Sunday, December 29, 2019

The Natural Gas Production Of The United States Essay

This case examines Range Resources, one of the top natural gas production companies in the United Sates. Their core values and corporate culture, have helped pave the way for them to be leaders in their industry. Range Resources has been praised for their economic and social benefits to the company’s surrounding communities. Additionally, safety and concern for the natural environment is one of the company’s top priorities. The company’s president and CEO Jeffrey Ventura is credited with the decision to drill the Marcellus Shale which turned out to be a huge pay off, and put them at the top of their field. Although Range Resources is a leader in the natural gas industry, there are still some who resist natural gas production for both safety and environmental concerns. Range Resources was originally started in 1976 as Lomak Petroleum Incorporated. In 1998 the name of the company changed to Range Resources. In 2004, Range Resources drilled the first successful ver tical well in the Marcellus Shale. By 2007, they had five consecutive successful horizontal wells, and have become one of the most active drillers on Marcellus Shale to date. This horizontal drilling method was a groundbreaking innovation and a win-win for the company. Horizontal drilling means more gas is released with less wells drilled. In 2009, Range Resources once again led the field in innovation by finding a way to recycle 100 percent of the water it used in the drilling process. In 2010, they became theShow MoreRelatedInformation About Oil And Natural Gas Extraction Industry1373 Words   |  6 PagesSeptember 18, 2014 Subject: Information about Oil and Natural Gas Extraction Industry This Report requested by the principal financial investor, Dr. Maria D. Davidson, includes information required to make an informed decision on whether or not to diversify into the Oil and Natural Gas Extraction industry. 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