UPDATE 1-Range Resources denies water contamination charges

* Says its drilling did not lead to contamination

* Says to work with regulators, residents to fix cause

Dec 8 (BestGrowthStock) – Range Resources Corp (RRC.N: ) denied U.S.
environmental regulator’s findings that its natural gas
drilling activities had contaminated the water aquifer in
Parker county in Texas.

The Environmental Protection Agency (EPA) said on Tuesday
that natural gas drilling by the company has contributed to the
contamination of at least two residential drinking water wells
in the county and ordered it to step in immediately.

“Based on our findings to date, it’s very clear that our
activities have not had any impact on the water aquifer in
southern Parker county or the subject water wells,” Range
Resources said in a statement.

The company said its investigations revealed that methane
in the aquifer existed long before its drilling and likely is a
naturally occurring migration from several shallow gas zones
immediately below the water aquifer.

Fort Worth, Texas-based Range Resources, however, said it
will work with regulators and residents to determine the cause
and to assist with any remediation.

In a bid to ease environmental concerns, Range Resources
had said in July it would disclose more data on the fluid it
uses to drill for gas in Pennsylvania. [ID:nN14126820]

Range Resources shares closed at $45.11 on Tuesday on the
New York Stock Exchange.
(Reporting by Krishna N Das in Bangalore; Editing by
Unnikrishnan Nair)

UPDATE 1-Range Resources denies water contamination charges