Range Resources bids fairwell to its Nora Field assets in southwest Virginia. Proceeds from the $876 million sale are anticipated to reduce the company's debt by 24%. Range isn't the only company selling its assets to reduce leverage. This video is sponsored by Carl Marks Advisors.
Sources:
Range Resources Parts With Virginia Assets To Reduce Leverage
A&D Outlook: Upstream Rebounds, Midstream Strong, Fourth Quarter Hazy
Armour Shareholders Say Yes To McClendon's $130 Million Deal
Whiting Sells More, Spends More In Third Quarter
Fidelity Exploration, Operator Since 1930, Sells Off Assets In Multiple Basins
Recommended Reading
What's Affecting Oil Prices This Week? (April 29, 2024)
2024-04-29 - Stratas Advisors says even with the reported drawdown in U.S. crude inventories, the price of Brent crude oil remains below the upward channel that had been in place since January of this year.
Hedge Funds Retreat from Oil as War Risk Fades: Kemp
2024-04-29 - Hedge funds and other money managers sold the equivalent of 95 MMbbl in the six most important petroleum futures and options contracts over the seven days ending on April 23.
Exxon’s Guyana Gas Project a “Win-Win,” Set for Hook-up by Year-end ‘24
2024-04-28 - Exxon Mobil Corp. CEO Darren Woods said the company’s gas-to-power project in Guyana is a “win-win proposition particularly for the people of Guyana” when completed and hooked-up by year-end 2024.
Segrist: The LNG Pause and a Big, Dumb Question
2024-04-25 - In trying to understand the White House’s decision to pause LNG export permits and wondering if it’s just a red herring, one big, dumb question must be asked.
Texas LNG Export Plant Signs Additional Offtake Deal With EQT
2024-04-23 - Glenfarne Group LLC's proposed Texas LNG export plant in Brownsville has signed an additional tolling agreement with EQT Corp. to provide natural gas liquefaction services of an additional 1.5 mtpa over 20 years.