Range Resources (RRC) reported earnings for the first quarter of 2010, and provided an update on its operations in the Barnett Shale in Texas.
The company reduced its rig count in the Barnett Shale to 1-2 rigs currently operating compared to as many as 8 last year at this time. Range Resources completed 5 wells in the Barnett Shale during the quarter.
Range Resources reported the completion of a well in Hood County that produced at an initial production rate of 4.6 million gross cubic feet equivalent per day.
Range Resources reported the completion of a well in Parker County that produced at an initial production rate of 6.0 million gross cubic feet equivalent per day.
Range Resources reported the completion of 3 wells on the Tarrant and Dallas County border that produced at combined initial production rate of 12.0 million gross cubic feet equivalent per day.