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Wednesday, February 15, 2012

Range Resources A Takeover Target?

Range Resources at 56 Times Profit Cheap in Shale Boom: Real M&A

By Tara Lachapelle and Mike Lee
Bloomberg

Range Resources Corp. (RRC)’s drilling operations in Pennsylvania’s Marcellus Shale natural-gas field are so coveted that the most expensive exploration and production company in America is now a takeover target.

While Range is trading at 56 times estimated 2012 earnings, the highest of any U.S. exploration and production company valued at more than $5 billion, the company also owns the second-most leases in the Marcellus Shale, according to data compiled by Bloomberg. With that region estimated to hold enough gas to supply the U.S. for six years, analysts project the Fort Worth, Texas-based company’s profits will triple over the next three years, the data show. More...

2 comments :

Anonymous said...

This is an excellent article which I hope folks will read in its entirety. The M & A's referred to are Mergers and Acquisitions. This is how other companies (foreign or domestic) get a piece of our pie. With Chesapeake selling off it holdings in TX, OK, and Mexico ... noted in other publications, just to maintain its BIG BOY status in our Utica and Marcellus, this is a definite wake-p call for folks to understand the value of what they have. Who in our region can outwit these outfits?

Anonymous said...

6 years??? what happend to 100's?