Range Resources Expects 2016 Production At High-end Of Previous Guidance

(RTTNews) - Range Resources Corp. (RRC) announced, production for the entire 2016 year remains at the high-end of previous guidance to average 1,410 to 1,420 Mmcfe per day after all announced asset sales. Production for the third quarter of 2016 is expected to be approximately 1,430 Mmcfe per day with 32% to 35% liquids.

Second quarter company production averaged 1,421 net Mmcfe per day, up 4% from the prior-year quarter, with Marcellus production averaging a record 1,379 net Mmcfe per day, up 16% from the prior-year quarter. Second quarter 2016 natural gas, NGLs and oil price realizations averaged $2.50 per mcfe, a 19% decrease from the prior-year quarter.

The company said its proposed merger with Memorial is on track, with closing estimated to occur late in the third quarter.