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 Range Resources
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Category: Exploration & Production
Company profile
Range Resources is an independent oil and gas company which operates in the Appalachian, Southwestern and Gulf Coast regions of the United States. The Company pursues a balanced growth strategy that targets exploitation of its sizeable inventory of lower risk development drilling locations with higher potential exploration projects and a complementary acquisition effort. Range seeks to manage risk in every aspect of its business while generating attractive returns.
The Company has a geographically diversified asset base. Proved reserves at December 31, 2004 totaled 1.18 Tcfe of natural gas equivalents. The reserves are 81% natural gas, 80% operated and have a reserve life index of 15 years. At year-end, the Company’s growing portfolio of exploration and drilling projects included nearly 5,300 proven development projects and 2.5 (2.1 net) million acres of leasehold. In 2004, 821% of production was replaced at an average cost of $1.20 per mcfe. Range’s common stock is listed on the New York Stock Exchange under the symbol “RRC.”
Services
Proved Reserves at YE 2004: 1.18 Tcfe (1)
Proved Reserves at YE 2003: 685 Bcfe
Daily Net Production in 2004: 196.0 Mmcfe
Daily Net Production in 2003: 159.0 Mmcfe
2004 Cap Ex - Actual: $186 million
(excluding acquisitions)
2005 Cap Ex - Budget: $261 million
(excluding acquisitions)
Percent Gas: 80%
Range Resources is an independent oil and gas company with operations in Southwestern, Appalachian and Gulf Coast regions. The Company is pursuing a growth strategy that balances the exploitation of its sizable inventory of lower risk development drilling locations with higher potential exploration projects and a complementary acquisition effort.
(1) Based on 2004 year-end reserves with proforma for June 2005 Permian Basin Acquisition.
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