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Land Management at Range and our Interconnection with Purple Land Management

Land Management at Range and our Interconnection with Purple Land Management. Mike Yurchak Carrie Schimizzi Arthur Medina. Range Resources. Independent exploration & production company Included in S&P 500 Regional Headquarters in Canonsburg, PA Pioneered Marcellus Shale, 2004

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Land Management at Range and our Interconnection with Purple Land Management

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  1. Land Management at Range and our Interconnection with Purple Land Management Mike Yurchak Carrie Schimizzi Arthur Medina

  2. Range Resources • Independent exploration & production company • Included in S&P 500 • Regional Headquarters in Canonsburg, PA • Pioneered Marcellus Shale, 2004 • Corporate Production Volumes: Avg. 1,105 Mmcfe per day (Q2 2014) • NYSE: RRC

  3. Oil & Gas Sectors Upstream –search for underground or underwater crude oil or natural gas fields, drilling exploratory wells, and subsequently drilling and operating the wells that bring the oil/gas to the surface Range Resources, Chesapeake, Gulfport, XTO, Cabot Midstream - the transportation (via pipeline, rail, barge, truck), storage, and wholesale marketing of oil, gas, or refined petroleum products Columbia Transmission, MarkWest, KinderMorgan Downstream – refining crude oil and processing natural gas, and marketing the products derived from oil, gas, and gas liquids. Products include gasoline, kerosene, diesel, home heating oil, propane, butane, ethylene (for plastic), lubricants, waxes, asphalt Marathon, Sheetz, Sunoco

  4. Range’s Land Department • Land Administration • Ownership information • Lease payments, royalty payments, shut-in payments • Division of interest forms, Royalty statements • Acquisition • Lease acquisition/divestiture – grassroots leasing, lease trades, protecting “at risk” acreage • Joint operations – farmins, farmouts, joint operating agreements • Well Clearance (Title Intensive) • Request and review title abstracts and certified title opinions • Ensure all curative requirements are met prior to drilling • Design formation of units • Preliminary division of interest calculations

  5. Well Clearance Team

  6. Acquisition Team Breakdown

  7. The Role of the Service Company • Purple Land Management • Authorized Vendor/Representative on Behalf of RRC • Perform and fulfill outsourced land request • Acquiring leases; dealing with landowners/attorneys/companies who own oil and gas rights • Perform abbreviated and extensive title procedures (“running title”) to verify ownership of oil and gas rights (in some cases surface) • We have to understand RRC’s best practices, land standards, drilling program/priorities, local and state regulations

  8. Good Topics To Know • Basic understanding of Geology (conventional reservoir vs. unconventional reservoir) • Other departments involved within the upstream segment • The ability to explain the basics of Petroleum Engineering • Current political environment, general concerns relating to health and safety in the industry, looming regulatory changes

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