Document:

<PAGE>   1
                                                                    Exhibit 10.2

                              GAS PURCHASE CONTRACT

                   BETWEEN RANGE PRODUCTION I, L.P. AS SELLER

                            AND CONOCO INC. AS BUYER

                               DATED JULY 1, 2000

                                       58
<PAGE>   2
                              GAS PURCHASE CONTRACT
                   BETWEEN RANGE PRODUCTION I, L.P. AS SELLER
                            AND CONOCO INC. AS BUYER
                               DATED JULY 1, 2000.
                                      INDEX

<TABLE>
<CAPTION>
PARAGRAPH
---------
<S>                                                                         <C>
1.     COMMITMENT ........................................................     1

2.     POINTS OF DELIVERY ................................................     1

3.     DELIVERY PRESSURE AND QUANTITY ....................................     1

4.     PRICE .............................................................     2

5.     TERM ..............................................................     5

6.     ADDRESSES AND NOTICES .............................................     5

7.     UNPROFITABILITY ...................................................     6

                     EXHIBIT A GENERAL TERMS AND CONDITIONS

A.     DEFINITIONS .......................................................     8

B      DELIVERY DATE .....................................................    10

C.     RESERVATIONS OF SELLER ............................................    11

D.     METERING ..........................................................    12

E.     DETERMINATION OF GAS COMPOSITION ..................................    14

F.     QUALITY OF GAS ....................................................    14

G.     BILLING AND PAYMENT ...............................................    15

H.     FORCE MAJEURE .....................................................    16

I.     TITLE, OWNERSHIP ..................................................    17

J.     ROYALTY ...........................................................    17

K.     SEVERANCE AND SIMILAR TAXES .......................................    17

L.     LAWS AND REGULATIONS ..............................................    17

M.     RIGHT OF WAY AND INGRESS, EGRESS ..................................    18

N.     ASSIGNMENT ........................................................    18

O.     MISCELLANEOUS PROVISIONS ..........................................    18
</TABLE>

EXHIBIT B  DEDICATION DESCRIPTION

EXHIBIT C  SAMPLE ALLOCATION AND SETTLEMENT CALCULATIONS

                                       59
<PAGE>   3
                              GAS PURCHASE CONTRACT

This Contract is entered as of July 1, 2000 between RANGE PRODUCTION I, L.P.
("Seller") and Conoco Inc. ("Buyer") and becomes effective July 1, 2000.

For and in consideration of the mutual covenants contained herein, the parties
agree as follows:

COMMITMENT.
Seller agrees to sell and Buyer agrees to purchase all of the legally produced
gas from wells now or hereafter located on all oil and gas leasehold interests
now or hereafter owned or operated by Seller on or allocated to the following
lands in Glasscock and Sterling Counties, Texas, to wit:

AS OUTLINED IN EXHIBIT B ATTACHED HERETO AND MADE A PART HEREOF BY REFERENCE
HEREIN.

The General Terms and Conditions, which are a part of this Contract, are
attached as Exhibit A and incorporated by reference.

POINTS OF DELIVERY.
The Points of Delivery of gas to be delivered by Seller to Buyer for existing
sources of production shall be at the inlet flange of Buyer's meters at mutually
agreed locations at or near the inlet of Buyer's a) North Conger compression
facilities in the NE/4 Section 10, Block 22, H&TC RR Survey, Sterling County,
TX; b) Middle Conger compression facilities in the N/2 Section 30, Block 13,
SPRR Survey, Sterling County, TX; c) South Conger compression facilities in the
N/2 Section 7, Block 21, H&TC RR Survey, Sterling County, TX; d) Ray Glass
measurement facilities in the N/2 Section 2, T&P RR Survey Block 31, T-5-S,
Sterling County, TX; and (e) Grigsby Glass measurement facilities S/2 NW/4
Section 2, Block 32 T&P RR Survey Township 5S, Glasscock County, Texas. The
Point(s) of Delivery for future sources of production will be established under
Exhibit A, Paragraph B.2. Title to the gas and all its components shall pass to
and vest in Buyer at the inlet flange of Buyer's meter at the Points of
Delivery.

DELIVERY PRESSURE AND QUANTITY.

