By Dallas Business Journal

Independent oil and gas company Range Resources Corp. showed a 9 percent jump in production for the second quarter, exceeding its goals for the period. It was the 30th consecutive quarter of production growth, the company said Thursday.

The Fort Worth-based drilling company said its second-quarter production of 472 millions of cubic feet equivalent per day of oil and gas exceeded initial expectations of 450 to 455 millions of cubic feet equivalent per day. The increases were driven by higher productions rates in all of the companyâ¿¿s divisions. The Marcellus Shale division saw the largest increase in the outstanding drilling segment.

Range Resources spent $240 million on drilling during the period, and developed 87 new wells. Its drilling success rate hit 97 percent during the three-month period.

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Copyright 2010