Is Range resources continuing to be active in Clinton Co? Any idea about the next few years? Are they still actively leasing and are the retaining leases?

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Short answer, yes they are planning on being active in 2011 despite the low NG prices. Many of the energy companies are still drilling to fulfill their leaseholds before they expire. While there is some leasing activity going on, most is centered around completing units at this point.

According to their press releases, they anticipate exiting 2011 with total daily output of 400-420 million cubic feet equivalent, an increase of 25% over 2010. This of course translates into new drilling to not only reach the 25% growth but to continue the production from the decline of current wells online. Despite the low prices, Range is in a good position as they have nearly 85% of their production hedged at a low of $5.56. not bad as their break even is much lower than that. They are planning on selling off their Barnett assets, so look for opening a local office and/or large regional headquarters hopefully.

Thanks for your help. I assume you don't see them cancelling any Clinton Co. Leases


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