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Range Resources AI simulator
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Range Resources AI simulator
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Range Resources
Range Resources Corporation is a natural gas exploration and production company, the headquartered is in Fort Worth, Texas. It operates in the Marcellus Formation, where it is the largest land owners.
As of December 31, 2024, the company had 18.131 trillion cubic feet of natural gas equivalent of estimated proved reserves, which 64% was natural gas, 35% was natural gas liquids, and 1% was petroleum.
In 1976, the company was founded as Lomak Petroleum, based in Hartville, Ohio. The company drilled wells in eastern Ohio.
In 1992, the company moved its headquarters to Fort Worth, Texas.
In 1997, the company acquired American Cometra for $385 million, which owned properties in the Permian Basin. It also acquired assets from Cabot Oil & Gas for $92.5 million.
In 1998, the company acquired Domain Energy for $214 million. The company also changed its name to Range Resources Corporation.
In 1999, the company formed a 50-50 joint venture with FirstEnergy called Great Lakes Energy Partners LLC to own properties in the Appalachian Basin. In 2004, the company bought the 50% interest in the venture that it did not own for $290 million, including the assumption of debt.
Before its major expansion into the Marcellus Shale, the company only held a small position in the Texas Barnett Shale and 9,000 "worn-out gas wells across the Appalachian basin that had been producing for 25 years". However, geologist William Zagorski, who worked for the company, used the knowledge of hydraulic fracturing gained working in the Barnett Shale (pioneered in the region by Mitchell Energy & Development) to attempt hydraulic fracturing in Appalachia, where according to CEO Jeffrey Ventura, "it worked on the first try".
Range Resources
Range Resources Corporation is a natural gas exploration and production company, the headquartered is in Fort Worth, Texas. It operates in the Marcellus Formation, where it is the largest land owners.
As of December 31, 2024, the company had 18.131 trillion cubic feet of natural gas equivalent of estimated proved reserves, which 64% was natural gas, 35% was natural gas liquids, and 1% was petroleum.
In 1976, the company was founded as Lomak Petroleum, based in Hartville, Ohio. The company drilled wells in eastern Ohio.
In 1992, the company moved its headquarters to Fort Worth, Texas.
In 1997, the company acquired American Cometra for $385 million, which owned properties in the Permian Basin. It also acquired assets from Cabot Oil & Gas for $92.5 million.
In 1998, the company acquired Domain Energy for $214 million. The company also changed its name to Range Resources Corporation.
In 1999, the company formed a 50-50 joint venture with FirstEnergy called Great Lakes Energy Partners LLC to own properties in the Appalachian Basin. In 2004, the company bought the 50% interest in the venture that it did not own for $290 million, including the assumption of debt.
Before its major expansion into the Marcellus Shale, the company only held a small position in the Texas Barnett Shale and 9,000 "worn-out gas wells across the Appalachian basin that had been producing for 25 years". However, geologist William Zagorski, who worked for the company, used the knowledge of hydraulic fracturing gained working in the Barnett Shale (pioneered in the region by Mitchell Energy & Development) to attempt hydraulic fracturing in Appalachia, where according to CEO Jeffrey Ventura, "it worked on the first try".