Range Resources Corp. Must Think It's on to Something to Make These Moves
There aren't many oil and gas producers out there actively increasing their capital expenditures right now, but a willingness to do just that is what makes Range Resources so intriguing. Last week the company announced that it would raise its 2014capital budget to $1.5 billion to increase operations in the Marcellus shale, which is the exact opposite direction of Marcellus-focused peers Cabot Oil & Gas and Southwestern Energy . What makes this even more startling is that the company plans to tap the equity market to fund this effort, as well as to pay down some high-priced debt.
This is a pretty risky move, so Range must have some opportunity in its sights. Tune into the video below to find out what it may be and whether Range, Cabot, or Southwestern is the best choice to take advantage of the situation.
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The article Range Resources Corp. Must Think It's on to Something to Make These Moves originally appeared on Fool.com.Tyler Crowe has no position in any stocks mentioned. You can follow him at Fool.com under the handle TMFDirtyBird, on Google+, or on Twitter @TylerCroweFool. The Motley Fool recommends Range Resources. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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