219M

Range Resources said Tuesday it paid $219 million for an unnamed company with 205 Bcfe of Appalachian oil and gas reserves, 99% of which are natural gas and only 40% of which are developed. Range said the acquisition involves the legacy oil and gas assets of an eastern coal company that date back almost a century. More than 80% of the reserves are coalbed methane.

Range Resources said Tuesday it paid $219 million for an unnamed company with 205 Bcfe of Appalachian oil and gas reserves, 99% of which are natural gas and only 40% of which are developed. Range said the acquisition involves the legacy oil and gas assets of an eastern coal company that date back almost a century. More than 80% of the reserves are coalbed methane.