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Range Resources Management Discusses Q2 2012 Results - Earnings Call Transcript

Also during the second quarter, we drilled our first horizontal Mississippian well in excess of 1,000 barrels of oil equivalent per day. Its peak 24 hour rate was 1,363 barrels of oil equivalent per day. The liquids portion of this rate was 1,122 barrels per day comprised of 782 barrels of oil per day and 340 barrels of natural gas liquids per day.

We're also making good progress in the super-rich and wet areas in the Southwest portion of the Marcellus along with the dry gas portion of Northeast Pennsylvania. In particular, we just recently completed a new well in the super-rich area that flowed at a rate of 5.7 million cubic feet of gas per day and 1,000 barrels of liquids per day, of which 55% is condensate. Ray will discuss these areas in more detail and he'll also update you on our first 2 Upper Devonian wells in the superrich area in Southwest Pennsylvania.

In addition, we're currently drilling our first Utica well in Northwest Pennsylvania and started drilling our next series of Cline Shale and Wolfberry wells in West Texas.

Read the rest of this transcript for free on seekingalpha.com

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