EXHIBIT 99.1

                                  NEWS RELEASE
                        RANGE TO EXCHANGE TRUST PREFERRED

FORT WORTH, TEXAS, SEPTEMBER 19, 2003 - RANGE RESOURCES CORPORATION (NYSE: RRC)
today announced that it has agreed to exchange $10.2 million in cash and $50
million of a new 5.9% convertible preferred stock (the "Convertible Preferred")
for $79.5 million of its outstanding 5.75% Trust Preferred. Closing of the
exchange is scheduled for next week. The Company will recognize a $17 million
pre-tax gain on the exchange ($11 million after tax) and its ongoing financing
costs will decrease by $1.3 million a year. After the exchange, only $1.4
million of the $120 million Trust Preferred that was originally issued will
remain outstanding.

The new Convertible Preferred will carry a 5.9% dividend payable quarterly, will
be convertible into common stock at $8.50 per share and will be perpetual,
having no redemption or sinking fund requirements. Beginning in September 2007,
the Company may, at its sole election, redeem the Convertible Preferred for cash
at 103%. In addition, beginning in September 2005, the Company may, at its sole
election, cause the Convertible Preferred to convert into common stock if, at
the time, the common stock has closed at $11.90 or higher for 20 of the previous
30 trading days.

John H. Pinkerton, President of Range, commented, "The exchange will decrease
debt 19%, increase equity 32% and reduce annual financing costs by $1.3 million.
The recent offering of 7.375% senior subordinated notes and the subsequent
redemption of the 8.75% notes coupled with this exchange reflects our plan of
continuing to reduce debt and simplify the balance sheet, while increasing
production and reserves through our balanced strategy of exploration and
development drilling coupled with complementary acquisitions."

Except for historical information, statements made in this release, including
those relating to anticipated debt reduction, and future growth in production
and reserves are forward-looking statements as defined by the Securities and
Exchange Commission. 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 closing
consummated, 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.

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


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                                                                        2003-21
Contact:  Rodney Waller, Senior Vice President
          Karen Giles
          (817) 870-2601
          www.rangeresources.com