First oil ///

We’re constantly bombarded with bad news. So, it is with pleasure that I bring to you a “feel good” story of the discovery of the Marcellus featuring Range Resources, a small but intrepid U.S. independent oil company. The story was told by Range President & CEO Jeff Ventura at the recent AAPG 2013 conference. This annual session was held May 19-22, for the first time in Pittsburgh, in recognition of the growing importance of the Marcellus shale play, now the largest U.S. gas field at 9 Bcfd. The Range story began in 2003 with a shift in the Fort Worth, Texas, company’s strategy from conventional high-risk, high-reward projects in the Gulf of Mexico, Appalachia and Permian, to large-scale, lower-risk, repeatable projects that are typical of shale plays. Ventura credited Bill Zagorsky, the Range geologist, who first proposed the plan of exploring the Marcelllus shale, but also said it was a team effort.

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