NEWS RELEASE

RANGE ANNOUNCES SIGNIFICANT GAS DISCOVERY

FORT WORTH, TEXAS, JUNE 11, 2003…RANGE RESOURCES CORPORATION (NYSE: RRC) today announced it had drilled and completed a significant discovery well in South Louisiana. The Faulk #1, which tested Marg Howei objectives, was drilled to a total measured depth of 11,314 feet, encountering 42 feet of net gas pay. The well is currently producing 14.8 (4.7 net) Mmcf and 404 (128 net) barrels of condensate per day. Range owns a 45% working interest (32% net revenue interest) and is operator of the well. The Company expects to spud another well in the area within 60 days.

In the Texas Panhandle, the Courson Ranch area continues to yield drilling success from the Morrow Sands. Since discovery in November of 2002, three field wells have produced over 187 million cubic feet of gas and 92 thousand barrels of oil. The field is currently producing at a rate of 2.3 Mmcf and 458 barrels of oil per day (2.8 Mmcfe/day net). A fourth well, the Courson Ranch #1-150 is being completed and should flow at the top allowable rate of 340 barrels of oil per day. Additional drilling continues in the field with seven wells remaining to be drilled in 2003. The Company owns a 73% working interest (55% net revenue interest) in the 34,000-acre ranch.

In the Watonga/Chickasha trend of western Oklahoma, the Coyote #1-8 commenced sales in late May at a rate of 2.3 (1.6 net) Mmcf per day. The Coyote well is an offset to the Wolfe #1-8, which began sales in the first quarter of 2003 and is currently producing at a rate of 1.6 (1.1 net) Mmcf per day. An additional offset is scheduled in the third quarter. On average, the Company owns 87% working interest (70% net revenue interest) in these wells.

Finally, the West Cameron #45-20 well located in the Gulf of Mexico has just been returned to production at an initial rate of 11.9 (2.4 net) Mmcf per day. Range owns a 25% working interest (20% net revenue interest) in the well. The West Cameron #45-20 discovery had originally been placed on production in December 2002. In late April, while producing approximately 30 (6.0 net) Mmcfe per day, the well encountered mechanical problems that caused the well to be shut-in. After diagnostic testing, a remedial workover was completed returning the well to production. The well will be closely monitored over the next several weeks and, if no further issues arise, the production rate is expected to be slowly increased.

John H. Pinkerton, President of Range Resources, commented, “The Faulk discovery represents another in a series of discoveries for our Gulf Coast unit. In addition, our Texas Panhandle and western Oklahoma drilling effort continues to expand. These efforts should lead to rising production for both the second and third quarters. Although still early in the year, we are on track to meet our production and reserve growth goals for 2003.”

RANGE RESOURCES CORPORATION is an independent oil and gas company operating in the Permian, Midcontinent, Gulf Coast and Appalachian regions of the United States.

2003-11

Contacts: Rodney Waller, Senior Vice President Karen Giles

(817) 870-2601

www.rangeresources.com

Except for historical information, statements made in this release, including those relating to future production and reserves 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 management believes are reasonable based on currently available information; however, management’s assumptions and the Company’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 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, and environmental risks. The Company undertakes no obligation to publicly update or revise any forward-looking statements. Further information on risks and uncertainties is available in the Company’s filings with the Securities and Exchange Commission, which are incorporated by reference.