Range Resources plans to spend 90 percent of the $756 million it has set aside for capital spending in 2019 in the Appalachian Basin, according to Kallanish Energy.
More than 60 percent of the company’s planned activity in the Appalachian Basin is directed towards liquids-rich drilling. It plans to bring 88 Marcellus Shale wells online this year, with half of those to be drilled on existing pads.
Range’s capital budget is about $154 million less than last year due to the company’s changing profit margins — a net loss of $1.75 billion in 2018, compared to a net gain of $333 million in 2017.
Learn more: Kallanish Energy > Range Resources to trim capital spending by $154M
This post appeared first on Shale Gas Reporter.