Range Resources (RRC) reminds you of the real asset value of a-buck-and-change nat gas when people are paying $16 for liquefied natural gas. I have loved this company ever since it came on the show and demonstrated that it is, for all intents and purposes, the "inventor" of the Marcellus shale. I have a chunk of Marcellus shale on my desk from Range as a reminder. It is by far the lowest-cost producer, and it has the best acreage, because it was the firstest with the mostest.
The company has never stood in the way of value creation. It has said that over and over again on the show. It has never denied that for the right price, it would sell, if you wanted to have an entry into this country and you have no natural gas to speak of and you know the export market is going to be alive and well. As much as I believe nat gas should be used for surface vehicles here, President Obama does not share that view, and he's more powerful than everyone combined.
So I am not surprised that Range Resources is ramping. I am sure it would go out much higher than this if there is a sale.
All that said, if you don't sell half, I think you are being very greedy, and greed in this business is not good.
