UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 11-K

ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

(Mark one)

þ		Annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934

For the fiscal year ended December 31, 2007

o		Transition report pursuant to Section 15(d) of the Securities Exchange Act of 1934.

For the transition period from                     to                    

A.

Full title of the plan and address of the plan, if different from the issuer named below

RANGE RESOURCES CORPORATION 401 (k) PLAN

B.

Name of issuer of the securities held pursuant to the plan and address of its principle executive office

Range Resources Corporation
100 Throckmorton, Suite 1200
Fort Worth, Texas, 76012

 

 

TABLE OF CONTENTS

Report of Independent Auditors			F-1
Audited Financial Statements
Statements of Net Assets Available for Plan Benefits			F-2
Statements of Changes in Net Assets Available for Plan Benefits			F-3
Notes to Financial Statements			F-4
Supplemental Schedule -Form 5500 Schedule H, line 4i-Schedule of Assets Held for Investment Purposes at End-of-Year			F-12
Signatures			F-13
Exhibit Index			F-14
Exhibit 23- Consent of Independent Auditors
Exhibit 99.1- Certification of Periodic Reports
Consent of Independent Accountants
Certification Pursuant to Section 906

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Trustees of the
Range Resources Corporation 401(k) Plan

We have audited the accompanying statements of net assets available for benefits of the Range Resources Corporation 401(k) Plan as of December 31, 2007 and 2006 and the related statements of changes in net assets available for benefits for the years then ended. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. An audit includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Range Resources Corporation 401(k) Plan as of December 31, 2007 and 2006, and the changes in net assets available for benefits for the years then ended in conformity with accounting principles generally accepted in the United States of America.

Our audits were performed for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedule of Form 5500, Schedule H, Line 4i — Schedule of Assets (Held at End of Year) is presented for the purpose of additional analysis and is not a required part of the basic financial statements but is supplementary information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental schedule is the responsibility of the Plan’s management. The supplemental schedule has been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the financial statements taken as a whole.

/s/ Whitley Penn LLP

Fort Worth, Texas
June 25, 2008

RANGE RESOURCES CORPORATION 401(k) PLAN

STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS

		December 31,
		2007				2006
Assets
Investments, at fair value:
Shares of registered investment companies:
Mutual funds		$	28,435,483			$	25,708,063
Common collective trust			5,576,726				4,824,112
Range Resources common stock			31,753,333				17,399,013
Participant loans			791,137				693,631
Total investments at fair value			66,556,679				48,624,819
Participant contribution receivable			23,000				—
Employer contribution receivable			12,000				—
Other receivable			5,494				—
Total assets			66,597,173				48,624,819
Liabilities
Liability for excess contributions			46,862				48,478
Net assets available for benefits at fair value			66,550,311				48,576,341
Adjustment from fair value to contract value for interest in collective trust relating to fully benefit- responsive investment contracts			112,989				146,637
Net assets available for benefits		$	66,663,300			$	48,722,978

See accompanying notes to financial statements.

RANGE RESOURCES CORPORATION 401(k) PLAN

STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS

		Year Ended December 31,
		2007				2006
Additions to net assets
Investment income:
Net realized and unrealized gains on investments		$	13,404,479			$	2,168,765
Interest and dividends			2,883,785				1,530,220
Total investment income			16,288,264				3,698,985
Transfers from another plan			—				1,027,466
Contributions:
Non-cash:
Employer stock			1,309,758				1,074,982
Cash:
Participant			3,360,674				2,613,144
Employer match			997,759				789,895
Rollover and other			366,580				651,459
Total contributions			6,034,771				5,129,480
Total additions to net assets			22,323,035				9,855,931
Deductions from net assets
Benefits paid to participants			4,382,713				1,582,720
Net increase in net assets available for benefits			17,940,322				8,273,211
Net assets available for benefits at beginning of year			48,722,978				40,449,767
Net assets available for benefits at end of year		$	66,663,300			$	48,722,978

See accompanying notes to financial statements.

