NYSE:RRC$38.16-0.17
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Company Timeline

Company History

Range Resources Corporation was originally formed in 1976 as Lomak Petroleum Inc. The following is a timeline tracking our growth and evolution. Since 2000, we have pursued an organic growth strategy at low finding costs by exploiting a multi-decade inventory of drilling opportunities. We have been recognized as the pioneer of the Marcellus Shale and are one of the most active drillers in Pennsylvania. Since 1998, we have been traded on the New York Stock Exchange under the symbol “RRC”.

2015

  • Announced the signing of a definitive sales agreement to sell the company's Nora assets for a purchase price of $876 million.
  • Announced Washington County Marcellus well with a 24-hour production rate of 43.4 Mmcfe per day, which is a new record and the highest rate ever for any Marcellus well.

2014

  • Announced Utica/Point Pleasant 24-hour test rate of 59.0 Mmcf per day; We believe this is a record for anyhorizon drilled in the Appalachian Basin.
  • The American Shales book recognizes Range Resources as pioneers of the Marcellus Shale.
  • Sold our Conger assets in Glasscock and Sterling Counties, Texas in exchange for producing properties and other assets in Virginia and $145 million in cash
  • Announced additional ethane and natural gas transportation and sales contracts.
  • Range signed its first two LNG supply agreements subject to commencement of the projects. One of the agreements agreement is with an affiliate of Cheniere Energy, Inc to supply gas to the Sabine Pass LNG terminal on the Gulf Coast.

2013

  • Our net production reached one bcfe per day and averaged 940 Mmcfe per day for the year.
  • Marcellus Shale production averaged over 700 Mmcfe per day.
  • Sold Delaware and Permian Basin properties in southeast New Mexico and West Texas for $275 million.
  • At year-end 2013, reserves were 8.2 tcfe.

2012

  • Purchased 150 CNG trucks for our corporate fleet.
  • Our net acreage in the Horizontal Mississippian play in Northern Oklahoma grew to more than 158,000 net acres.
  • Announced new ethane and propane transportation and sales contracts.
  • Achieved seventh consecutive year of double-digit per share, debt adjusted, growth in both production and reserves.
  • Sold Ardmore Woodford properties in Southern Oklahoma for $135 million.
  • At year-end 2012, reserves were 6.5 tcfe.

2011

  • Sold our Barnett Shale properties for $889 million.
  • Marcellus Shale production ended the year at 400 Mmcfe per day.
  • Ninth consecutive year of production growth.
  • Sixth consecutive year of double digit per share growth in both production and reserves.
  • Northern Marcellus division began 100% water recycling in December 2011
  • Surpassed more than 1 million man hours worked in our Marcellus Shale divisions with no OSHA reportable incidents.
  • At year-end 2011, reserves were 5.1 tcfe.

2010

  • We became the first company to voluntarily disclose fracturing fluid additives on a per well basis.
  • Sold our tight gas sand properties in Ohio for $323 million.
  • Marcellus Shale production ended the year just over 200 Mmcfe per day.
  • Eighth consecutive year of production growth.
  • Achieved double digit per-share growth in both production and reserves.
  • At year-end 2010, reserves were 4.4 tcfe.

2009

  • Focused 90% of our capital spending on three key unconventional gas fields: the Barnett Shale in North Texas, the Nora field in Virginia and the Marcellus Shale in Pennsylvania.
  • Our net acreage in the Marcellus grew to more than 1.3 million acres and net production had reached slightly more than 100 Mmcfe per day.
  • Seventh consecutive year of production growth.
  • Sold West Texas properties for proceeds of $182 million.
  • Stock was the third best performing S&P 500 stock in our sector for the last decade.
  • At year-end 2009, reserves were 3.1 tcfe.

            2008

            • Net acreage in the Marcellus grew to more than 900,000 acres.
            • Brought in a major midstream partner, MarkWest Energy Partners, L.P. to construct the needed gathering and processing facilities in our Southern Marcellus division.
            • The Marcellus Southern division exited the year with a production rate of 35 Mmcfe per day.
            • Barnett Shale production had increased to 110 Mmcfe per day in the course of three years.
            • Net acreage in Nora increased to 300,000 acres.
            • Delivered 24 consecutive quarters of increasing production growth.
            • At year-end 2008, reserves were 2.7 tcfe.

            2007

            • Delivered 20 consecutive quarters of increasing production growth.
            • Range was added to the list of companies comprising the Standard & Poor’s (S&P) 500.
            • Opened an office in Pittsburgh, Pennsylvania to focus on the Marcellus Shale.
            • By the end of 2007, we had drilled five consecutive horizontal shale wells in the Marcellus Shale with commercial production rates ranging from 1.4 to 4.7 mmcfe per day.
            • Acquired additional interests in the Nora field of Virginia for $282 million.
            • Sold our high decline Gulf of Mexico properties for proceeds of $155 million.
            • At year-end 2007, reserves were 2.2 tcfe.