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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)
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07/01/201616:28:39Statement of Changes in Beneficial Ownership (4)
07/01/201616:27:21Statement of Changes in Beneficial Ownership (4)
06/29/201606:05:57Current Report Filing (8-k)
06/23/201616:34:21Statement of Changes in Beneficial Ownership (4)
06/20/201617:27:02Statement of Beneficial Ownership (sc 13d)
06/13/201616:21:43Securities Registration: Business Combination (s-4)
06/13/201615:14:52Annual Report of Employee Stock Plans (11-k)
05/27/201617:17:28Statement of Changes in Beneficial Ownership (4)
05/27/201617:14:24Statement of Changes in Beneficial Ownership (4)
05/27/201617:12:12Statement of Changes in Beneficial Ownership (4)
05/27/201617:09:58Statement of Changes in Beneficial Ownership (4)
05/27/201617:07:16Statement of Changes in Beneficial Ownership (4)
05/23/201617:23:56Statement of Changes in Beneficial Ownership (4)
05/20/201617:43:22Statement of Changes in Beneficial Ownership (4)
05/20/201617:37:02Statement of Changes in Beneficial Ownership (4)
05/20/201617:35:43Statement of Changes in Beneficial Ownership (4)

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