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Range Resources Agrees To Sell Barnett Shale Assets For $900 Million

DOW JONES NEWSWIRES Range Resources Corp. (RRC) signed a deal to sell its Barnett Shale properties in Texas for $900 million. The company has been selling non-core properties in recent years, using proceeds to develop areas with higher returns. The sale, which is expected to close in April, comes despite Environmental Protection Agency accusations that Range contaminated drinking wells in Texas, a charge the company denies. Range had said the allegation likely wouldn't hinder its efforts to sell the assets. Range announced those efforts in October. The company also said its 2011 capital-expenditure budget was set at $1.38 billion, mostly dedicated to Marcellus Shale operations. In the third quarter, Range swung to the red after profits in the first half broke a three-quarter streak of losses. However, the loss was narrower then because of record output improving revenue. The company is expected to release fourth-quarter results later Monday. Range shares were down 1.5% at $53.50 after hours. Through the close, the stock had risen 7.3% in the last year, underperforming the market at large. -By Joan E. Solsman, Dow Jones Newswires; 212-416-2291;

Stock News for Range Res (RRC)
11/24/201514:46:38Statement of Changes in Beneficial Ownership (4)
11/06/201517:47:54Statement of Changes in Beneficial Ownership (4)
11/04/201514:06:04Asset Sale Sends Range Resources Corp.'s Stock Soaring
10/30/201518:01:02Statement of Changes in Beneficial Ownership (4)
10/29/201508:39:17Current Report Filing (8-k)
10/28/201517:04:51Quarterly Report (10-q)
10/27/201501:04:15Is It Finally Time To Buy Natural Gas?
10/20/201514:22:01Uncompleted Wells - The New Seasonal Natural Gas Storage
10/09/201517:08:05Statement of Changes in Beneficial Ownership (4)
09/14/201517:03:10Statement of Changes in Beneficial Ownership (4)
09/14/201517:00:34Initial Statement of Beneficial Ownership (3)
09/14/201508:09:00RANGE RESOURCES (RRC) SHAREHOLDER ALERT – Andrews & Springer L...
09/11/201510:52:31Current Report Filing (8-k)
09/01/201512:06:31Statement of Changes in Beneficial Ownership (4)
08/10/201513:50:28Amended Statement of Ownership (sc 13g/a)
07/30/201510:30:23Current Report Filing (8-k)
07/29/201509:30:00Independent Oil and Gas Stocks Technical Snapshot -- Apache...
07/28/201516:58:43Quarterly Report (10-q)
07/16/201517:10:58Statement of Changes in Beneficial Ownership (4)
07/16/201517:09:07Statement of Changes in Beneficial Ownership (4)

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