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 1.1 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 9 to 12 times.
Forbes Insights "2012 U.S. Energy Sector Outlook," surveyed 107 executives at middle market energy companies to assess their views on the industry and outlook for their companies, energy prices and trends in the coming years. Energy industry executives see the potential for great strides toward American energy independence in the coming years, with nearly half citing natural gas as the most critical fuel.
FORT WORTH, Texas, Apr 12, 2012 (BUSINESS WIRE) --RANGE RESOURCES CORPORATION (NYSE: RRC) today announced first quarter 2012 production results, preliminary realized prices and an update on the Pennsylvania impact fee. First quarter production volumes averaged 655.5 Mmcfe net per day, a 20% increase over the prior-year quarter. Adjusting for the Barnett production sold in April 2011, the production increase would have been 50%. The record production was driven by the continued success of the Company's drilling program. Production was 78% natural gas, 16% natural gas liquids (NGLs) and 6% crude oil. Year-over-year oil production increased 36%, NGL production rose 20%, while natural gas production increased 19%.
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