RANGE RESOURCES CORPORATION 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

December 31, 2007 and 2006

A. Description of the Plan

Plan Description

The following description of the Range Resources Corporation 401(k) Plan (the “Plan”) provides only general information. The Plan is sponsored by Range Resources Corporation (the “Company” or “Plan Sponsor”). Participants should refer to the plan agreement for a more complete description of the Plan’s provisions.

General

The Plan was established effective January 1, 1989 as a defined contribution plan covering employees of the Company who are eighteen years of age or older. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (“ERISA”).

On November 30, 2006, the Company merged the net assets of the Stroud Energy, Ltd. 401(k) Plan in the approximate amount of $1.0 million into the Plan. The assets of this plan have been recorded as “Transfers from another plan” in the accompanying statements of changes in net assets available for benefits.

The purpose of the Plan is to encourage employees to save and invest, systematically, a portion of their current compensation in order that they may have a source of additional income upon their retirement, or for their family in the event of death.

Contributions

Participants may contribute up to 50% of pre-tax annual compensation, as defined by the Plan. Contributions are subject to limitations on annual additions and other limitations imposed by the Internal Revenue Code (the “Code”) as defined in the plan agreement. Contributions were equal to 5.7% of each active participant’s eligible compensation in excess of the social security taxable wage base in 2007 and 2006.

Employees who are eligible to make salary deferral contributions under the Plan and who have attained age 50 before the close of the Plan year, are eligible for catch-up contributions in accordance with and subject to the limitations imposed by the Code.

Participants must be employed on the last day of the plan year, and complete 1,000 hours of service during the Plan year to be eligible to receive profit sharing contributions. Each year the Board of Directors determines the percentage of employee salaries that the Company will contribute as a profit sharing contribution. The Company made profit sharing contributions, in the form of Company stock, at the rate of 3% of eligible participants’ salary, which approximated $1,310,000 and $1,075,000 in 2007 and 2006, respectively.

RANGE RESOURCES CORPORATION 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

December 31, 2007 and 2006

A. Description of the Plan — continued

Contributions — continued

At the discretion of the Board of Directors, the Company may elect to contribute a matching contribution based on the amounts of salary deferrals of the participants. Effective January 1, 2005, the Company began making matching cash contributions to participant accounts. The cash match during both 2007 and 2006 was $0.50 on the dollar (per pay period) up to the first 6% of eligible participant contributions, which approximated $998,000 and $790,000 in 2007 and 2006, respectively.

Participant Accounts

Each participant’s account is credited with the participant’s elective contribution, employer contribution(s), and earnings thereon. Allocations are based on participant earnings or account balances as defined in the Plan. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account balance.

Vesting

Participants are immediately fully vested in their elective contributions plus actual earnings thereon. Vesting in the Company contribution portion of accounts plus actual earnings thereon is as follows:

		Vested
Years of Service		Percentage
Less than One (1) year			0	%
One (1) year			40	%
Two (2) years			80	%
Three (3) or more years			100	%

A year of service for vesting purposes is defined as a period in which a participant completes at least 1,000 hours of service.

Loans

Participants may borrow from their fund accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance. Loan terms range from one to five years or, in the case of a loan to acquire or construct the primary residence of a participant, a period not to exceed a repayment period used by commercial lenders for similar loans. The loans are secured by the balance in the participant’s account and bear interest at the prime rate plus 2.00%, as defined by the Participant Loan Program. Interest rates for 2007 and 2006, ranged from 4.00% to 10.25%. Principal and interest payments on loans are paid ratably through payroll deductions.

Benefit Payments

Participants withdrawing during the year for reasons of service or disability, retirement, death, or termination are entitled to their vested account balance. Benefits are distributed in the form of rollovers, lump sums, installment payments, or through the purchase of an annuity contract. If withdrawing participants are not entitled to their entire account balance, the unvested amounts not received are forfeited and

RANGE RESOURCES CORPORATION 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

December 31, 2007 and 2006

A. Description of the Plan — continued

reallocated to the remaining participants once it is assured that a break in service was incurred by the withdrawing participant. Disbursements for benefits are recorded when paid.

