With this strategy we have established an excellent track record of growth. More importantly, we now have the best inventory of projects in our Company’s history. With ~1 million net acres in the Marcellus Shale Play, as well as a number of other low-cost, low-risk targets, we have the potential to grow our proven reserve base by 7 to 10 times.
The oil and gas producer, which has a large operation in the Marcellus Shale in the Northeast, also agreed to sell properties in West Texas and New Mexico for $275 million. That transaction is expected to close in April.For the year, Range earned $13 million on $1.46 billion in revenue. The results included $55.5 million in impairments taken during the quarter and more than $160 million in impairments for the year.
FORT WORTH, Texas--(BUSINESS WIRE)--Apr. 11, 2013-- RANGE RESOURCES CORPORATION (NYSE: RRC) today announced that its first quarter 2013 production volumes reached a record high of 876 Mmcfe per day, a 34% increase over the prior-year quarter.
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