Range Resources Corporation has closed the sale of its West Texas Fuhrman Mascho properties located in Andrews County, Texas for $182 million. The transaction is subject to certain post-closing adjustments. The properties include Range's interests in 445 producing wells and 54 water injection wells located on approximately 13,200 acres. Net daily production from the properties averaged approximately 15 Mmcfe for the second quarter of 2009.

The proceeds from the sale were used to pay down the outstandings on Range's revolving bank credit facility. At June 30th, there was approximately $400 million outstanding on the facility, providing Range with $1.1 billion of borrowing base capacity under the facility.

John Pinkerton, Range's Chairman and CEO, said, "Several years ago we made the decision to begin selling our non-core properties and redirecting the proceeds to higher-return projects. Since then, we have generated more than $500 million of sales proceeds that we have used to help fund our growth projects. Today, Range has the strongest balance sheet in its history. We are in an excellent position to seize opportunities and to continue our strategy of driving up production and reserves, while maintaining one of the lowest cost structures in the industry."

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