Marcellus Shale Play Could Be a Take-Over Target
Range Resources Corp. who holds the second most drilling leases in the Marcellus Shale natural gas region is being considered as a take-over target for companies like BP and Exxon, Bloomberg reports. The company is currently being traded at 56 times its projected earnings for 2012. And analysts are projecting the company’s profits to triple over the next three years. Despite increased EPA attention, shale plays continue to show great profit potential.
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