crude oil. Year-over-year oil production increased 36%, NGL production rose 30%, while natural gas production increased 52%.

Preliminary third quarter realized prices for each commodity were: natural gas – $3.88 per mcf, natural gas liquids – $38.79 per barrel and crude oil – $84.86. NYMEX Henry Hub index natural gas price averaged $2.81 per mcf during the quarter and WTI crude oil index price averaged $92.58 per barrel.

Click here to read the full Range Resources Corp. (NYSE:RRC) press release.