....and Malcy is also optimistic about RRS/L Range Resources...

....and Malcy is also optimistic about RRS/L

Range Resources

Nothing in the Range interim update that we didnt already know, revenue was in line and the loss after impairments as expected. Production remains at 495 b/d but is increasing fast particularly as the waterflood projects are moving ahead with one in production. The shares are suspended at present owing to the recent rig deal being a technical RTO but the management are still talking about making ‘value enhancing acquisitions’ which should they come off make Range a most interesting prospect for 2H 2017. With the balance sheet in much better shape after this deal which should increase efficiency and reduce costs the outlook looks increasingly optimistic.