(a)      The gas shall be delivered by Seller at the Points of Delivery at a
         pressure sufficient to enable it to enter Buyer's Facilities against
         the working pressure at reasonably uniform rates of delivery. Buyer
         will maintain a Working Pressure (Exhibit A, Para. A.2) at Points (d)
         and (e) described in Paragraph 2 no greater than 1,200 psig. Buyer will
         maintain a Working Pressure for Points (a), (b) and (c) described in
         Paragraph 2 at no greater than thirty-five (35) psig during any Day.
         Days during which the Working Pressure for a Point of Delivery exceeds
         the limits set out herein are referred to as "Excess Pressure Days". In
         order to provide for normal maintenance and repairs, Buyer shall be
         allowed up to three consecutive Excess Pressure Days per event.
         Additionally, Buyer will be allowed up to 21 consecutive Excess
         Pressure Days for each compressor or engine overhaul or replacement.

(b)      Except as otherwise herein provided, it is understood and agreed that
         Buyer will take and purchase one hundred percent (100%) of the gas
         produced and made available for sale at the Point(s) of Delivery by
         Seller. Except for reasons of force majeure (Exhibit A, Para. H), in
         the event that a greater number of Excess Pressure Days occur during a
         Month at Points (a), (b) or (c) than allowed in Paragraph 3(a) and in
         Exhibit A, Paragraph B.2, Buyer agrees to compensate Seller for excess
         delivery pressures as provided in Paragraph 3(c) herein.

(c)      During any Month when the number of Excess Pressure Days exceed the
         allowed number of Excess Pressures Days, Buyer shall waive the
         $0.265/Mcf fee deducted from settlements due Seller under Paragraph 4.4
         for the volume (in Mcf) delivered to the affected Point(s) of Delivery
         for days during which the Working Pressure exceeded 35 psig, excluding
         exempt days. In order to implement the fee waiver pursuant to this
         paragraph, Seller must notify Buyer in writing within 45 days after the
         Month in which the

                                       60
<PAGE>   4
         allowed number of Excess Pressure Days was exceeded. Buyer will
         investigate Seller's claim and make appropriate adjustment to Seller's
         payment, without interest, within 30 days of Buyer's receipt of
         Seller's notice. If Buyer has not received notice of excessive Excess
         Pressure Days within 45 days after the Month in which they are alleged
         to have occurred, no waiver or adjustment will the required.

(d)      Seller may dispose of gas not taken during events of force majeure,
         subject to Buyer's right to resume purchases at any subsequent time,
         provided however, that Seller may, upon thirty (30) days written notice
         to Buyer, release from this Contract any gas that has not been taken
         for thirty (30) days by Buyer. In the event Buyer does not take gas for
         fifteen (15) consecutive days and Seller secures a different temporary
         market, Buyer may resume purchases only upon sixty (60) days' advance
         written notice as of the beginning of a Month unless otherwise agreed.

PRICE.
CONSIDERATION.
As full consideration for the gas and all its components delivered to Buyer each
Month, Buyer shall pay Seller (a) ninety percent (90%) of the Residue Gas
Proceeds as determined under Paragraph 4.2 below from the sale of Residue Gas
Allocated to Seller, and (b) ninety percent (90%) of the NGL Proceeds determined
under Paragraph 4.3 below from the sale of any NGL's Allocable to Seller.

RESIDUE GAS PROCEEDS.
(a)      The Residue Gas Proceeds shall be determined by multiplying the MMBtu's
         of Residue Gas Allocable to Seller times the Index price published in
         Inside F.E.R.C.'s Gas Market Report for gas delivered to pipe at the
         Houston Ship Channel/Beaumont, Texas (Large Packages) less $.10/MMBtu.

(b)      Each 12-Month period beginning on November 1 during the term of this
         Contract is herein referred to as a "Pricing Period". Effective with
         the Pricing Period beginning November 1, 2000 and annually thereafter,
         either party shall have the right to require a redetermination of the
         price to be used in calculating the Residue Gas Proceeds payable to
         Seller pursuant to Paragraph 4.1. Such redetermination shall be
         requested by written notice to the other party no later than September
         1 prior to the Pricing Period for which the redetermined price is to be
         effective. The parties will then negotiate in good faith to agree upon
         a replacement price for the calculation of Residue Gas Proceeds
         hereunder. If the parties have not agreed to a redetermined price for
         such calculation by October 1, then Seller will take delivery in kind
         of 90 percent of the Residue Gas Allocated to Seller, as provided in
         Paragraph 4.6 below, during the following Pricing Period. During any
         Pricing Period when Seller is taking its share of Residue Gas in kind,
         Buyer will notify Seller by September 1 of the price that Buyer is
         willing to offer in calculating Residue Gas Proceeds during the
         subsequent Pricing Period, and Seller will have the option for such
         subsequent Pricing Period either to accept the redetermined price
         offered by Buyer or to continue taking its share of Residue Gas in
         kind.

