Range Announces Pricing of Senior Subordinated Notes

  Range Announces Pricing of Senior Subordinated Notes

Business Wire

FORT WORTH, Texas -- March 4, 2013

RANGE RESOURCES CORPORATION (NYSE: RRC) announced today that it has priced at
par an offering of $750 million aggregate principal amount of senior
subordinated notes due 2023, which will carry an interest rate of 5.0%. Range
expects that the net proceeds of the offering will be approximately $737.8
million and intends to use the net proceeds to repay borrowings under its
senior credit facility. Range expects to close the sale of the notes on March
18, 2013, subject to the satisfaction of customary closing conditions. The
size of the offering was increased from the previously announced $500 million
to $750 million.

The notes will not be registered under the Securities Act of 1933 or the
securities laws of any state and may not be offered or sold in the United
States absent registration or an applicable exemption from the registration
requirements under the Securities Act and applicable state securities laws.
The notes may be resold by the initial purchasers pursuant to Rule 144A and
Regulation S under the Securities Act.

RANGE RESOURCES CORPORATION (NYSE: RRC) is a leading independent oil and
natural gas producer with operations focused in Appalachia and the Southwest
region of the United States. The Company pursues an organic growth strategy
targeting high return, low-cost projects within its large inventory of low
risk, development drilling opportunities. The Company is headquartered in Fort
Worth, Texas.

The securities have been offered only to qualified institutional buyers under
Rule 144A and to persons outside the United States under Regulation S. This
announcement is neither an offer to sell nor a solicitation of an offer to buy
any of the senior subordinated notes referred to above. There shall not be any
sale of any such securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.

Except for historical information, statements made in this release about the
proposed offering are forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. These statements are based on assumptions and estimates that
Range’s management believes are reasonable based on currently available
information; however, management’s assumptions and Range’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 results of Range’s hedging transactions, 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, environmental risks and regulatory
changes. Range undertakes no obligation to publicly update or revise any
forward-looking statements. Further information on risks and uncertainties is
available in Range’s filings with the SEC, which are incorporated herein by
reference.

Contact:

Range Resources Corporation
Rodney Waller, 817-869-4258
Senior Vice President
or
David Amend, 817-869-4266
Investor Relations Manager
or
Laith Sando, 817-869-4267
Manager of Research
or
Michael Freeman, 817-869-4264
Financial Analyst
 
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