Fort Worth-based Range Resources said it lost $53.8 million in the third quarter, but after adjustments earnings amounted to 20 cents a share, above Wall Street's expectations of 18 cents. Range said production was up 47 percent to a record, while prices realized on oil and gas sales declined 24 percent. As a result, revenues from oil and gas sales rose 11 percent to $337 million. The company took a $58.4 million non-cash write-down on derivatives in the quarter, as well as a $40.1 million impairment charge to unproved properties. Range had $44 million in interest expenses, up 29 percent, and finished the quarter with $2.85 billion in long-term debt, up 44 percent from a year earlier.
-- Jim Fuquay