Range Resources Corp was incorporated in the State of Delaware on March 26, 1980. The Company is a Texas-based independent natural gas, natural gas liquids and oil company. The Company is engaged in the exploration, development and acquisition of natural gas and oil properties in the Appalachian region of the United States. The Company properties consist of interests in developed and undeveloped natural gas and oil leases in the Appalachian region of the United States, in the Marcellus Shale in Pennsylvania. It also drills for and produces natural gas, NGLs, crude oil and condensate from areas. The Company's Appalachian Region, produce from the Marcellus Shale, Pennsylvanian, Berea, Big Lime, Huron Shale, Medina and Upper Devonian formations at depths ranging from approximately 3,500 feet to 11,500 feet. It owns approximately 4,462 net producing wells. The Company's other operations include drilling, production and field operations in the Texas Panhandle, as well as in the Anadarko Basin of western Oklahoma, the Nemaha Uplift of Northern Oklahoma and Kansas, the Permian Basin of West Texas and Mississippi. It owns approximately 444 net producing wells in these locations. The Company faces competition in developing and acquiring natural gas and oil properties, securing and retaining personnel, conducting drilling and field operations and marketing production. It has its competitors in exploration, development, acquisitions and production include the major oil and gas companies as well as numerous independent oil and gas companies, individual proprietors and others. The Company markets the majority of its oil and gas production from the properties it operates for both its interest and that of the other working interest owners and royalty owners. It sells its gas pursuant to a variety of contractual arrangements, generally month-to-month and one to five-year contracts. The Company's operations are substantially affected by federal, state and local laws and regulations.
Benzinga is a fast-growing, dynamic and innovative financial media outlet that empowers investors with high-quality, unique content.