Range pares leverage with Nora Field sale

摘要

Range Resources Corp. (NYSE: RRC), Fort Worth, is selling its Nora Field assets in southwest Virginia to reduce debt by about 24%, according to analysts. Range will receive $876 million for some 3,500 operated wells and 465,000 net acres in the Nora/Haysi combined fields. In third-quarter 2015, the assets produced 109 MMcf/d, or about 7.5% of Range's net production.