Range Resources selling Permian Basin assets
http://seekingalpha.com/currents/post/1444161?source=email_rt_mc_re...
Analysts say RRC doesn’t have the money to develop both its Permian holdings and leases in areas like the gas-heavy Marcellus Shale in Pennsylvania, where RRC's properties produce "wet gas" that includes large quantities of valuable liquids used in the chemicals business and thus may have a higher rate of return than the Permian holdings.
RRC stock is at 10 year high so why not issue more shares if it's just cash shortage. I hope a deal closes soon. Than I expect some big news for the Appalachian Basin.
Views: 1202
Replies to This Discussion
-
Permalink Reply by Tim Tarr on
-
Thought I'd add a few details
Most of this land is already HBP'ed.
Some current estimated valuations are:
Wells that are in production are worth ~$200MM
Undeveloped land ~$300-350MM
I'll bet they don't sell for less than $1.25B
Even at that $0.5B that will fund over 150 new Marcellus wells. With a payback in 18 months or less.
I suspect this is for something other than just Marcellus drilling. Once this deal closes I expect some BIG news.
-
-
Permalink Reply by Velva Mooney on
-
Do you know if the Hercules wells are producing in Washington County?
-
Top Content
Latest Activity
© 2024 Created by Keith Mauck (Site Publisher).
Powered by