NGL PROCEEDS.
NGL Proceeds from the sale of NGL's Allocable to Seller shall be determined by
multiplying the quantity of each NGL component allocable to Seller's gas by the
Average Price per gallon for each NGL component. The term "Average Price" as to
each NGL component shall mean the simple average of the daily average spot
prices (non-TET) for (i) purity ethane, (ii) propane, (iii) iso-butane, (iv)
normal butane, and (v) the pentanes and heavier during the Month as reported for
Mt. Belvieu, Texas by the Oil Price Information Service (or in its absence, a
comparable mutually agreed successor publication) less all actual expenses, fees
and adjustments incurred by Buyer in connection with the delivery,
transportation, fractionation and sale of such NGL's ("T&F costs"), which
equaled $0.0368 per gallon as of November 1999. Notwithstanding the foregoing,
the parties agree that from the effective date through November 30, 2000, the
T&F costs for NGL's Allocable to Seller will be $0.02848 per gallon.

                                       61
<PAGE>   5
COMPRESSION, GATHERING AND FACILITIES USE FEE.
(a)      The payment for gas delivered at Points (a), (b) and (c) described in
         Paragraph 2 as computed under Paragraphs 4.1, 4.2, and 4.3 shall be
         reduced by twenty-six and one half cents per Point of Delivery Mcf
         ($0.265/Mcf), hereinafter the "Compression, Gathering and Facilities
         Use Fee". Said Compression, Gathering and Facilities Use Fee shall
         remain unchanged from the effective date of this Contract though
         calendar year 2003. Effective January 1, 2004, and each January 1
         thereafter, the Compression, Gathering and Facilities Use Fee will be
         adjusted as provided in Paragraph 4.4(b). This will be the total of all
         charges reimbursed to Buyer to transport gas from the Point(s) of
         Delivery to Buyer's plant and to process Seller's gas delivered.

(b)      For calendar year 2004 and each calendar year thereafter, the
         Compression, Gathering and Facilities Use Fee set out in 4.4(a) will be
         multiplied by a fraction, the numerator of which will be the Consumer
         Price Index for All Urban Consumers ("CPI") for January of such
         calendar year and the denominator of which will be the CPI for January
         2000.

ALLOCATION OF RESIDUE GAS AND NGL'S.
Buyer will determine the Residue Gas and NGL's Allocable to Seller for each
component by using the calculations and definitions stated in Exhibit A,
Paragraphs A(10) A(11) and A(12). The calculations and definitions of Paragraph
4 and Exhibit A, Paragraphs A(10) A(11) and A(12), are illustrated in Exhibit C.
To the extent Exhibit C conflicts with this Agreement, then the terms and
conditions of this Agreement shall prevail.

RESIDUE GAS TAKEN IN KIND
(a)      During any Pricing Period in which Seller takes its Residue Gas in
         kind, Buyer will redeliver for Seller's account a quantity of gas (in
         MMBtu) equal to 90 percent of the Residue Gas Allocable to Seller at a
         Redelivery Point designated by Seller, provided that Seller must comply
         with the residue pipelines' nomination requirements. The Redelivery
         Point will be the interconnection of Buyer's tailgate facilities with
         the pipeline facilities of PG&E Transmission Company/Texas Utility Fuel
         Company or Lone Star Gas Company at the tailgate of Buyer's plant(s) in
         Sterling County, Texas, unless Buyer has shut down its plants in
         Sterling County and Seller's gas is being processed at another plant.
         If gas is being processed in a plant outside of Sterling County, the
         Redelivery Point will be the interconnection of the tailgate facilities
         of said plant with the residue pipelines available at said plant.
         Seller's Redelivered gas shall be of merchantable quality without
         requiring additional treatment.

(b)      During any Month that Seller takes Residue Gas in kind, then the
         parties shall cooperate to the extent operationally practical to
         eliminate any imbalance(s) between the quantity of Residue Gas that
         Seller is entitled to receive and the quantity actually delivered for
         Seller's account at the Redelivery Point by subsequent adjustments in
         gas nominations, confirmations and/or physical receipts and deliveries.
         Any imbalances remaining at the end of each Month shall be eliminated
         by cash payment for the entire amount of the imbalance as follows:

         (i)      If Seller has received more Residue Gas at the Redelivery
                  Point than due to Seller and such imbalance is not solely the
                  fault of Buyer:

                  (A)      Seller shall pay Buyer the Average Daily Index Price
                           for that portion of the imbalance which does not
                           exceed 5% of the quantity due Seller; and

                  (B)      Seller shall pay Buyer 105% of the Average Daily
                           Index Price for that portion of the imbalance, if
                           any, which exceeds 5% of the quantity due Seller, but
                           is not in excess of 10% of such quantity; and

                  (C)      Seller shall pay Buyer 110% of the Average Daily
                           Index Price for that portion of the imbalance, if
                           any, which exceeds 10% of the quantity due Seller,
                           but is not in excess of 20% of such quantity, and

                  (D)      Seller shall pay Buyer 120% of the Average Daily
                           Index Price for that portion of the imbalance, if
                           any, which exceeds 20% of the quantity due Seller.

