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A&D - Range sells ORRI to Franco-Nevada and Lime Rock - August 2019
Range Resources sold a 2% overriding royalty interest in 350,000 net acres with 1.9 Bcfe/d of Q1 production in southwest Pennsylvania, or 7,000 net royalty acres with 38 MMcfe/d of royalty production, for $600 million. The ORRI covers the vast majority of Range’s producing properties in Appalachia, representing 94% of its 2.03 Bcfe/d Q1 output from the basin. Canadian gold royalty owner Franco-Nevada Corp. paid $300 million for a 1% ORRI. A pair of Lime Rock Partners portfolio companies jointly acquired the......
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