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Range Resources
Range Resources is an independent oil and gas exploration and production company based in Fort Worth, Texas. Range is best known for its pioneering of the Devonian-aged Marcellus Shale in Pennsylvania, which is now the most productive natural gas field in the United States.〔http://finance.yahoo.com/news/marcellus-shale-becoming-top-us-162527250.html〕 Range has over $1 billion invested in southwestern Pennsylvania, while it also has operations in the Southwestern United States. Founded in 1976, the current president and chief executive officer is Jeffrey L. Ventura.〔http://www.rangeresources.com/company/senior-management〕
==History==
Range Resources traces its roots to Lomak Petroleum, which was based in Hartville, Ohio, in 1976, and drilled wells in eastern Ohio. In 1992, it moved its headquarters to Fort Worth and merged in 1998 with Domain Energy Corp. to become its present form. It also participated in a joint venture with FirstEnergy called ''Great Lakes Energy Partners LLC'' which it bought out in 2004 to form the subsidiary Range Resources Appalachia LLC.〔 Before its major expansion into the Marcellus Shale, Range Resources only held a small position in the Texas Barnett Shale and 9000 "worn-out gas wells across the Appalachian basin that had been producing for 25 years".
However, geologist William Zagorski, who worked for the company, used the knowledge of fracking gained working in the Barnett Shale (pioneered in the region by Mitchell Energy) to attempt fracking in Appalachia, where according Ventura, "it worked on the first try". The first test used a vertical drill, but Range Resources built three horizontal test wells in 2005 (in Mount Pleasant, Pennsylvania) and bought $200 million worth of land in 2007. The company had spent less than $1000 per acre on average to acquire land suitable for drilling, compared to larger traditional oil and gas players who joined the exploration rush late in the game who had "recent deals primed at $14,000 an acre". In 2010, ''Forbes'' called Range Resources "''King of the Marcellus Shale''" with an enterprise value of $8 billion, suggesting that its position should attract energy investors scared by offshore drilling's unlimited liabilities, as shown by the Deepwater Horizon oil spill. It suggested that after factoring Range's profitable use of land acquisitions, a true value could be closer to $20 billion.〔
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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