Monday, September 8, 2008

Marcellus Shale: RRC Range Resources Pipeline ahead of Schedule 9/08/08

The Fort Worth Business Press is reporting that the Range Resources ( RRC ) Marcellus Shale pipeline is ahead of schedule.

Range Resources Corp. said the first phase of its Marcellus Shale pipeline and processing build out was ahead of schedule, allowing its previously stated goal of 30 million cubic feet equivalent of daily production to be reached a full quarter earlier.

The Fort Worth-based energy company currently holds about 850,000 acres in Marcellus Shale leasing, and has three rigs operating in the shale, which stretches from New York though Pennsylvania and into West Virginia. Year-end production is projected to reach 30 MMcfe/d, a full quarter earlier than the company’s previously stated goal of first quarter 2009, according to the statement.