A participant may receive a hardship distribution from salary deferrals if the distribution is: (1) on account of uninsured medical expenses incurred by the participant, their spouse or dependents; (2) to purchase (excluding mortgage payments) a principal residence of the participant; (3) for the payment of post-secondary tuition expenses; (4) needed to prevent eviction of the participant from his or her principal residence or foreclosure upon the mortgage of the participant’s principal residence; (5) on account of funeral or burial expenses relating to the death of the participant’s deceased parent, spouse, child or dependant; or (6) on account of casualty expenses to repair damage to the participant’s principal residence.

Forfeitures

Forfeited balances of terminated participants’ non-vested accounts are reallocated to the account balances of the remaining participants.

Administrative Expenses

The Plan Sponsor pays administrative expenses of the Plan. The Plan Sponsor paid Plan expenses on behalf of the Plan of approximately $35,000 in 2007 and $22,000 in 2006.

B. Summary of Significant Accounting Policies

Basis of Accounting

The financial statements of the Plan are presented on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses. Actual results could differ from these estimates.

Investment Valuation and Income Recognition

The Plan’s investments are stated at fair value. Quoted market prices are used to value investments. Shares of mutual funds are valued at the net asset value of shares held by the Plan at year end. Participant loans are valued at their outstanding balances, which approximate fair value. The Plan’s interest in the collective trust is valued based on information reported by the investment advisor using the audited financial statements of the collective trust at year-end. For 2007 and 2006, the Range Resources Common Stock was valued using the quoted market prices for the Plan’s year-end. These investments are subject to market or credit risks customarily associated with equity investments.

RANGE RESOURCES CORPORATION 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

December 31, 2007 and 2006

B. Summary of Significant Accounting Policies — continued

Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net realized gains or loss on investments is the difference between the proceeds received upon the sale of investments and the market value of investments as of the end of the preceding year or the average cost of those assets if acquired during the current year.

Unrealized appreciation or depreciation of investments represents the increase or decrease in market value during the year.

As described in Financial Accounting Standards Board Staff Position, FSP AAG INV-1 and SOP 94-4-1, Reporting of Fully Benefit-Responsive Investment Contracts Held by Certain Investment Companies Subject to the AICPA Investment Company Guide and Defined-Contribution Health and Welfare and Pension Plans (the “FSP”), investment contracts held by a defined-contribution plan are required to be reported at fair value. However, contract value is the relevant measurement attribute for that portion of the net assets available for benefits of a defined-contribution plan attributable to fully benefit-responsive investment contracts because contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan. The plan invests in investment contracts through a common collective trust. The fair value of the investment in the common collective trusts is presented in the Statement of Net Assets Available for Benefits as well as the adjustment of the investment in the common collective trust from fair value to contract value. The Statement of Changes in Net Assets Available for Benefit is prepared on a contract value basis. As required, the Plan Sponsor retroactively adopted the FSP effective January 1, 2005.

RANGE RESOURCES CORPORATION 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

December 31, 2007 and 2006

B. Summary of Significant Accounting Policies — continued

Contributions

Contributions from participants and the Company are accrued in the period in which they are deducted in accordance with salary deferral agreements and as they become obligations of the Company, as determined by the Plan’s administrator.

Payment of Benefits

Benefits are recorded when paid.

Plan Expenses

Employees of the Company perform certain administrative functions with no compensation from the Plan. Administrative costs of the Plan are paid by the Company and are not reflected in the accompanying financial statements.

Impact of New Accounting Pronouncement

In September 2006, Statement of Financial Accounting Standards (“SFAS”) No. 157, Fair Value Measurements, was issued. SFAS No. 157 provides guidance for using fair value to measure assets and liabilities. It applies whenever other standards require or permit assets or liabilities to be measured at fair value but it does not expand the use of fair value in any new circumstances. In November 2007, the effective date was deferred for all non-financial assets and liabilities, except those that are recognized or disclosed at fair value on a recurring basis. The provisions of SFAS No. 157 that were not deferred are effective for financial statements issued for fiscal years beginning after November 15, 2007. The adoption of SFAS No. 157, effective January 1, 2008, did not have a significant effect on the reported net assets or changes in net assets.

