UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
June 18, 2008 (June 17, 2008)
June 18, 2008 (June 17, 2008)
RANGE RESOURCES CORPORATION
(Exact name of registrant as specified in its charter)
| Delaware | 001-12209 | 34-1312571 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| 777 Main Street, Suite 800 | ||
| Ft. Worth, Texas | 76102 | |
| (Address of principal executive | (Zip Code) | |
| offices) |
Registrant’s 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 7.01 Regulation FD Disclosure
On June 17, 2008 Range
Resources Corporation issued a joint press release announcing an agreement
with MarkWest Energy Partners, L.P. to construct and operate gas gathering pipelines and processing facilities associated
with its Appalachian Basin. A copy of this press release is being furnished as an exhibit to this
report on Form 8-K.
In accordance with General Instruction
B.2. of Form 8-K, the information in this Current Report on Form 8-K under this heading, including Exhibit 99.1, shall not be deemed
“filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject
to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities
Act of 1933, as amended, except as shall be expressly set forth in such a filing.
ITEM 9.01 Financial Statements and Exhibits
(c) Exhibits:
| 99.1 | Press Release dated June 17, 2008 |
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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.
| RANGE RESOURCES CORPORATION |
||||
| By: | /s/ Roger S. Manny | |||
| Roger S. Manny | ||||
| Senior Vice President | ||||
Date: June 18, 2008
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EXHIBIT INDEX
| Exhibit Number | Description | |
99.1
|
Press Release dated June 17, 2008 |
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EXHIBIT 99.1
NEWS RELEASE
RANGE RESOURCES AND MARKWEST ENERGY PARTNERS
ANNOUNCE MARCELLUS SHALE AGREEMENT
ANNOUNCE MARCELLUS SHALE AGREEMENT
FORT WORTH AND DENVER — JUNE 17, 2008...RANGE RESOURCES CORPORATION (NYSE: RRC) AND MARKWEST ENERGY
PARTNERS, L.P. (NYSE:MWE) today announced their agreement for MarkWest to construct and operate gas
gathering pipelines and processing facilities associated with Range’s Marcellus Shale acreage in
the Appalachian Basin. MarkWest expects to invest approximately $50 million in 2008 and
anticipates investing up to an additional $125 million in 2009 based on projects currently being
developed.
“We are very pleased to announce this arrangement with MarkWest Energy Partners,” said John
Pinkerton, Chairman of the Board and Chief Executive Officer of Range Resources. “Range has well
over one million net acres in the Marcellus play. Having the pipeline and processing
infrastructure in place will be important for us to develop the reserve potential of the play.
Given our continued drilling success in the Marcellus and the MarkWest arrangement, we anticipate
selling material quantities of natural gas by the first quarter 2009. MarkWest has a proven track
record of supporting producers in the development of shale plays, and we look forward to partnering
with them.”
“We are excited about this agreement and our strategic relationship with Range Resources,” said
Frank Semple, President and Chief Executive Officer of MarkWest Energy Partners. “The Marcellus
Shale is one of the most exciting new natural gas plays in the U.S., and Range is leading the
development of this important resource. This gathering and processing arrangement will establish
our presence in the prolific Marcellus Shale play and will provide the critical link between gas
produced at the wellhead and downstream delivery to the markets.”
MarkWest will discuss the project in more detail in its second quarter earnings release conference
call.
RANGE RESOURCES CORPORATION is an independent oil and gas company operating in the Southwestern,
Appalachian and Gulf Coast regions of the United States.
MARKWEST ENERGY PARTNERS, L.P. is a growth-oriented master limited partnership engaged in the
gathering, transportation, and processing of natural gas; the transportation, fractionation,
marketing, and storage of natural gas liquids; and the gathering and transportation of crude oil.
MarkWest has extensive natural gas gathering, processing, and transmission operations in the
southwestern and Gulf Coast regions of the United States and is the largest natural gas processor
in the Appalachian region. The primary business strategy of MarkWest is to provide outstanding
customer service at competitive rates and to expand its assets and cash flow available for
distribution through a balanced combination of organic growth projects and selective acquisitions.
Range Resources Corporation Forward-Looking Statements: Except for historical information,
statements made in this press release, including those relating to expected capital expenditures,
acquisitions, production growth, reserve additions and rates of return are forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. These statements are based on assumptions and
estimates that Range’s management believes are reasonable based on currently available information;
however,
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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, and
environmental risks. 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, as well
as in the MarkWest Energy Partners, L.P. Forward-Looking Statements below.
MarkWest Energy Partners, L.P. Forward-Looking Statements: This press release includes
“forward-looking statements.” All statements other than statements of historical facts included or
incorporated herein may constitute forward-looking statements. Actual results could vary
significantly from those expressed or implied in such statements and are subject to a number of
risks and uncertainties. Although MarkWest believes that the expectations reflected in the
forward-looking statements are reasonable, MarkWest can give no assurance that such expectations
will prove to be correct. The forward-looking statements involve risks and uncertainties that
affect MarkWest’s operations, financial performance, and other factors as discussed in filings with
the Securities and Exchange Commission. Among the factors that could cause results to differ
materially are those risks discussed in MarkWest’s Annual Report on Form 10-K, as amended, for the
year ended December 31, 2007, as filed with the SEC. You are urged to carefully review and
consider the cautionary statements and other disclosures made in those filings, specifically those
under the heading “Risk Factors,“as well as in the Range Resources Corporation Forward-Looking
Statements disclosure above. MarkWest does not undertake any duty to update any forward-looking
statement except as required by law.
Range Resources Corporation:
2008-20
Contact:
|
Rodney Waller, Senior Vice President | |
| David Amend, IR Manager | ||
| Karen Giles, Corporate Communications Manager | ||
| (817) 870-2601 | ||
| www.rangeresources.com |
MarkWest Energy Partners, L.P.
1515 Arapahoe Street
Tower 2, Suite 700
Denver, CO 80202
1515 Arapahoe Street
Tower 2, Suite 700
Denver, CO 80202
Contact:
|
Frank Semple, President & CEO | |
| Nancy Buese, Senior VP and CFO | ||
| Andy Schroeder, VP Finance & Treasurer | ||
Phone:
|
(866) 858-0482 Fax: (303) 925-9308 | |
E-mail:
|
investorrelations@markwest.com | |
Website:
|
www.markwest.com |
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