         (ii)     If Seller has received less Residue Gas at the Redelivery
                  Point than due to Seller and such imbalance is not solely the
                  fault of Buyer:

                                       62
<PAGE>   6
                  (A)      Buyer shall pay Seller the Average Daily Index Price
                           for that portion of the imbalance which does not
                           exceed 5% of the quantity due to Seller; and

                  (B)      Buyer shall pay Seller 95% of the Average Daily Index
                           Price for that portion of the imbalance, if any,
                           which exceeds 5% of the quantity due Seller, but is
                           not in excess of 10% of such quantity; and

                  (C)      Buyer shall pay Seller 90% of the Average Daily Index
                           Price for that portion of the imbalance, if any,
                           which exceeds 10% of the quantity due to Seller, but
                           is not in excess of 20% of such quantity, and

                  (D)      Buyer shall pay Seller 80% of the Average Daily Index
                           Price for that portion of the imbalance, if any,
                           which exceeds 20% of the quantity due to Seller

         (iii)    For purposes of this Paragraph 4.6(b), the term "Average Daily
                  Index Price" shall mean the simple average of each day's price
                  for such Month as found in the Financial Times Energy
                  publication "Gas Daily," in the section entitled "Daily Price
                  Survey," for WAHA under the heading "Texas Intrastate, WAHA
                  area" under the column marked "Midpoint".

REDETERMINATION OF REFERENCE PRICE
In the event any of the published prices referenced in this Section 4 are
discontinued or materially modified, its successor shall be used, or in the
absence of a successor, Buyer and Seller shall mutually agree to another
published price reference that represents gas or NGL spot prices closely
comparable to that previously used. If a published price is discontinued or
materially modified, Buyer will inform Seller by written notice. If the parties
cannot agree on a satisfactory replacement reference price within two Months
after a reference price ceases to be published, then either party may initiate
arbitration by written notice to the other calling for the appointment of an
arbitrator to whom each party will nominate its preferred replacement reference
price. If the parties cannot agree on a single arbitrator within 20 days after
such initial notice, each party shall select its own arbitrator, and these two
arbitrators shall select a third arbitrator. The arbitrator(s) selected to act
shall have expertise in the natural gas industry, including the marketing and
pricing of natural gas and gas products, and shall be fair and impartial and
have no financial interest in the outcome of the matter to be decided. The
arbitrator(s) shall select from the two reference price nominated by the parties
the one which best reflects a fair market price for daily or monthly commitments
of natural gas or NGL's (as applicable) where the Plant(s) are located. The
price reference selected by the arbitrator(s) shall be effective retroactively
to the first Month that the lapsed reference price ceased to be published.
Seller and Buyer will share equally in any and all costs associated with said
arbitration.

TERM.
This Contract shall remain in effect for a primary term expiring January 31,
2019, and shall continue in effect from year-to-year thereafter until canceled
by either party as of the end of the primary term or thereafter by giving the
other party ninety (90) days advance written notice.

ADDRESSES AND NOTICES.
Either party may give notices to the other party or parties by first class mail
postage prepaid, by overnight delivery service, or by facsimile at the following
addresses or other addresses furnished by a party by written notice. Unless
Seller objects in writing, Buyer may also use Seller's current address for
payments.

