
Range Resources Corporation (Range Resources) is an independent energy company engaged in the exploration, development and acquisition of crude oil and natural gas assets in several regions of the US. The company's operations can be divided into four areas: Midcontinent, Marcellus shale, Appalachian and Southwest. The Midcontinent division consists of areas such as Mississippian, Cana-Woodford, St. Louis, Ardmore Woodford and Granite Wash, with a combined estimated resource potential of 6 to 9 trillion cubic feet equivalent (tcfe). The resource potential of its Marcellus shale assets are anticipated by the company to be 24 to 32tcfe and the areas included under the Marcellus division are the southwest and northeast areas. The other divisions have an expected combined resource potential of 14 to 19tcfe and these include areas such as Upper Devonian shale, Wolfcamp, Penn Shale, Avalon/Bone Springs, Berea, Big Lime and Huron Shale. As of December 2011, the company had a total reserve base of 842.3 MMboe, of which around 47.5% came from developed oil and gas reserves.