Range Resources Corp (RRC)

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Range estimates that during the third quarter it incurred a net expense of approximately $3.7 million related to purchasing and blending third party dry gas into its rich residue gas from the southwest portion of the Marcellus. The purchase and sale will be reported separately in “Brokered natural gas and marketing revenues and expenses” for the quarter. The Mariner West project, expected to be fully operational during November, will eliminate Range’s need for gas blending in the future.

Commenting on the announcement, Jeff Ventura, Range’s President and CEO, said, “Third quarter production results were outstanding and reflect the continuing efforts of our operating and marketing teams. The success of our drilling program keeps us on track to achieve the high-end of our production growth target of 20% to 25% for 2013. More importantly, our sizable position in the Marcellus Shale gives us confidence that we can deliver similar growth of 20% to 25% for many years. We believe this strong growth, coupled with high returns, low cost and low reinvestment risk will allow Range to drive substantial growth per share for our shareholders for years to come.”