Natural gas company Range Resources Corp said it will sell almost all of its Barnett Shale properties to a private company for $900 million, and forecast a production growth of 10 percent for this year. The sale will allow Range Resources to focus more on the Marcellus Shale play, where it plans to spend most of its capital budget. The company has set a capital budget of $1.38 billion for 2011. The sale proceeds will also be used to fund its short-term capital needs.
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