Range Resources Corp. tacked on another multimillion-dollar royalty sale on Oct. 21 that brings total asset sales by the Appalachia shale producer to more than $1 billion.

Hit by low commodity prices, the Fort Worth, Texas-based company began divesting overriding royalties in its prized Appalachia leases roughly a year ago to strengthen its business.

On Oct. 21, Range CEO Jeff Ventura said the company had made “substantial progress” in reinforcing its financial strength. In addition to another sale of overriding royalty interest (ORRI), Range increased the committed level of its credit facility and launched a $100 million share buyback program.

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