Exhibit 10.4
EXECUTION VERSION
THIRD AMENDMENT TO
THIRD AMENDED AND RESTATED CREDIT AGREEMENT
     THIS THIRD AMENDMENT TO THIRD AMENDED AND RESTATED CREDIT AGREEMENT (this
“Amendment”) is entered into as of October 22, 2007, by and among RANGE
RESOURCES CORPORATION, a Delaware corporation (“Borrower”), certain Subsidiaries
of Borrower as Guarantors, JPMORGAN CHASE BANK, N.A., a national banking
association, as Administrative Agent for the Lenders (in such capacity,
“Administrative Agent”), and each of the Lenders which is a party to the Credit
Agreement (defined below).
WITNESSETH:
     WHEREAS, Borrower, Guarantors, Administrative Agent and the Lenders entered
into that certain Third Amended and Restated Credit Agreement dated as of
October 25, 2006 (as amended by that certain First Amendment to Third Amended
and Restated Credit Agreement dated March 12, 2007, as further amended by that
certain Second Amendment to Third Amended and Restated Credit Agreement dated as
of March 26, 2007, and as further amended, modified and restated from time to
time, the “Credit Agreement”), pursuant to which the Lenders made a revolving
credit facility available to Borrower; and
     WHEREAS, Borrower has requested that Administrative Agent and the Lenders
amend the Credit Agreement (a) to permit the Borrower to incur additional
unsecured subordinated Indebtedness in the aggregate amount of $250,000,000 on
terms and conditions substantially similar to the Senior Subordinated Notes
outstanding on the date hereof, (b) to increase the Maximum Facility Amount to
$1,500,000,000, (c) to extend the Maturity Date until October 25, 2012, and
(d) for certain other purposes as provided herein, and Administrative Agent and
the Lenders have agreed to do so on the terms and conditions hereinafter set
forth.
     NOW, THEREFORE, the parties agree to amend the Credit Agreement as follows:
     1. Definitions. Unless otherwise defined herein, all capitalized terms used
herein shall have the same meanings ascribed to such terms in the Credit
Agreement.
     2. Amendments to Credit Agreement.
     2.1 Amended Definitions. The following definitions set forth in
Section 1.01 of the Credit Agreement shall be and they hereby are amended in
their respective entireties to read as follows:
“Maturity Date” means October 25, 2012.
“Maximum Facility Amount” means $1,500,000,000.
“Senior Subordinated Notes” means (i) the 7 3/8% Senior Subordinated Notes due
2013, issued pursuant to the Indenture, (ii) the 6 3/8% Senior Subordinated
Notes due 2015, issued pursuant to the Indenture, (iii) the 71/2% Senior
Subordinated Notes due 2016, issued pursuant to the Indenture, and (iv)
THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT

 

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additional senior unsecured subordinated notes issued after the Second Amendment
Effective Date and prior to May 1, 2008 that have a scheduled maturity no
earlier than six months after the Maturity Date and are on substantially the
same terms and conditions, including the subordination terms, as the Indenture.
     2.3 Financial Statements; Other Information. Section 6.01(e) of the Credit
Agreement shall be and it hereby is amended in its entirety to read as follows:
     (e) together with the Reserve Reports required under clause (d) above, a
report, in reasonable detail, setting forth the Swap Agreements then in effect,
the notional volumes of and prices for, on a monthly basis and in the aggregate,
the Crude Oil and Natural Gas for each such Swap Agreement and the term of each
such Swap Agreement;
     2.4 Indebtedness Under the Senior Subordinated Notes. Section 7.01(h) of
the Credit Agreement shall be and it hereby is amended to read in its entirety
as follows:
     (h) Indebtedness under the Senior Subordinated Notes in an aggregate
principal amount not exceeding $1,100,000,000 at any time outstanding and
extensions, renewals, replacements and refinancing of any such Indebtedness that
does not exceed the maximum principal amount permitted under this clause (h) as
of the date of such extension, renewal, replacement or refinancing; provided
that any documentation which replaces the Senior Subordinated Notes and pursuant
to which the Senior Subordinated Notes are refinanced does not contain, either
initially or by amendment or other modification, any material terms, conditions,
covenants or defaults other than those which then exist in the Indenture and the
Senior Subordinated Notes or which could be included in the Indenture or the
Senior Subordinated Notes by an amendment or other modification that would not
be prohibited by the terms of this Agreement; and
     3. Redetermined Borrowing Base. This Amendment shall constitute a notice of
the redetermination of the Borrowing Base pursuant to Section 3.04 of the Credit
Agreement and Administrative Agent hereby notifies Borrower that, as of the
Third Amendment Effective Date, the redetermined Borrowing Base is
$1,500,000,000 until the next redetermination of the Borrowing Base pursuant to
Article III of the Credit Agreement.
     4. Binding Effect. Except to the extent its provisions are specifically
amended, modified or superseded by this Amendment, the Credit Agreement, as
amended, and all terms and provisions thereof shall remain in full force and
effect, and the same in all respects are confirmed and approved by the Borrower
and the Lenders.
THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT

