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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)
08/25/201611:30:49Current Report Filing (8-k)
08/17/201610:00:36Current Report Filing (8-k)
08/17/201607:00:00Range Resources Corporation Announces Early Tender Results for...
08/16/201608:50:00Northern Oil and Gas Fires CEO as SEC Investigates Him
08/10/201616:45:47Prospectus Filed Pursuant to Rule 424(b)(3) (424b3)
08/10/201616:42:43Proxy Statement - Merger or Acquistion (definitive) (defm14a)
08/08/201616:51:41Current Report Filing (8-k)
08/08/201612:47:45Amended Statement of Beneficial Ownership (sc 13d/a)
08/08/201606:00:00Range Resources Corporation to Add New Independent Director to...
08/03/201609:49:41Current Report Filing (8-k)
08/03/201607:00:05Range Resources Corporation Commences Offers and Consent Solicitations...
08/02/201606:02:08Notice of Effectiveness (effect)
07/29/201616:29:02Registration Statement for Securities to Be Issued in Business...
07/26/201617:31:00Current Report Filing (8-k)
07/26/201617:28:00Quarterly Report (10-q)
07/26/201616:31:00Range Announces Second Quarter 2016 Results
07/18/201616:58:37Current Report Filing (8-k)
07/18/201616:30:00Memorial Resource Development Corp. Announces Meeting Date and...
07/18/201609:00:00Oil Price Stabilization Means Influx in M&A Activity
07/15/201606:04:53Registration Statement for Securities to Be Issued in Business...

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