Range Reaches Production Milestone

RANGE RESOURCES CORPORATION (NYSE: RRC) announced today that it has reached the 400 Mmcfe per day production milestone. The Company currently anticipates that fourth quarter 2008 production will be within its previous guidance of 400 to 405 Mmcfe per day. This represents an 18% increase for the quarter and nearly a 20% increase for the year. This will also represent Range’s 24^th consecutive quarter of sequential production growth. The rising production is the result of the Company’s successful drilling program. All of Range’s divisions have increased production for the year through the drill bit.

Commenting on the announcement, John Pinkerton, Range’s Chairman and CEO, said, "Reaching 400 Mmcfe per day of production is a terrific milestone for all of us at Range. The drilling program has been the principle driver for our growth as we have focused on lower cost drilling versus higher cost acquisitions. As a result, we have maintained our low cost structure, which is critical in the current environment. Rising production, a low cost structure, hedges in place covering approximately 60% of next year’s production and strong liquidity position us well as we enter 2009.”

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 those relating to anticipated production, costs and liquidity, and anticipated financial results are forward-looking statements as defined by the Securities and Exchange Commission and are subject to audit. These statements are based on assumptions and estimates that management believes are reasonable based on currently available information; however, management’s assumptions and the Company’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, and environmental risks. The Company undertakes no obligation to publicly update or revise any forward-looking statements. Further information on risks and uncertainties is available in the Company’s filings with the Securities and Exchange Commission, which are incorporated by reference.