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     5. Third Amendment Effective Date. This Amendment shall be effective upon
the satisfaction of the conditions precedent set forth in Section 6 hereof (the
“Third Amendment Effective Date”).
     6. Conditions Precedent. The obligations of Administrative Agent and the
Lenders under this Amendment shall be subject to the following conditions
precedent:
               (a) Execution and Delivery. Borrower and each Guarantor shall
have executed and delivered this Amendment to Administrative Agent;
               (b) Payment of Fee. Borrower shall have paid to Administrative
Agent, for the ratable benefit of the Lenders, a fully earned and nonrefundable
fee in an amount equal to 0.05% of the Aggregate Commitment.
               (c) Representations and Warranties. The representations and
warranties of the Credit Parties under this Amendment are true and correct in
all material respects as of such date, as if then made (except to the extent
that such representations and warranties relate solely to an earlier date);
               (d) No Default. No Default shall have occurred and be continuing;
               (e) Other Documents. The Administrative Agent shall have received
such other instruments and documents incidental and appropriate to the
transaction provided for herein as the Administrative Agent or its counsel may
reasonably request, and all such documents shall be in form and substance
satisfactory to the Administrative Agent.
     7. Representations and Warranties. Each Credit Party hereby represents and
warrants that (a) except to the extent that any such representations and
warranties expressly relate to an earlier date, all of the representations and
warranties contained in the Credit Agreement and in each Loan Document are true
and correct as of the date hereof after giving effect to this Amendment, (b) the
execution, delivery and performance by such Credit Party of this Amendment have
been duly authorized by all necessary corporate, limited liability company or
partnership action required on its part, and this Amendment and the Credit
Agreement are the legal, valid and binding obligations of such Credit Party,
enforceable against such Credit Party in accordance with their terms, except as
their enforceability may be affected by the effect of bankruptcy, insolvency,
reorganization, moratorium or other similar laws now or hereafter in effect
relating to or affecting the rights or remedies of creditors generally, and
(c) no Default or Event of Default has occurred and is continuing.
     8. Counterparts. This Amendment may be executed in one or more counterparts
and by different parties hereto in separate counterparts each of which when so
executed and delivered shall be deemed an original, but all such counterparts
together shall constitute but one and the same instrument; signature pages may
be detached from multiple separate counterparts and attached to a single
counterpart so that all signature pages are physically attached to the same
document. However, this Amendment shall bind no party until the Borrower, the
Lenders, and the Administrative Agent have executed a counterpart. Delivery of
photocopies of
THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT

