Range Resources Marcellus Shale Exceeds Target

Range Resources Corporation’s net production from the Marcellus Shale has exceeded its 2010 exit rate target of 200Mmcfe to 210Mmcfe a day.

The firm said that production had averaged 212Mmcfe a day during the last two weeks.

With the new production rate, Range has more than doubled its Marcellus Shale production from 100Mmcfe a day net at the beginning of the year.

Range Resources chairman and CEO John Pinkerton said Marcellus Shale provides a low-cost, domestic source of clean-burning natural gas for customers.

Production from the firm’s north-eastern Pennsylvania acreage is also expected to begin by the end of January 2011, following the completion of first phase of the north-east pipeline and compression facilities.