Updated Decline Curve Information –Based on its production results to date, Range has updated its decline curves for the play. The updated production results reaffirm Range’s estimated 600 Mboe estimated ultimate recovery (“EUR”) per well for its 2012 program wells with greater than 3,500 foot laterals. Range has posted updated zero-time plots of actual production to date on its website which support the decline curves and reserve estimates. To provide more detailed information, Range has included decline curves for each product component – oil, NGLs and natural gas. Given the characteristics of a depletion drive reservoir, initial oil production rates are expected to approach 50% of production but are expected to decline faster over time than the associated natural gas and NGL production. Therefore, the decline curves are anticipated to be different for each product component which is consistent with historical results. For its acreage position, Range projects that the EUR per well will approximate one-third oil, one-third NGLs, and one-third natural gas.
Range Accelerates Drilling Program In Horizontal Mississippian Play
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.