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the signature pages to this Amendment by facsimile or electronic mail shall be
effective as delivery of manually executed counterparts of this Amendment.
     9. WRITTEN CREDIT AGREEMENT. THE CREDIT AGREEMENT, AS AMENDED BY THIS
AMENDMENT AND TOGETHER WITH THE OTHER LOAN DOCUMENTS, REPRESENTS THE FINAL
AGREEMENT BETWEEN AND AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE
OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE
ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN AND AMONG THE PARTIES.
     10. Guarantors. The Guarantors hereby consent to the execution of this
Amendment by the Borrower and reaffirm their guaranties of all of the
obligations of the Borrower to the Lenders. Borrower and Guarantors acknowledge
and agree that the renewal, extension and amendment of the Credit Agreement
shall not be considered a novation of account or new contract but that all
existing rights, titles, powers, and estates in favor of the Lenders constitute
valid and existing obligations in favor of the Lenders. Borrower and Guarantors
each confirm and agree that (a) neither the execution of this Amendment or any
other Loan Document nor the consummation of the transactions described herein
and therein shall in any way effect, impair or limit the covenants, liabilities,
obligations and duties of the Borrower and the Guarantors under the Loan
Documents, and (b) the obligations evidenced and secured by the Loan Documents
continue in full force and effect. Each Guarantor hereby further confirms that
it unconditionally guarantees to the extent set forth in the Credit Agreement
the due and punctual payment and performance of any and all amounts and
obligations owed to the Lenders under the Credit Agreement or the other Loan
Documents.
[Remainder of page blank. Signature pages follow]
THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT

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     IN WITNESS WHEREOF, the parties have caused this Amendment to the Credit
Agreement to be duly executed as of the date first above written.

            BORROWER:

RANGE RESOURCES CORPORATION
      By:   /s/ ROGER S. MANNY       Roger S. Manny, Senior Vice President     
          GUARANTORS:

RANGE ENERGY I, INC.
RANGE HOLDCO, INC.
RANGE PRODUCTION COMPANY
RANGE ENERGY VENTURES CORPORATION
GULFSTAR ENERGY, INC.
RANGE ENERGY FINANCE CORPORATION
PMOG HOLDINGS, INC.
PINE MOUNTAIN ACQUISITION, INC.
PINE MOUNTAIN OIL AND GAS, INC.
RANGE OPERATING NEW MEXICO, INC.
RANGE OPERATING TEXAS, LLC
STROUD ENERGY GP, LLC
STROUD ENERGY MANAGEMENT GP, LLC
      By:   /s/ ROGER S. MANNY       Roger S. Manny, Senior Vice President of
all of        the foregoing Credit Parties   

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT

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            GREAT LAKES ENERGY PARTNERS, L.L.C
      By:   RANGE HOLDCO, INC., Its member
RANGE ENERGY I, INC., Its member           By:   /s/ ROGER S. MANNY       Roger
S. Manny, Senior Vice President of each of the foregoing members             
RANGE PRODUCTION I, L.P.,
      By:   RANGE PRODUCTION COMPANY, Its general partner              By:   /s/
ROGER S. MANNY       Roger S. Manny, Senior Vice President              RANGE
RESOURCES, L.L.C.
      By:   RANGE PRODUCTION COMPANY, Its member
RANGE HOLDCO, INC., Its member              By:   /s/ ROGER S. MANNY       Roger
S. Manny, Senior Vice President of each of the foregoing members               
STROUD ENERGY LP, LLC,
      By:   Range Operating, Texas, LLC, Its Member                   By:   /s/
ROGER S. MANNY       Roger S. Manny, Senior Vice President           

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT
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            STROUD ENERGY, LTD.,
      By:   Stroud Energy Management GP, LLC, Its general partner          
By:   /s/ ROGER S. MANNY       Roger S. Manny, Senior Vice President        
STROUD OIL PROPERTIES, L.P.,
      By:   Stroud Energy GP, LLC, Its general partner                   By:  
/s/ ROGER S. MANNY       Roger S. Manny, Senior Vice President           

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT
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            RANGE TEXAS PRODUCTION, L.L.C.
      By:   Range Energy I, Inc., Its Member            By:   /s/ ROGER S. MANNY
      Roger S. Manny, Senior Vice President                REVC HOLDCO, LLC

Range Resources Corporation, Its member
            By:   /s/ ROGER S. MANNY       Roger S. Manny, Senior Vice President
           

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT
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            JPMORGAN CHASE BANK, N.A., (successor by merger to Bank One, N.A.
(Illinois) as Administrative Agent and a Lender
      By:   /s/ WM. MARK CRANMER       Wm. Mark Cranmer, Senior Vice President 
         

