Range Resources Spokesperson Says Restrictions by Susquehanna River Basin Commission Have No Impact on Company's Activities
Range Resources (NYSE: RRC) spokesperson Matt Pitzarella told Benzinga: "Almost all of our activity is outside of the Susquehanna River Basin. However, we are seeing the normal seasonal low flows on the smaller permitted sources, which is anticipated and planned for. In fact, it's p[art of the permitting process, as the state plans for this as well. We strategically plan and permit large sources, such as the Ohio River and reservoirs, and have infrastructure such as pipeline and impoundments to avoid seasonal impacts to operations. We also utilize municipal sources, such as PA American Water, which also utilize sources minimally impacted by seasonal variations. Additionally our continued optimization of completions techniques requires less water and our 100% recycle program decreases our overall fresh water requirements by up to 30%."
He added: "Also, keep in mind that Pennsylvania has more surface waters than any state other than Alaska."
Range Resources is trading at $60.50, down $0.87, but off the low of $59.30 on Friday.
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