Wednesday, November 9, 2011

Range Resources (RRC) - Utica Shale

November 9, 2011 - Range Resources (RRC) recently gave some comments about It's Utica Shale . The Utica Shale has been one of the top shale plays in North America lately as Oil & Gas companies scramble to acquire mineral rights in Ohio and Pennsylvania.

"In the Utica Shale, we'll spud our next well in the second quarter of 2012. Industry has drilled and will be drilling several Utica wells. Results of some of these wells will help us to delineate Range's acreage. A lot of our acreage is perspective for both the Upper Devonian and Utica shale. We hold all depth rights on our fairway acreage, so as we focus on driving up reserves and production in the low-risk highly economic Marcellus play, we'll hold the Upper Devonian and Utica potential both above and below the Marcellus. As we better understand the other 2 horizons with time, we'll then determine the optimum plan for each horizon."