Range to Sell Barnett Assets to Focus Efforts on Marcellus Play

摘要

Range Resources plans to sell off its holdings in the Barnett Shale play and use the proceeds to help fund growth in the emerging Marcellus Shale in the US Northeast and close an expected budget shortfall next year. The sale comes as Range turns it focus away from the predominantly dry-gas play towards liquids-rich areas in the Marcellus Shale and, to a lesser extent, liquids-rich areas in the Permian Basin and Midcontinent. "Our confidence in the quality and size of these plays was one of the key reasons we have decided to market our Barnett Shale properties," Chief Executive John Pinkerton said in a release.