Range Resources (RRC) disclosed additional information on the company’s development of the Mississippian oil play in Oklahoma and Kansas.
Range Resources now has 125,000 net acres exposed to this play, up from the previous level of 105,000 net acres. The company is operating two rigs here and is securing pipeline, disposal and cryogenic processing capacity to handle anticipated production.
Range Resources estimates that once the company ramps up development in the Mississippian oil play, wells will cost $3.1 million to drill and complete. The company plans to use laterals of 2,200 feet and 12 hydraulic fracturing stages.
Range Resources reported that the first eight wells have an average estimated ultimate recovery of 485,000 barrels of oil equivalent (BOE) per well. This consists of 120,000 barrels of condensate, 204,000 barrels of natural gas liquids and one Bcf of natural gas.