SEC Filings

10-Q
RANGE RESOURCES CORP filed this Form 10-Q on 10/23/2018
Entire Document
 

Our production continues to grow through drilling success and additional NGLs extraction, which is partially offset by the natural production decline of our wells and non-core asset sales. Third quarter 2018 production volumes from the Marcellus Shale were 2.0 Bcfe per day, an increase of 25% when compared to the same period of 2017. Third quarter 2018 production volumes from our North Louisiana properties were approximately 278.0 Mmcfe per day. When compared to the same period of 2017, our North Louisiana production volumes declined 23%.

Production volumes from the Marcellus Shale in first nine months 2018 were 1.9 Bcfe per day. When compared to the same period of 2017, our Marcellus production volumes increased 24% for first nine months 2018. In first nine months 2018, production volumes from our North Louisiana properties were approximately 318.9 Mmcfe per day. When compared to the same period of 2017, our North Louisiana production volumes decreased 18%. Our production for the three months and nine months ended September 30, 2018 and 2017 is set forth in the following table:

 

Three Months Ended

September 30,

 

 

Nine Months Ended

September 30,

 

 

2018

 

 

2017

 

 

Change

 

 

%

 

 

2018

 

2017

 

Change

 

%

 

Production (a)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Natural gas (mcf)

 

140,757,676

 

 

 

121,644,949

 

 

 

19,112,727

 

 

16

%

 

 

411,769,576

 

 

357,389,113

 

 

54,380,463

 

15

%

NGLs (bbls)

 

10,255,159

 

 

 

8,892,778

 

 

 

1,362,381

 

 

15

%

 

 

29,009,100

 

 

25,953,773

 

 

3,055,327

 

12

%

Crude oil (bbls)

 

1,040,891

 

 

 

1,288,303

 

 

 

(247,412

)

 

(19

%)

 

 

3,314,704

 

 

3,406,373

 

 

(91,669

)

(3

%)

Total (mcfe) (b)

 

208,533,976

 

 

 

182,731,435

 

 

 

25,802,541

 

 

14

%

 

 

605,712,400

 

 

533,549,989

 

 

72,162,411

 

14

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average daily production (a)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Natural gas (mcf)

 

1,529,975

 

 

 

1,322,228

 

 

 

207,747

 

 

16

%

 

 

1,508,313

 

 

1,309,118

 

 

199,195

 

15

%

NGLs (bbls)

 

111,469

 

 

 

96,661

 

 

 

14,808

 

 

15

%

 

 

106,260

 

 

95,069

 

 

11,191

 

12

%

Crude oil (bbls)

 

11,314

 

 

 

14,003

 

 

 

(2,689

)

 

(19

%)

 

 

12,142

 

 

12,478

 

 

(336

)

(3

%)

Total (mcfe) (b)

 

2,266,674

 

 

 

1,986,211

 

 

 

280,463

 

 

14

%

 

 

2,218,727

 

 

1,954,396

 

 

264,331

 

14

%

(a) 

Represents volumes sold regardless of when produced.

(b) 

Oil and NGLs are converted to mcfe at the rate of one barrel equals six mcf based upon the approximate relative energy content of oil to natural gas, which is not indicative of the relationship between oil and natural gas prices.

 

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