Thanks for that edu, I did know! It is Range Res Corporation, but the gist of the article was mainly on the topic of HYDRAULIC FRACTURING and how this technique is taking off big time in the States, increasing revenues for all that use it! I would point out two issues that may occur on this board.
a. I am aware that as a result of the tremendous success of 'fraccing' in the US, there is a glut of gas reserves at present, and the price of gas has remained fairly flat. This however, does NOT mean that any significant 'find' would not benefit RRS!
b. 'fraccing' is not entirely new, just that the technique of application has improved and changing all the time. THERE IS SOME EVIDENCE, that way back in the early 1900's, an attempt to dynamite the bottom of a dry well resulted in the well hole collapsing in on itself...was this the first attempt at 'fraccing'?
RRS Price at posting:
23.0¢ Sentiment: ST Buy Disclosure: Held
