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Range Resources Corp
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December 2016 Corporate Presentation
| Jeff Ventura | Page 31 of 11 |
November 23, 2024
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"December 2016 Corporate Presentation "
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SW PA Wet Marcellus 2016 Well Economics • Southwestern PA – (Wet Gas case) • 225,000 Net Acres • EUR / 1,000 ft. – 2.95 Bcfe • EUR – 20.6 Bcfe (56 Mbbls condensate, 1,700 Mbbls NGLs & 10.1 Bcf gas) • Drill and Complete Capital – $5.8 MM ($832 K per 1,000 ft.) • Lateral Length – 6,970 ft. • F&D – $0.34/mcfe Estimated Cumulative Recovery for 2016 Production Forecast Condensate (Mbbls) Residue (Mmcf) NGL w/ Ethane (Mbbls) 1 Year 20 1,211 204 2 Years 30 2,014 339 3 Years 36 2,665 449 5 Years 44 3,694 622 10 Years 51 5,470 921 20 Years 55 7,654 1,289 EUR 56 10,100 1,700 NYMEX Gas Price Rate of Return Strip - 25% $3.00 - 25% • Includes current and expected differentials less gathering, transportation and processing costs • For flat pricing natural gas case, oil price assumed to be $40/bbl for 2016, $50/bbl for 2017 then $65/bbl to life with no escalation • NGL is average price including ethane with escalation • Ethane price tied to ethane contracts plus same comparable escalation • Strip dated 06/30/2016 with 10-year average $55.42/bbl and $3.29/mcf