Press Conference: John H. Pinkerton, Chairman and CEO, Range Resources Corporation

Press Conference: John H. Pinkerton, Chairman and CEO, Range Resources CorporationRange Resources expects to nearly triple its gas production in the Marcellus shale in 2009, now that the infrastructure has been enhanced. Here, the CEO shares lessons learned from the company's Barnett shale success, and thoughts about shale opportunities in the Appalachian Basin.

Introduction by Leslie Haines, Editor-in-Chief, Oil and Gas Investor

  • "This (Marcellus) is a huge sandbox, with some characteristics of the Barnett, but with 65 million acres in this play, it is much larger than the (3-million-acre) Barnett," says John Pinkerton, chairman and chief executive of Range Resources Corp.
  • The Marcellus/Devonian play could hold up to 516 Tcf of gas.
  • Range's F&D costs are about $1.16/Mcf. Its lease costs are $50-$100/acre. A Nymex price of $4/Mcf brings Range an estimated 34% rate of return; $5, 46%; $6, 60%; and $7, 75%.
  • "We have less than a handful of obligation wells, so we can take our time," he adds.


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    Total Length: 01:00:28


    Included: Videos, Slides, Conference and Synopses

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