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT
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            BANK OF SCOTLAND, as a Lender
      By:   /s/  Karen Weich       Name:           Title:   Vice President  

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT
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            CALYON NEW YORK BRANCH, as a Syndicated Agent and a Lender
      By:   /s/  Tom Byargeon       Name:           Title:    Manging Director  
          By:   /s/  Sharada Manne       Name:           Title:   Vice President

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT
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            COMPASS BANK, as a Lender
      By:   /s/ Adrianne D. Griffin       Name:           Title:   Vice
President  

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT
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            BANK OF AMERICA, N.A., as a Documentation Agent and a Lender
      By:   /s/ Jeffrey H. Rathkamp       Name:           Title:   Managing
Director  

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT
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            FORTIS CAPITAL CORP., as a Documentation Agent and a Lender
      By:   /s/ Michele Jones       Name:           Title:   Director          
  By:   /s/ Darrell Holley       Name:           Title:   Managing Director  

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT
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            NATIXIS (formerly Natexis Banques Populaires), as a
Lender
      By:     /s/      Donovan C. Broussard       Name:           Title:  
Managing Director             By:     /s/      Louis P. Laville, III      
Name:           Title:   Managing Director     

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT
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            COMERICA BANK, as a Lender
      By:     /s/      Peter L. Sefzik       Name:           Title:   Vice
President     

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT

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            CAPITAL ONE, N.A. (f/k/a Hibernia National Bank), as a Lender
      By:     /s/      Stan G. Weiser Jr.       Name:           Title:   Vice
President     

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT

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            AMEGY BANK N.A. (f/k/a Southwest Bank of Texas N.A.), as a Lender
      By:    /s/  W. Bryan Chapman       Name:           Title:   Senior Vice
President    

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT

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            BMO CAPITAL MARKETS FINANCING, INC.
(f/k/a HARRIS NESBITT FINANCING, INC.),
as a Syndication Agent and a Lender
      By:   /s/  James V. Ducote       Name:           Title:   Director    

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT

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            KEY BANK, as a Lender
      By:   /s/   Lawrence A. Mack       Name:           Title:   Executive Vice
President    

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT

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            WACHOVIA BANK, NATIONAL ASSOCIATION,
as a Lender
      By:   /s/ Shannan Townsend       Name:           Title: Director      

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT

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            UNION BANK OF CALIFORNIA, N.A.,
as a Lender
      By:   /s/ Alison Fuqua       Name:           Title: Assistant Vice
President               By:   /s/ Timothy Brendel       Name:          
Title: Investment Banking Officer      

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT

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            THE BANK OF NOVA SCOTIA, as a Lender
      By:   /s/ Andrew Ostrov       Name:           Title:   Director    

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT

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            THE FROST NATIONAL BANK, as a Lender
      By:   /s/ John S. Warren       Name:           Title:   Senior Vice
President    

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT

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            CITIBANK, N.A., as a Lender
      By:   /s/ David E. Hunt       Name:   David E. Hunt       Title:  
Attorney-in-Fact    

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT

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            CREDIT SUISSE, Cayman Islands Branch,
as a Lender
      By:   /s/ Vanessa Gomez       Name:           Title:   Vice President    
        By:   /s/ Morenikeji Ajayi       Name:           Title:   Associate    

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT

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            SUNTRUST BANK, as a Lender
      By:   /s/ Sean Roche       Name:           Title:   Vice President    

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT

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            SOCIÉTÉ GÉNÉRALE, as a Lender
      By:   /s/ Elena Robciuc       Name:   Elena Robciuc       Title:  
Director    

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT

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            U.S. BANK NATIONAL ASSOCIATION,
as a Lender
      By:   /s/ Daria Mahoney       Name:           Title:   Vice President    

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT

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            DEUTSCHE BANK TRUST COMPANY AMERICAS, as a Lender
      By:   /s/ Omayra Laucella       Name:           Title:   Vice President  
          By:   /s/ Dusan Lazarov       Name:           Title:   Vice President
   

THIRD AMENDMENT TO THIRD AMENDED
AND RESTATED CREDIT AGREEMENT

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