Range Resources: Second-Quarter Production Reached Record High

Southpointe-based Marcellus Shale drilling company Range Resources earlier this month announced that its second quarter 2013 production volumes reached a record high—and represented a 27 percent increase over the prior year quarter.

The record production was primarily driven by the continued success of the company’s drilling in the Marcellus Shale. 

“Second quarter production results were outstanding and reflect the continuing efforts of our operating and marketing teams. The success of our drilling program over the first half of the year puts us on track to achieve the high-end of our production growth target of 20 percent to 25 percent for 2013," Commenting on the announcement, Range Resources President and Chief Executive Officer Jeff Ventura said in a statement. "More importantly, our sizable position in the Marcellus Shale gives us confidence that we can deliver similar line-of-sight growth of 20 percent to 25 percent for many years. We believe this strong growth, coupled with high returns, low cost and low reinvestment risk will allow Range to drive substantial growth per share for our shareholders for years to come.”

To read more specific data released by the company, click here.