C. Investments

Participants may direct their 401(k) salary deferrals to be invested into any of the twenty investment funds and one common collective trust offered by the Plan as well as Range Resources Corporation common stock.

Non-cash profit sharing contributions made in the form of the Company’s common stock, by the Company, can be redirected by participants into any of the twenty-one investment options offered by the Plan.

The following table presents the individual investments that exceeded 5% of the Plan’s net assets available for benefits at December 31:

RANGE RESOURCES CORPORATION 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

December 31, 2007 and 2006

C. Investments — continued

Description		2007
Range Resources common stock		$	31,753,333
American Funds- the Growth Fund of America — R3			6,578,809
DWS Stable Value Trust-Institutional Shares			5,576,726
DWS Dreman High Return Equity — A			3,773,900

Description		2006
Range Resources common stock		$	17,399,013
American Funds- the Growth Fund of America — R3			5,773,763
DWS Stable Value Trust-Institutional Shares			4,970,749
DWS Dreman High Return Equity — A			3,809,502
Oppenheimer Global Fund — Class N			2,697,161

Common stock of the Company represented approximately 48% of net assets available for benefits at December 31, 2007 compared to 36% of total net assets available for benefits at December 31, 2006.

During 2007 and 2006, the Composition of the Plan’s net realized and unrealized gains on investments was as follows:

		2007				2006
Mutual Funds		$	(1,473,228	)		$	1,511,431
Range Resources Common Stock			14,877,707				657,334
		$	13,404,479			$	2,168,765

D. Tax Status

The Plan has received a determination letter from the Internal Revenue Service (“IRS”) dated August 20, 2003, stating that the Plan is qualified under Section 401(a) of the Code and, therefore, the related trust is exempt from federal income taxation. The Plan has been amended since receiving the determination letter. The Company has adopted the Scudder Trust Company Prototype Defined Contribution Plan, which has been approved by the IRS for use by employers as a qualified plan. Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualification. The Company believes the Plan is being operated in compliance with the applicable requirements of the Code and, therefore, believes that the Plan is qualified and the related trust is tax exempt.

E. Forfeitures

At December 31, 2007 and 2006, the balance in the forfeiture account approximated $33,000 and $14,000, respectively. In 2007, there was approximately $14,000 of forfeitures reallocated to participants. In 2006, there was approximately $60,000 of forfeitures reallocated to participants.

RANGE RESOURCES CORPORATION 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

December 31, 2007 and 2006

F. Transactions with Parties-in-Interest

Participants have the option to invest their salary deferrals into the common stock of Range Resources Corporation, the Company. In addition, the Plan invests in shares of mutual funds managed by Scudder. These investments are selected by each participant and held in their account. Scudder acts as trustee for these investments as defined by the Plan. Transactions in such investments qualify as parties-in-interest transactions, which are exempt from the prohibited transaction rules.

G. Plan Termination

Although it has not expressed any intent to do so, the Company has the right to terminate the Plan at any time, subject to the provisions of ERISA. In the event of such termination of the Plan, participants would become fully vested and the net assets of the Plan would be distributed among the participants in accordance with ERISA and the Plan.

H. Plan Amendments

In 2006, the Plan adopted additional acceptable reasons for the purpose of a hardship distribution. These additional purposes include: funeral/burial expenses relating to the death of the participant’s parent, spouse, child or dependent and casualty expenses to repair damage to the participant’s principal residence.

A good faith amendment, which covers the enrollment, timing, withdrawal restrictions and other items, has been adopted by the Plan for plan years beginning on or after January 1, 2006. These comprehensive regulations cover the requirements (including the nondiscrimination requirements) for cash or deferred arrangements under Code Sec. 401(k) and matching contributions and employee contributions under Code Sec. 401(m).

