Focused

Unconventional play-focused Range Resources Corp. charted record quarterly production in 4Q2010 with an average of 541 MMcfe/d, an 18% jump from the year-ago period and an 8% increase from the previous quarter, the company said.

Unconventional play-focused Range Resources Corp. charted record quarterly production in 4Q2010 with an average of 541 MMcfe/d, an 18% jump from the year-ago period and an 8% increase from the previous quarter, the company said.

Shale player Magnum Hunter Resources Corp. grew its total proved reserves by 116% last year, and the value of reserves grew 171% from the year-ago period, the Houston-based company said Tuesday. And there will be more growth like that this year if the company’s CEO is correct.

Magnum Hunter Resources Corp. is acquiring Appalachian Basin-focused NGAS Resources Inc. for about $98 million in common stock and assumed liabilities. The deal represents a 41% premium to NGAS shareholders.

Petrohawk Energy Corp. has sold its natural gas assets in the Fayetteville Shale to XTO Energy Inc., a subsidiary of ExxonMobil Corp., for $575 million, the company said. The deal puts ExxonMobil at No. 2 in the Fayetteville leaseholder pack.

Houston’s Cabot Oil & Gas Corp., which now is focused on shale exploration, said Tuesday it sold its remaining investment in Canada for $61.3 million.

EXCO Resources Inc. CEO Douglas Miller has proposed a buyout of the company at $20.50/share cash, the Dallas-based natural gas-focused exploration and production company said Monday. Oilman T. Boone Pickens as well as two investment firms are said to be in on the offer, which is worth $4.36 billion.

EXCO Resources Inc. CEO Douglas Miller has proposed a buyout of the company at $20.50/share cash, the Dallas-based natural gas-focused exploration and production company said Monday. Oilman T. Boone Pickens as well as two investment firms are said to be in on the offer, which is worth $4.36 billion.

Houston-based Cabot Oil & Gas Corp., whose onshore operations are focused on three shale plays — the Marcellus, Eagle Ford and Haynesville/Bossier — said Tuesday it smashed quarterly production records in 3Q2010, with output hitting 36 Bcfe, which was a 41% jump year/year. Sequential production also rose 18%, exceeding guidance targets.