Takeout Rumors Continue to Swirl Around Range Resources

Shares of Range Resources

have been very active in recent days, as traders have been accumulating shares as well as call options. The catalyst has been repeated rumors of a potential takeout of the natural gas and oil company. Range Resources is a major player in shale natural gas and has some very valuable property in the Marcellus shale. The company is similar to Petrohawk Energy

, which was taken out by BHP Billiton

at a 60% premium earlier this year. Of all of the shale plays out there, Range Resources may be the most attractive and would allow a major global resource player to gain an immediate presence in the U.S. shale business. During Thursday's trading session, RRC shares have risen 2.19% to $69.45 despite a vicious sell off in equity markets. If an offer was forthcoming it would likely be between $80 to $100.