NEWS RELEASE

 

RANGE APPOINTS NEW CHIEF OPERATING OFFICER  

 

 

FORT WORTH, TEXAS, JUNE 18, 2003…RANGE RESOURCES CORPORATION (NYSE: RRC) announced today that Jeff Ventura will join the Company as its Executive Vice President and Chief Operating Officer in mid-July.

 

Mr. Ventura brings 24 years of technical and management experience in the oil and gas industry.  Since 1997, Mr. Ventura has been with Matador Petroleum Corporation, most recently serving as its President and Chief Operating Officer.  Matador is currently being sold, with the transaction scheduled to close later this month.  During his six years at Matador, the company’s reserves grew more than seven fold.  Prior to 1997, Mr. Ventura spent eight years at Maxus Energy Corporation where he managed engineering and development operations and was responsible for coordinating engineering technology.  Previously, Mr. Ventura had been with Tenneco, where he held various engineering and operating positions.  Mr. Ventura holds a Bachelor of Science degree in Petroleum and Natural Gas Engineering from Penn State University.        

 

Simultaneously, Range announced that Eddie LeBlanc, the Company’s Chief Financial Officer, had resigned to join a private energy company.  A search to replace him has been initiated.      

 

John H. Pinkerton, the Company’s President, commented, “I am delighted Jeff will be joining Range.  With his extensive technical background and management track record, he is the ideal person to become our Chief Operating Officer.  Having worked directly with our Chairman, Charlie Blackburn while at Maxus, we are confident Jeff will make a significant contribution to our future growth and profitability. 

 

With regard to Eddie LeBlanc’s resignation, we regret his loss.  Unfortunately, he simply received an outstanding opportunity, and we wish him well.  He leaves us with a strong accounting and financial organization that is quite capable of carrying on.  We are beginning to consider candidates to replace him.”   

 

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

                                                                                                                                               

2003-12

Contacts:          Rodney Waller, Senior Vice President                                                                           Karen Giles

(817) 870-2601

http://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.