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Range Resources Corp
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Enercom's Oil & Gas Conference 17
| Jeff Ventura | Page 45 of 11 |
November 21, 2024
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"Enercom's Oil & Gas Conference 17"
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W t . A v g. C om po s i t e B a rr e l (1 ) P r o p a n e C 3 I s o B u t a n e i C 4 N o r m a l B u t a n e n C 4 N a t u r a l G a s o l i n e C 5 + 56% 8% 19 % 17 % Realized Marcellus NGL Prices (2) WTI Oil Price Marcellus NGL Price NGL as % of WTI 1Q 2009 $43.20 $24.20 56% 2Q 2009 $59.77 $27.25 46% 3Q 2009 $68.18 $31.91 47% 4Q 2009 $76.12 $40.48 53% 1Q 2010 $78.81 $44.79 57% 2Q 2010 $77.72 $39.09 50% 3Q 2010 $76.18 $35.97 47% 4Q 2010 $85.24 $45.96 54% 1Q 2011 $94.65 $53.60 57% 2Q 2011 $102.34 $53.02 52% 3Q 2011 $89.54 $48.29 54% 4Q 2011 $94.56 $52.98 56% 1Q 2012 $103.13 $51.10 50% 2Q 2012 $92.27 $36.89 40% ? Since NGL composite barrel is over 50% propane, NGLs should follow propane seasonal prices during heating season. (1) Based on NGL volumes for April 2012 (2) Net of POP to MarkWest, compression and trucking fees Currently all ethane sold with the natural gas as additional Btus 2009 – 2011 NGL as % of WTI = 52% 45 Marcellus NGL Pricing