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Range Resources Ltd Share Chat (RRL)



Share Price: 0.5705Bid: 0.521Ask: 0.62Change: 0.00 (0.00%)No Movement on Range Res.
Spread: 0.099Spread as %: 19.00%Open: 0.5705High: 0.5705Low: 0.5705Yesterday’s Close: 0.5705


Share Discussion for Range Resources Ltd


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Sanchez57
Posts: 1,541
Off Topic
Opinion:No Opinion
Price:0.46
View Thread (2)
RE: Pleased and confused
10 May '16
Cheers celtic for manfully keeping the bb forums alive - been many tumble weed days as we await news to digest.

Your call on Saudi minister change is wrong though. The new man is totally behind low price policy that is seen as pushing their economy away from oil dependency. No time to go into more detail here.!

Another element is to do with US- Saudi defence pact that has been endangered by rise of US self sufficiency via the shale revolution. Roll on ops news to boost sentiment and TT onshore production.
 
Celticheart
Posts: 9,778
Observation
Opinion:Strong Buy
Price:0.46
RE: Pleased and confused
10 May '16
Firstly there was no "massive sell off" only around 5 million shares were traded and many of those trades were wrongly shown as sells instead of buys. The Saudi oil minister has been removed because his strategy was not working and has damaged Saudi Arabia in the process. Let's see what happens under the new minister who will in effect control OPEC.
Daverec
Posts: 14
Off Topic
Opinion:No Opinion
Price:0.46
Pleased and confused
10 May '16
Today our favourite underperforming share has a massive sell off and the price goes up. No material new news unless we didn't like the Saudi oil Minister. Ho hum, more of the same please as I have a long way to go to break even!
volley
Posts: 2,307
Observation
Opinion:No Opinion
Price:0.445
Buy as sell
10 May '16
I see my 08.30am buy of 305851 at 0.47 is showing as a sell.
Sanchez57
Posts: 1,541
Off Topic
Opinion:No Opinion
Price:0.445
RE: when are flow results due
10 May '16
They have only really had time to test the lower zone and there is much in middle and upper zones that were also to be tested.

many say or think that mgt would rush out initial findings if good [or bad] but that bit by bit news flow is more for LGO or our old mgt with their Ipad gushing . IMHO
bistable2
Posts: 778
Question
Opinion:No Opinion
Price:0.445
when are flow results due
10 May '16
please forgive my ignorance but I was expecting flow tests from the recent oil finds from the recent drill-am I correct and when will this be likely-anyone know
Celticheart
Posts: 9,778
Observation
Opinion:No Opinion
Price:0.445
Saudi oil minister change
10 May '16
Celticheart
Posts: 9,778
Observation
Opinion:No Opinion
Price:0.50
Malcy's Blog / Oil Price
9 May '16
Malcy's Daily Blog
WTI $44.66 +34c, Brent $45.37 +36c, Diff $0.71 +2c, NG $2.10 +3c
Oil price
Last week the bears had it, WTI fell $1.26 and Brent exactly $2 as fears of over supply, weak Chinese data, a strong dollar and poor labour data from the US meant that oil drifted in patchy trading. This week could be anything but for choice the bulls may have the upper hand. For them they see supply outages around the world becoming more meaningful as Canada joins Iraq, Libya, Nigeria, Venezuela, Brazil and others who have cut back production one way or other recently. Indeed the fires in Canada could mean more cuts and for longer, I am hearing around a third of production is shut-in, say 600/- b/d and may be for some time, with that number and the others mentioned it’s not difficult to see 1m b/d off the market, albeit of a temporary nature. Not of a temporary nature is the excellent article by Ed Crooks in the FT today, ‘investment cuts see oil discoveries hit 60-year low’. As you know I have been banging on about what is now the best part of $500bn worth of investments canceled or back-burnered, here Ed talks about last year’s discoveries of 2.8bn barrels of oil and liquids as being the lowest since 1954. With offshore spend apparently taking the biggest hit, then the medium and longer term projects will be the hardest hits, in the absence of fossil fuels being replaced there is only one meaningful and long term source…
Talking about Saudi Arabia, much is changing and the weekend found Oil Minister Ali al-Naimi replaced at the helm by Khalid al Fatih who was Chairman of Saudi Aramco so policy will probably not change per se. What is changing under MbS is that project 2030 means that lessening of dependence on oil and of course the potential flotation of SA in 2017/18 at a mooted price of some $2.5tn means that if I can use the expression, ‘nothing is sacred’.
Celticheart
Posts: 9,778
Observation
Opinion:Strong Buy
Price:0.50
View Thread (2)
Malcy's blog
9 May '16
Range Resources
More good news from Range this morning, one cannot dispute that the management are continuing to make deals that, should all go according to plan, and the guidance target of 2,500 b/d by the end of 2017 is achieved, then returns should be higher. Today they have announced that they have agreed with Petrotrin that they will reduce overriding royalty rates on the Morne Diablo, Beach Marcelle and South Quarry fields which will mean that the revised ORR’s will apply when the WTI price is below $50. At current production levels the impact will be minimal but will progressively increase at higher production levels with the revenue benefit estimated to be 7% at 2,500 bopd and the same oil price. The company say that this is ‘a welcome incentive introduced by Petrotrin at a time of sustained lower commodity prices’.
Rexco
Posts: 3,008
Off Topic
Opinion:Buy
Price:0.4355
RE: Reduced royalty rates
9 May '16
It is just a safety net when POO is below US$50.

Good for the company but hopefully the POO will be above that by the end of this year.




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