Range Provides Mariner East Operational Update
Range expects improved NGL and natural gas differentials and modestly higher natural gas production as a result of selling more ethane in the natural gas stream, which combined will mostly offset lower reported NGL production and result in a minimal impact to cash flow. Range is updating production guidance for third quarter 2019 to reflect the increased ethane rejection, which results in expected production of approximately 2.22 to 2.23 Bcfe per day, on a reported basis, versus original guidance of 2.25 to 2.26 Bcfe per day.
Mariner East 1 is expected to return to service in early October. The
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All statements, except for statements of historical fact, made within regarding activities, events or developments the Company expects, believes or anticipates will or may occur in the future, such as those regarding future well costs, well productivity, future liquidity and financial resilience, future capital efficiencies, future shareholder value, capital spending, anticipated drilling and completion activity, and future guidance information are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on assumptions and estimates that management believes are reasonable based on currently available information; however, management's assumptions and Range's future performance are subject to a wide range of business risks and uncertainties and there is no assurance that these goals and projections can or will be met. Any number of factors could cause actual results to differ materially from those in the forward-looking statements. Further information on risks and uncertainties is available in Range's filings with the
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Source: Range Resources Corporation