<TABLE>
<CAPTION>
NOTICES TO SELLER
-----------------
General, Payments Operational
-----------------------------
<S>                                                 <C>
Range Production I, L.P.                             Range Production I, L.P.
Attn: Gas Marketing                                  Attn:  Engineering
P.O. Box 54320                                       500 Throckmorton St., Suite 1900
Oklahoma City, OK  73154-4320                        Fort Worth, TX  76102
(405) 947-2545 (Voice)                               (817) 870-2601 (Voice)
(405) 947-3083 (Fax)                                 (817) 870-2316 (Fax)
</TABLE>

                                       63
<PAGE>   7
<TABLE>
<CAPTION>
NOTICES TO BUYER
----------------
General, Ownership Changes                  Accounting                          Operational
--------------------------                  ----------                          ----------------------
<S>                                         <C>                                 <C>
Conoco Inc.                                 Conoco Inc.                         Conoco Inc.
Attn: Gas Supply                            Attn: Gas Plant Accounting          San Angelo BU
P. O. Box 2197                              P. O. Box 1267                      P. O. Box 2197
                                                                                Houston, TX  77252
281-293-1639 (Voice)                        580-767-4631 (Voice)                281-293-1639(Voice)
281-293-1720 (Fax)                          580-767-3705 (Fax)                  281-293-1720 (Fax)
</TABLE>

UNPROFITABILITY.
BUYER'S RIGHT TO CLAIM UNPROFITABILITY
If the purchase of gas from any Point(s) of Delivery under this Contract becomes
Unprofitable (as defined under paragraph A.17 Exhibit "A" attached hereto) ,
Buyer shall not be obligated to purchase such gas as long as such condition
exists. Buyer may invoke this provision by written notice of Unprofitability,
which shall include the economic terms under which Buyer could continue
purchasing Seller's gas. Seller must provide written notice to Buyer within 25
days of receiving said notice, whether it is electing to accept or reject
Buyer's revised terms of purchase. If such terms are accepted by Seller, Buyer
will continue purchasing Seller's gas under the revised terms effective the
Month beginning 30 days after Buyer's original notice of unprofitability. Such
revised economic terms shall remain in effect until the purchase of Seller's gas
would have been profitable for Buyer under the original economic terms for two
consecutive Months, at which time the original economic terms shall become
effective. If the revised purchase terms are not acceptable to Seller, upon
Seller's notice to Buyer, Buyer will provide transportation services to Seller
as set out in Paragraph 7.2 below. For as long as such transportation only
arrangements are in effect, Seller will have the right to terminate the Contract
effective 90 days from Buyer's receipt of written notice from Seller, unless
Buyer within 30 days receipt of Seller's termination notice, agree to restore
the original economic terms of the Contract. Such restoration of the Contract
will be effective the Month following 30 days receipt of Buyer's notice.

BUYER'S TRANSPORTATION SERVICES
Upon request by Seller pursuant to Paragraph 7.1 above, and if operationally
feasible, Buyer will transport and redeliver to the Redelivery Point(s) selected
by Seller from those identified in Paragraph 4.6 (a) an Equivalent Quantity to
that received from Buyer at the Point(s) of Delivery for a transportation fee of
$0.20 per MMBTU received at the affected Point(s) of Delivery. For any Point of
Delivery not requiring compression, "Equivalent Quantity" shall mean a quantity
of gas equal in MMBTU to that received at the Point of Delivery. For low
pressure Points of Delivery requiring compression, "Equivalent Quantity" shall
mean a quantity of gas equal in MMBTU's to that received at the Point of
Delivery less 6 percent for field fuel and line loss. Seller's Redelivered gas
shall be of merchantable quality without requiring additional treatment.

The herein stated transportation fee shall escalate according to the terms set
out in 4.4 (b). Additionally, imbalances occurring during any period that Buyer
is providing transportation services hereunder will be resolved pursuant to the
provisions of Paragraph 4.6 (b).

If Seller elects to utilize the transportation services as described herein,
Buyer will have the right to terminate this Contract, including all
transportation services at any time after six Months from the date of Buyer's
original Unprofitability notice upon 30 days written notice to Seller.

                                       64
<PAGE>   8
   IN WITNESS WHEREOF, the parties have hereto set their hands in person or by
their duly authorized officials as of the date set forth above.

SELLER:                                   BUYER:

RANGE PRODUCTION I, L.P.                  CONOCO INC.
BY: RANGE PRODUCTION COMPANY,
A DELAWARE CORPORATION,
ITS GENERAL PARTNER

By:        /s/ Chad L. Stephens           By:       /s/ Mary Ann Pearce
   ------------------------------            --------------------------------

Name:    Chad L. Stephens                 Name:     Mary Ann Pearce
     ----------------------------              ------------------------------

Title:        Sr. Vice-President          Title: Manager G & GP
      ---------------------------               -----------------------------

