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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
January 18, 2006 (January 18, 2006)
RANGE RESOURCES CORPORATION
(Exact name of registrant as specified in its charter)
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Delaware
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001-12209
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34-1312571 |
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(State or other jurisdiction of
incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.) |
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777 Main Street, Suite 800
Ft. Worth, Texas
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76102 |
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(Address of principal executive offices)
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(Zip Code) |
Registrants telephone number, including area code: (817) 870-2601
(Former name or former address, if changed since last report): Not applicable
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligations of the registrant under any of the following provisions (see General
Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 8.01 Other Events
On January 18, 2006 Range Resources Corporation issued a press release announcing its
fourth quarter of 2005 production volumes and realized prices. A copy of this press release is
being furnished as an exhibit to this report on Form 8-K.
ITEM 9.01 Financial Statements and Exhibits
(c) Exhibits:
99.1 Press Release dated January 18, 2006
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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RANGE RESOURCES CORPORATION
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By: |
/s/RODNEY L. WALLER
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Rodney L. Waller |
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Senior Vice President |
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Date: January 18, 2006
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EXHIBIT INDEX
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Exhibit |
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Number |
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Description |
99.1
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Press Release dated January 18, 2006 |
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exv99w1
EXHIBIT 99.1
NEWS RELEASE
RANGE REPORTS RECORD PRODUCTION
FORT WORTH, TEXAS, JANUARY 18, 2006...RANGE RESOURCES CORPORATION (NYSE: RRC) today reported
that fourth quarter 2005 production volumes rose to 250.3 Mmcfe per day, a 16.5% increase over the
prior-year period. Approximately 72% of the Companys production in the quarter was natural gas.
Production for the year averaged 239.1 Mmcfe per day, a 22% increase over 2004. Range has now
posted twelve consecutive quarters of sequential production growth.
The Company also announced that its fourth quarter 2005 oil and gas price realizations (including
the impact of hedging) averaged $6.87 per mcfe. This represents a 40% increase over the prior-year
period and a 9% increase over third quarter 2005. During 2005, approximately a quarter of Ranges
production was hedged with swaps that were put in place several years ago at prices that were
significantly lower than current market prices. These swaps expired at the end of 2005. Based on
current futures prices and the rolling off of the low price hedges, realized prices are anticipated
to increase significantly in 2006.
Commenting on the announcement, John Pinkerton, Ranges President and CEO, said, We are very
pleased to have achieved double digit production growth again in 2005. It is a testament to our
operating teams that sequential production growth was posted each quarter, despite the impact of
the hurricanes and numerous pipeline shut-ins. In 2006, we expect production to continue to
increase, with over 1,000 wells planned, targeting the largest inventory in our Companys history.
Additionally, our technical teams are making solid progress expanding our emerging plays. We are
hopeful that one or more of these plays will prove to be commercial in 2006.
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, capital expenditures, the number of wells to be drilled, future realized
prices and anticipated financial results 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, managements
assumptions and the Companys 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 Companys filings with the
Securities and Exchange Commission, which are incorporated by reference.
2006-2
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Contact: |
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Rodney Waller, Senior Vice President
Karen Giles
(817) 870-2601
www.rangeresources.com |
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