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Range Reports 36% Full-Year 2012 Production Growth

During the fourth quarter, Range increased its commodity hedge position. The Company currently has approximately 75% of its anticipated natural gas and crude oil production for 2013 hedged at a weighted average floor of $4.18 per Mmbtu and $94.36 per barrel, respectively. In addition, Range has 11,500 barrels of NGLs hedged above current market prices. Range’s updated hedge position is shown in the table below.

  Volumes  

Average
 

Average
Hedged

Floor Price

Cap Price
 

Natural Gas --

Mmbtu/day
 
2013 Gas Collars 280,000 $ 4.59 $ 5.05
2013 Gas Swaps 213,384 $ 3.65 -
 
2014 Gas Collars 385,000 $ 3.80 $ 4.48
 

Crude Oil --
Bbls/day
 
2013 Oil Collars 3,000 $ 90.60 $ 100.00
2013 Oil Swaps 5,081 $ 96.59 -
 
2014 Oil Collars 2,000 $ 85.55 $ 100.00
2014 Oil Swaps 4,000 $ 94.56 -
 

C5 Natural Gasoline --
Bbls/day
 
2013 Swaps 6,500 $ 2.13 -
 

C3 Propane --
Bbls/day
 
2013 Swaps 5,000 $ 0.94 -
 

The information in this release is unaudited. Audited and final results, including final fourth quarter 2012 product price realizations (including the impact of cash-settled hedges and derivative settlements) will be provided in our Annual Report on Form 10-K for the year ended December 31, 2012 currently planned to be filed with Securities and Exchange Commission by the end of February 2013.

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