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.