Fort Worth-based Range Resources, one of the largest operators in the Marcellus Shale, said its third-quarter production rose 21 percent from a year ago to the equivalent of 960 million cubic feet of natural gas a day, slightly above its previous guidance. Output is 77 percent gas, 16 percent natural gas liquids and 7 percent crude oil and condensate. It received an average price of $4.80 per 1,000 cubic feet of gas equivalent, including hedges, down 2 percent from a year ago. CEO Jeff Ventura said in a prepared release that Range expects "to achieve the high end of our production growth target of 20 percent to 25 percent for 2013" and that rate should continue "for many years" thanks to its Marcellus holdings. The company said it expects to file its third-quarter financial results by the end of the month.
-- Jim Fuquay