Executed on: June 16, 2000                Executed on: June 15, 2000

                                       65
<PAGE>   9
                                  EXHIBIT INDEX

<TABLE>
<CAPTION>
Exhibit             Description of Exhibit

<S>                 <C>
A                   General Terms and Conditions
                           a.       Definitions
                           b.       Delivery Date
                           c.       Reservations of Seller
                           d.       Metering
                           e.       Determination of Gas Composition
                           f.       Quality of Gas
                           g.       Billing and Payment
                           h.       Force Majeure
                           i.       Title, Ownership
                           j.       Royalty
                           k.       Severance and Similar Taxes
                           l.       Laws and Regulations
                           m.       Right of Way and Ingress, Egress
                           n.       Assignment
                           o.       Miscellaneous Provisions

B                   Area of Dedication of Interest

C                   Index Based Percent of Proceeds Proforma Settlement
                    Calculations
</TABLE>

Range will make the exhibits to the Gas Purchase Contract, between Range
Production I, L.P. and Conoco, Inc., available upon request.

                                       66<PAGE>   1
                                                                    Exhibit 10.3

                      SECOND AMENDMENT TO CREDIT AGREEMENT

         This Second Amendment to Credit Agreement (this "Amendment") is entered
into effective June 23, 2000 (the "Effective Date"), by and among RANGE
RESOURCES CORPORATION, a Delaware corporation ("Borrower"), BANK ONE, TEXAS,
N.A., as Administrative Agent ("Bank One" or "Administrative Agent"), CHASE BANK
OF TEXAS, N.A., as Syndication Agent ("Chase"), BANK OF AMERICA, N.A., as
Documentation Agent ("Bank of America"), and Lenders (as defined in the Credit
Agreement).

RECITALS:

         A.       Borrower and Lenders entered into a Credit Agreement dated
                  September 30, 1999, and a First Amendment to Credit Agreement
                  dated January 20, 2000 (the "First Amendment") (the Credit
                  Agreement, the First Amendment, and all other amendments
                  thereto, including this Amendment, will be referred to
                  collectively as the "Credit Agreement").

         B.       Borrower completed the sale of the Sterling Gas Plant on June
                  16, 2000, and applied the Net Cash Proceeds from the sale to
                  reduce the Outstanding Obligations to $121,000,000.

         C.       The conditions precedent to Lenders' consent to Borrower's
                  issuance of Subordinate Notes, as described in the First
                  Amendment, were not satisfied, and Borrower no longer has
                  immediate plans to issue Subordinate Notes.

         D.       Lenders have redetermined the Borrowing Base in accordance
                  with Section 4.02 of the Credit Agreement, effective as of the
                  Effective Date.

         E.       Wells Fargo Bank (Texas), N.A. became Wells Fargo Bank Texas,
                  National Association subsequent to its consolidation with
                  Norwest Bank El Paso, National Association, resulting in Wells
                  Fargo Bank Texas, National Association, being a Lender under
                  the Credit Agreement.

         F.       Borrower and Lenders desire to amend the Credit Agreement as
                  hereinafter set forth in order to, among other things,
                  evidence Lenders' consent to the redetermined Borrowing Base;
                  confirm that Borrower no longer plans to issue the Subordinate
                  Notes anticipated by the First Amendment; and acknowledge
                  Wells Fargo Bank Texas, National Association as a Lender.

AGREEMENT:

         In consideration of the premises, the representations, warranties,
covenants, and agreements contained herein, and other good and valuable
consideration, the receipt and adequacy of which are hereby acknowledged,
Borrower and Lenders agree as follows, effective only upon satisfaction of each
condition precedent set forth in Section 4.1 below:

ARTICLE 1 - DEFINITIONS.

         1.1      Credit Agreement Definitions. Capitalized terms used but not
                  defined in this Amendment have the meanings given such terms
                  in the Credit Agreement.

ARTICLE 2 - AMENDMENTS.

         2.1      Amendments to Article 1 - Definitions. The definitions of
                  Borrower's Oil and Gas Properties, Consolidated Interest
                  Expense, Consolidated Net Income, Consolidated Tangible Net
                  Worth,

                                       67
<PAGE>   2
                  EBITDA, Initial Borrowing Base, REFC, Security Documents,
                  Senior Debt and Total Debt in Section 1.01 of the Credit
                  Agreement are hereby amended in their entirety to read as
                  follows:

                  "Borrower's Oil and Gas Properties" means all oil and gas
         properties, pipelines, gathering systems, gas processing plants, and
         other similar assets owned by Borrower and its Consolidated
         Subsidiaries (excluding GLEP and REFC), including related personal
         property and other fixed assets and all related easements, servitudes,
         and similar real property interests owned by Borrower and its
         Consolidated Subsidiaries (excluding GLEP and REFC).

