Range to spend $1B drilling mostly in southwestern Pa.
Monday, February 19, 2018
Range Resources Corp. Range Resources Corp. recently announced it plans to spend nearly $1 billion on natural gas drilling in 2018, mostly in the Marcellus shale in southwestern Pennsylvania, according to the Pittsburgh Business Times.
Range’s production budget is down from the $1.15 billion it expected and the $1.27 billion it actually spent in 2016. With $941 million set aside for production this year, Range expects to spend 80 percent of that in the Marcellus.
Range expects 25 percent growth in the Marcellus region as it will be able to move more natural gas out of the Appalachian basin by the end of 2018.
Learn more: Pittsburgh Business Times > Range to spend nearly $1B in drilling in ’18, mostly in southwestern Pa.
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