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Stock Market & Financial Investment News

News Breaks
March 30, 2012
14:06 EDTRRCEPA drops action against Range Resources, WSJ reports
The Environmental Protection Agency will not pursue an administrative action against Range Resources (RRC) over water pollution allegations, reported The Wall Street Journal. Range and the EPA also agreed to drop lawsuits against each other, the report said. Reference Link
News For RRC From The Last 14 Days
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January 20, 2015
08:43 EDTRRCRange Resources downgraded to Neutral from Buy at SunTrust
SunTrust downgraded Range Resources to Neutral to reflect a lower commodity price deck forecast and impact from lower spending. Price target lowered to $55 from $85.
07:30 EDTRRCRange Resources upgraded to Buy from Accumulate at KLR Group
Price target $73.
January 16, 2015
13:29 EDTRRCRange Resources sees 2014 total production growth approximately 24%
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13:27 EDTRRCRange Resources lowers FY15 CapEx to $870M from $1.3B
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January 15, 2015
16:24 EDTRRCRange Resources announces ethane sales contract
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16:24 EDTRRCRange Resources announces early commissioning of Mariner East pipeline
Range confirmed the Mariner East propane pipeline was commissioned earlier than expected during the last few weeks of December. While full capacity operation has not commenced, the propane line fill has been completed and propane is being delivered to storage caverns for further sale. Range has delivered its share of approximately 133,000 barrels of propane line fill into the pipeline while the operator completes work at the Marcus Hook Industrial Complex. Range expects to expand its sales in the favorable local markets as well as potentially the international markets while the refrigeration and other facilities are being completed at Marcus Hook. Utilization of the Mariner East propane pipeline is expected to lower Range's cost of propane deliveries by approximately 20c per gallon when compared to 2014. This transportation cost reduction is expected to add significant value to the net realized price of propane in 2015 which could approach an additional $50Min cash flow on an annualized basis. Commissioning of the pipeline was originally expected to occur during Q1. Early commissioning reduced Range's propane production for the fourth quarter of 2014 because propane used as line fill is accounted for as inventory, not as sales. When the propane is taken out of inventory and sold, production is then recognized. Once the Mariner East pipeline is converted to transport both propane and ethane later in 2015, the company expects that a portion of the propane line fill inventory could be available for sale with production recognized at that time.
16:20 EDTRRCRange Resources reports proved reserves as of Dec. 31 increased 26% to 10.3 Tcfe
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January 14, 2015
10:00 EDTRRCOn The Fly: Analyst Upgrade Summary
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06:16 EDTRRCRange Resources upgraded to Overweight from Equal Weight at Barclays
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