Saturday, October 30, 2010

Range Resources Corp. (RRC) : Huron Shale Update

By Andrea:

Recently, Range Resources Corp. (RRC) released an update on the Huron Shale, located in the Nora field in Virginia:

During the third quarter 2010, Range's Appalachian Division drilled a total of 61 (29 net) wells, continuing its successful development of tight gas sand, coal bed methane and horizontal drilling projects in the Nora field in Virginia. The division averaged five rigs running during the quarter and drilled 14 (7 net) vertical tight gas sand wells, 43 (20 net) coalbed methane wells and 4 (2 net) tight gas sand horizontal wells. On the recently acquired Nora extension property, the division has performed three well recompletions and implemented two pipeline and compression optimization projects that, in total, resulted in a 1,000 mcf per day (10%) increase in production. By year end, the Appalachian Division plans to drill five new tight gas sand wells and recomplete 12 existing wells on the extension properties.

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