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):
October 13, 2008 (October 10, 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.)

100 Throckmorton, Suite 1200 Ft. Worth, Texas		76102
(Address of principal executive offices)		(Zip Code)

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 October 10, 2008 Range Resources Corporation issued a press release providing information on third quarter production volumes and certain derivative information.

     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 October 10, 2008

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.

Date: October 13, 2008

EXHIBIT INDEX

Exhibit Number		Description
99.1		Press Release dated October 10, 2008

EXHIBIT 99.1

NEWS RELEASE

RANGE REPORTS RECORD PRODUCTION

FORT WORTH, TEXAS, OCTOBER 10, 2008...RANGE RESOURCES CORPORATION (NYSE: RRC) today reported that third quarter 2008 production volumes rose to 387 Mmcfe per day, a 19% increase over the prior-year period. Range has now posted 23 consecutive quarters of sequential production growth. Approximately 80% of the Company’s production in the quarter was natural gas.

The Company also reiterated that it has hedged 69% of its estimated fourth quarter 2008 gas production at a floor price of $8.84 per mcf and 60% of its 2009 estimated gas production at a floor of $8.31 per mcf. As of the close of business yesterday, Range’s natural gas hedges were in the money by $97 million. Its oil hedges were out of the money by $55 million. Range’s hedge counterparties include 14 financial institutions, 12 of which are in the Company’s bank group. Mitsui & Co. and J. Aron & Company (Goldman Sachs) are the two counterparties not in Range’s bank group. As of the close of business yesterday, Range’s mark to market position was an unrealized loss of $4.0 million with Mitsui & Co. and an unrealized gain of $0.7 million with J. Aron & Co.

Commenting on the announcement, John Pinkerton, Range’s Chairman and CEO, said, “The third quarter production exceeded the high end of our guidance and once again reflects the high quality of our operating teams. The production results were achieved despite production being shut-in due to the impact of the hurricanes on third party pipelines and gas processing plants. We are confident that full year 2008 production will meet or exceed our 19% growth target. We are also confident that production will reach the 400 Mmcfe per day benchmark during the fourth quarter. This will put us in a terrific position as we enter 2009. Steadily growing production coupled with our low cost structure and our well constructed hedge position will drive cash flow higher in 2009. As a result, we are in a solid position to execute our business strategy and continue to build stockholder value.”

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 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.

2008-27

Contact:		Rodney Waller, Senior Vice President David Amend, IR Manager Karen Giles, Sr. IR Specialist (817) 870-2601 www.rangeresources.com