|Range Update Regarding MarkWest Houston Processing Plant Outage|
Last night MarkWest reported an incident at its
Range and MarkWest are working closely and are in the process of diverting production to MarkWest's facilities at Majorsville,
Based on preliminary reports from MarkWest, the impact to Range's production is expected to be minimal in the second quarter. Range's second quarter production guidance remains at 1,065 to 1,075 Mmcfe per day.
All statements, except for statements of historical fact, made in this release such as expected repair time estimates, expected production for the quarter and initial damage assessments are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on assumptions and estimates that management believes are reasonable based on currently available information; however, management's assumptions and Range's future performance are subject to a wide range of business risks and uncertainties and there is no assurance that these goals and projections can or will be met. Any number of factors could cause actual results to differ materially from those in the forward-looking statements, including, but not limited to, the volatility of oil and gas prices, the results of our hedging transactions, the costs and results of drilling and operations, the timing of production, mechanical and other inherent risks associated with oil and gas production, weather, the availability of drilling equipment, changes in interest rates, litigation, uncertainties about reserve estimates, environmental risks and regulatory changes. Range undertakes no obligation to publicly update or revise any forward-looking statements. Further information on risks and uncertainties is available in Range's filings with the
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