Range Resources Hits a Super Well

Range Resources (driller) just hit a super well.  A Marcellus super-rich well tested at 24-hour rate of 6,357 boe per day, or 38.1 Mmcfe per day (65% liquids), with a 7,065 foot lateral and 36 frac stages. This is the highest rate Marcellus well in the southwest portion of the play drilled to date by any operator. At $100 per barrel of oil that s $635,700 per day coming out of the ground and per year (x365) = $232,000,000 gross revenue on a cost of about $10 million for the drilling and fracking effort. This lateral is much longer than their typical well. They seem to be experimenting with newer frac spacing, both in the lateral and between each. While its true there are no gushers in the gas industry, this yield shows what might be possible into the future with more clever drilling, spacing and fracking stages and technologies. There are likely to be hundreds of new improvements in the fracking process alone in the coming years. Joseph BaronePresidentShaleDirectories.com 610.764.123
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