Degner tapped to take over Range Resources as CEO
Thursday, March 23, 2023
Last week Range Resources Corporation announced its CEO Jeff Ventura plans to retire and Dennis Degner will take his place, according to Yahoo Finance.
Ventura’s retirement takes effect June 2, 2023, and he will not seek reelection to the Board.
Range’s Board of Directors has chosen Degner to replace Ventura as President and Chief Executive Officer effective as of the company’s shareholder meeting May 10, 2023. Degner previously served as Range’s Executive Vice President and Chief Operating Officer.
Learn more: Yahoo Finance > Range Announces CEO Retirement and Succession Plan
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Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.