Range Resources down on drilling update
Range Resources, the oil and gas explorer, has dropped 3% this morning following the announcement it is yet to reach its target depth at its Albrecht appraisal well in Texas.
Range Resources, the oil and gas explorer, has dropped 3% this morning following the announcement it is yet to reach its target depth at its Albrecht appraisal well in Texas.
Currently the dig is at 9,150ft, while the target is 14,500ft.
In the same update Range announced that 15.5m Australian dollars have been raised after outstanding share options (both listed and directors) were exercised at the end of 2011.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Range Resources' shares are 0.27% ahead of where they were at this time last year, after a roller-coaster 2011 in which the stock gained 160% on news of new finds before retreating back again.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Review: Eden Roc Cap Cana – fun, sun and golf in the Caribbean
Travel Eden Roc Cap Cana in the Dominican Republic offers everything from relaxing by the pool to a world-class golf course
-
Reeves delays cash ISA reform, but savers are not out of the woods yet
The chancellor has reportedly delayed plans to cut the cash ISA limit, which were set to be announced at Mansion House on 15 July, and will take more time to consult with the industry