I. Reconciliation of Financial Statements to Form 5500

The following is a reconciliation of net assets available for benefits as of December 31, 2007 and 2006, per the financial statements to the Form 5500:

		2007				2006
Net assets available for benefits per the financial statements		$	66,663,300			$	48,722,978
Liability for excess contributions			46,862				48,478
Adjustment from contract value to fair value for interest in collective trust relating to fully benefit-responsive investment contracts			(112,989	)			(146,637	)
Net assets available for benefits per the Form 5500		$	66,597,173			$	48,624,819

The reconciling items noted above are due to the difference in the method of accounting used in preparing the Form 5500 as compared to the Plan’s financial statements. The modified cash basis of accounting was used in preparing the Form 5500, whereas the Plan’s financial statements have been prepared on the accrual basis of accounting as required by accounting principles generally accepted in the United States of America.

RANGE RESOURCES CORPORATION 401(k) PLAN

NOTES TO FINANCIAL STATEMENTS

December 31, 2007 and 2006

J. Subsequent Events

Beginning January 1, 2008, the Company’s matching cash contributions will increase from $0.50 on the dollar up to the first 6% of eligible participant contributions to dollar-for-dollar on the first 6% of deferral. Vesting in the Company contribution portion will change to 50% after one year of service and 50% after two years of service. A Roth 401(k) option was added to the Plan where deferrals can be made with after-tax contributions and earnings grow tax-free.

RANGE RESOURCES CORPORATION 401(k) PLAN

FORM 5500, SCHEDULE H, LINE 4i, SCHEDULE OF ASSETS (HELD AT END OF YEAR)

December 31, 2007

EIN: 34-1312571

Plan: 002

		(b)		(c)
		Identity of Isuue,		Description of Investment, including				(e)
		Borrower or		Maturity Date, Rate of Interest,		(d)		Current
(a)		Similar Party		Collateral, Par or Maturity Value		Cost Value		Value
*		Range Resources Corp.		Common Stock		**		$	31,753,333
		American Funds		The Growth Fund of America - Class R3		**			6,579,809
*		DWS		Stable Value Trust - Institutional Shares		***			5,576,726
*		DWS		Dreman High Return Equity - A		**			3,773,900
		Oppenheimer		Global Fund - Class N		**			2,806,133
*		DWS		Mid Cap Growth Fund - Class A		**			2,134,672
*		DWS		Core Fixed Income Fund - Class A		**			2,038,648
*		DWS		Equity 500 Index Fund - Investment Class		**			1,970,028
*		DWS		Life Compass 2015 Fund		**			1,956,874
		Allianz		NFJ Small Cap Value - A		**			1,344,300
*		DWS		International Select Equity Fund - Class A		**			1,342,902
		Lord Abbett		Mid-Cap Value Fune - Class P		**			958,261
*		DWS		Value Builder Fund - Class A		**			886,879
*		DWS		RREEF Real Estate Securities Fund - Class A		**			693,045
		Alger		SMCP Growth Inst - R		**			431,728
*		DWS		Micro Cap Fund - Class A		**			425,473
*		DWS		Life Compass 2020 Fund		**			331,577
		Pimco		Real Return Fund - Class R		**			272,895
*		DWS		Life Compass Retirement Fund		**			202,915
*		DWS		Life Compass 2030 Fund		**			191,902
		Alliance Ber		International Value Fund - A		**			58,489
		Davis		New York Venture Fund - A		**			35,053
*		Participant loans		4% - 10.25% ; 1 - 5 years		-0-			791,137
								$	66,556,679

RANGE RESOURCES CORPORATION 401(k) PLAN

SIGNATURE

The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustee has duly caused this annual report to be signed on their behalf by the undersigned hereunto duly authorized.

RANGE RESOURCES CORPORATION 401(k) PLAN

Exhibit Index

NUMBER		Exhibit
23*		Consent of independent accountants
99.1*		Certification of the December 31, 2007 Annual Report on Form 11-K, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, by the Principal Executive Officer and Principal Financial Officer of the Plan.