Range Resources reports “extraordinary” natural gas production:
Buoyed by strong results in Pennsylvania’s Marcellus Shale drilling boom, Range Resources Corp. reported record natural gas production in the second quarter that ended June 30. It was the Fort Worth-based company’s 30th consecutive quarter of such growth. Production averaged the equivalent of 472 million cubic feet of natural gas per day, up 9 percent from the corresponding period in 2009, despite a sale of producing properties in Ohio this year. “Our plan indicated that it would be mid-third quarter before we would be able to overcome the loss of production from the Ohio property sale,” Range CEO John Pinkerton said in an announcement Thursday. But “extraordinary performance” by Range’s operating team more than made up for the sale.