                  "Consolidated Interest Expense" means with respect to Borrower
         and its Consolidated Subsidiaries (excluding GLEP and REFC), on a
         consolidated basis for any period, the sum of (a) gross interest
         expense (including all cash and accrued interest expense) of Borrower
         and its Consolidated Subsidiaries (excluding GLEP and REFC) for that
         period on a consolidated basis, including (i) the amortization of debt
         discounts, (ii) the amortization of all fees payable in connection with
         the occurrence of Debt to the extent included in interest expense, and
         (iii) the portion of any payments or accruals with respect to Capital
         Leases allocable to interest expense and (b) capitalized interest of
         Borrower and its Consolidated Subsidiaries (excluding GLEP and REFC) on
         a consolidated basis.

                  "Consolidated Net Income" means for any period, net income of
         Borrower and its Consolidated Subsidiaries (excluding GLEP and REFC)
         determined on a consolidated basis in accordance with GAAP.

                  "Consolidated Tangible Net Worth" means, as of any date, the
         consolidated shareholder's equity of Borrower and its Consolidated
         Subsidiaries (including GLEP and REFC) which would be reflected on a
         consolidated balance sheet for Borrower and its Consolidated
         Subsidiaries (including GLEP and REFC) prepared as of such date in
         accordance with GAAP less the consolidated Intangible Assets of
         Borrower and its Consolidated Subsidiaries (including GLEP and REFC) as
         of such date. For purposes of this definition, "Intangible Assets"
         means the amount (to the extent reflected in determining such
         consolidated shareholder's equity) of all unamortized debt discount and
         expense, unamortized deferred charges, goodwill, patents, trademarks,
         service marks, trade names, copyrights, organization expenses, and
         other intangible items.

                  "EBITDA" means, for any period, Consolidated Net Income for
         that period, plus, without duplication and to the extent deducted from
         revenues in determining Consolidated Net Income for that period, (a)
         the aggregate amount of Consolidated Interest Expense for that period,
         (b) the aggregate amount of letter of credit fees paid during that
         period, (c) the aggregate amount of income tax expense for that period,
         (d) all amounts attributable to depreciation, depletion and
         amortization for that period, (e) all non-cash, extraordinary expenses
         during that period including non-cash impairments of long-lived assets
         as prescribed under Financial Accounting Standards Board Statements
         Nos. 19 and 121, and (f) all losses resulting from the sale of assets
         during that period, and minus, without duplication and to the extent
         added to revenues in determining Consolidated Net Income for that
         period, (i) all non-cash, extraordinary income during that period and
         (ii) all gains resulting from the sale of assets during that period, in
         each case determined in accordance with GAAP.

                  "Initial Borrowing Base" means a Borrowing Base in the amount
         of $125,000,000.

                  "REFC" means Range Energy Finance Corporation, a Delaware
         corporation that is sometimes referred to by Borrower as 'Independent
         Producer Finance' or 'IPF'.

                  "Security Documents" means the collective reference to the
         Guaranty Agreement(s), the Pledge Agreement(s), the Mortgages, and all
         other security documents hereafter delivered to Administrative Agent
         granting a Lien on any asset or assets of any Person to secure the
         Obligations and liabilities of Borrower hereunder and under any of the
         other Loan Documents or to secure any guarantee of any of the
         obligations and liabilities.

                                       68
<PAGE>   3
                  "Senior Debt" means, at any time outstanding, all Debt of
         Borrower and its Consolidated Subsidiaries (excluding GLEP and REFC)
         except Subordinated Debt.

                  "Total Debt" means, at anytime outstanding, all Debt of
         Borrower and its Consolidated Subsidiaries (excluding GLEP and REFC).

         2.2      Amendments to Article 4 - Borrowing Base. (a) Section 4.02 of
                  the Credit Agreement is hereby amended in its entirety to read
                  as follows:

                  "4.02.   Periodic Determination. The Borrowing Base will be
                           redetermined semiannually on April 1 and October 1,
                           commencing October 1, 2000, or on such date promptly
                           following each such date as may be required to
                           redetermine the Borrowing Base in accordance with the
                           procedures set forth in Section 4.01(b).
                           Notwithstanding any provisions to the contrary in
                           Section 4.01 above, without the approval of all
                           Lenders, the Borrowing Base resulting from the
                           Periodic Determination scheduled for October 1, 2000,
                           shall not exceed $115,000,000."

