Range makes savings gain on back of fieldwork efficiencies

摘要

US INDEPENDENT Range Resources spent less than expected during the first quarter of the year, with savings coming from efficiencies in drilling and completions work and water recycling, writes Caroline Evans. The company, which is focused on the Marcellus shale play in south-west Pennsylvania, had expected to spend about 35% of its $756 million capital budget in the first quarter, but spent about $226 million, or around $30 million less than market expectations.