Range Closes Sale of West Texas Properties

RANGE RESOURCES CORPORATION (NYSE: RRC) today announced that it has closed the sale of its West Texas Fuhrman Mascho properties located in Andrews County, Texas for $182 million. The transaction is subject to certain post-closing adjustments. The properties include Range’s interests in 445 producing wells and 54 water injection wells located on approximately 13,200 acres. Net daily production from the properties averaged approximately 15 Mmcfe for the second quarter of 2009.

The proceeds from the sale were used to pay down the outstandings on Range’s revolving bank credit facility. At June 30^th, there was approximately $400 million outstanding on the facility, providing Range with $1.1 billion of borrowing base capacity under the facility.

Commenting on the announcement, John Pinkerton, Range’s Chairman and CEO, said, "Several years ago we made the decision to begin selling our non-core properties and redirecting the proceeds to higher-return projects. Since then, we have generated more than $500 million of sales proceeds that we have used to help fund our growth projects. Today, Range has the strongest balance sheet in its history. We are in an excellent position to seize opportunities and to continue our strategy of driving up production and reserves, while maintaining one of the lowest cost structures in the industry.”

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

Except for historical information, statements made in this release, including expected timing of the post-closing adjustments, future potential of properties, 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 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.