Range Agrees to Sell Ohio Properties

RANGE RESOURCES CORPORATION (NYSE: RRC) today announced that it has signed a definitive agreement with EV Energy Partners, L.P. and certain institutional partnerships managed by EnerVest, Ltd. to sell its tight gas sand properties in Ohio for a purchase price of $330 million. The sale is expected to close in late March and is subject to customary closing conditions and purchase price adjustments.

Several years ago, Range began to sell non-core properties with the goal of providing additional capital for its higher return projects. In addition, by divesting of its more mature properties, Range strengthens its low-cost structure and focuses its operations. As part of its asset divestiture process, in the second quarter of 2009, Range sold its Fuhrman Mascho Field properties in West Texas for approximately $182 million of proceeds.

The Ohio properties include approximately 3,300 producing wells with net production of approximately 25 Mmcfe per day. Current production is 70% natural gas and 30% oil. The properties include approximately 418,000 net acres of leasehold and about 1,600 miles of pipeline and gathering system infrastructure.

Commenting on the announcement, John Pinkerton, Range’s Chairman and CEO, said, "The sale of the Ohio properties will help streamline our business and provide additional flexibility in implementing our 2010 capital spending program. Importantly, we are well positioned to deliver another year of double-digit production and reserve growth on a per share basis, while maintaining our strong financial position.”

RANGE RESOURCES CORPORATION (NYSE: RRC) is an independent oil and gas company operating in the Southwestern and Appalachian regions of the United States.

Except for historical information, statements made in this release, including expected timing of the closing of the sale of the Ohio properties, customary closing and purchase price adjustments, future growth of production and reserves and increased shareholder value are forward-looking statements as defined by the Securities and Exchange Commission. 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 ability to sell the subject properties, the volatility of oil and gas prices, 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 other risks and uncertainties set forth in Item 1.A. of Range’s 2008 Annual Report Form 10-K filed with the Securities and Exchange Commission. 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 Securities and Exchange Commission, which are incorporated by reference.