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Range provides 3Q production update

Range Resources Corp. reported third quarter production volumes of 437 million cubic feet per day on average, a 13 percent increase over the same quarter in 2008 and the company’s 27th consecutive quarter of sequential production growth.

The Fort Worth-based natural gas exploration and production company, which of late has been increasing its activity in the Marcellus Shale of the northeastern United States, drilled 128 wells during the quarter and is operating with 15 rigs, according to an October 14 operations update. Marcellus Shale production currently exceeds 80 MMcfe with a target of about 100 MMcfe, with 77 wells having been drilled to date and 54 in production. Another 20 horizontal wells are expected during the fourth quarter.

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