Range Resources (RRC) Announces 26% Increase in Proved Reserves
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Range Announces 26% Increase in Proved Reserves
January 24, 2018 4:30 PM ESTFORT WORTH, Texas, Jan. 24, 2018 (GLOBE NEWSWIRE) -- RANGE RESOURCES CORPORATION (NYSE: RRC) announced today that proved reserves at December 31, 2017 increased by 26% from the prior-year to 15.3 Tcfe.  Â
Highlights  Â
SEC PV10 reserve value increased by 119% to $8.1 billionProved reserves increased by 3.2 Tcfe, or 26%Reserve extensions, discoveries and additions were a record 3.5 TcfeProved developed reserves increased 1.6 Tcfe, or 23%Drill-bit finding cost of $0.31 per mcfeFuture development costs for proved undeveloped reserves are estimated to be $0.38 per mcfe Unhedged recycle ratio over 3x based on... More