         (b)      Section 4.05 of the Credit Agreement is hereby amended in its
                  entirety to read as follows:

                  "4.05.   Initial Borrowing Base. Subject to the rights of
                           Borrower to request an earlier Special Determination
                           pursuant to Section 4.03 above, the rights of Lenders
                           to request an earlier Special Determination pursuant
                           to Section 4.04 above, and the rights of Lenders to
                           reduce the Borrowing Base as provided in Section
                           7.03(c) below, the Borrowing Base in effect under
                           this Agreement shall be the Initial Borrowing Base
                           commencing June 19, 2000, and continuing until the
                           next Periodic Determination."

         2.3      Amendment to Article 5 - Collateral. Section 5.01(a) of the
                  Credit Agreement is hereby amended in its entirety to read as
                  follows:

                         "(a) The Obligations shall be secured by first and
                   prior Liens (subject only to Permitted Encumbrances) covering
                   (i) Borrower's Oil and Gas Properties selected by
                   Administrative Agent which in the aggregate comprise at least
                   80% of the total Present Value assigned by Administrative
                   Agent to Borrower's Oil and Gas Properties, (ii) 100% of the
                   issued and outstanding Equity of each existing and future
                   Subsidiary of Borrower (exclusive of REFC), and (iii)
                   Borrower's interest in GLEP."

         2.3      Amendments to Article 7 - Representations, Warranties, and
                  Covenants. (a) Amendments to Affirmative Covenants. (1)
                  Subparagraphs (1) and (2) of Section 7.02(c) of the Credit
                  Agreement are hereby amended in their entirety to read as
                  follows:

                           "(c)  Financial Information.  Furnish to Lenders:

         (1)      Within 90 days after the end of Borrower's fiscal year (which
                  ends on December 31), a copy of its annual audited
                  consolidated financial statement including at least a balance
                  sheet as of the close of the year, a statement of operations,
                  a statement of changes in shareholders' equity, and a
                  statement of cash flow, prepared in conformity with GAAP by
                  Arthur Andersen L.L.P. or another independent firm of
                  certified public accountants acceptable to Lenders, together
                  with a certificate from an Authorized Officer of Borrower that
                  no Default or Event of Default has occurred or exists;

         (2)      Within 45 days after the end of each calendar quarter, a copy
                  of Borrower's unaudited consolidating quarterly financial
                  statement, prepared in conformity with GAAP, consisting of at
                  least a balance sheet as of the close of that quarter, a
                  statement of operations, a statement of changes in
                  shareholders' equity, and a statement of cash flows for the

                                       69
<PAGE>   4
                  period from the beginning of the fiscal year to the close of
                  that quarter, certified to be accurate by an Authorized
                  Officer of Borrower, and accompanied by a certificate of the
                  signing officer that no Default or Event of Default has
                  occurred or exists;"

         (b)      Amendments to Negative Covenants. (1) Section 7.03(g) of the
Credit Agreement is hereby amended in its entirety to read as follows (with the
text of Section 7.03 not quoted herein, Section 7.03(g) as amended below will
read that "Borrower shall not, and shall not permit any Subsidiary to, directly
or indirectly" take the action identified):

                  "(g)     Restricted Payments. Make any Restricted Payment;
                  provided that so long as no Default or Event of Default exists
                  and no Default or Event of Default will result from the
                  Restricted Payment, Restricted Payments not otherwise
                  prohibited by this Agreement may be made in an aggregate
                  amount (measured cumulatively from June 30, 1999) not to
                  exceed the sum of (i) $10,000,000, plus (ii) 50% of the Net
                  Cash Proceeds to Borrower from all common equity offerings
                  completed by Borrower after September 30, 1999, plus (ii) 50%
                  of Borrower's Consolidated Net Income earned after June 30,
                  1999 (for purposes of this Section 7.03(g) only, Consolidated
                  Net Income shall exclude non-cash impairments of long-lived
                  assets as prescribed under Financial Accounting Standards
                  Board Statements Nos. 19 and 121); and provided further that,
                  notwithstanding the foregoing, Borrower shall not pay
                  dividends with respect to its common Equity."

         (2)      Section 7.03 of the Credit Agreement is hereby amended to add
the following paragraph (q) (with the text of Section 7.03 not quoted herein,
Section 7.03(q) as added below will read that "Borrower shall not, and shall not
permit any Subsidiary to, directly or indirectly" take the action identified):

                  "(q)     Restrictions on Dividends and Interest Payments. Pay
                  dividends with respect to its common Equity or its Preferred
                  Stock or pay interest with respect to its 5 3/4% convertible
                  junior subordinated debentures issued in October 1997;
                  provided that, Borrower may pay dividends with respect to its
                  $2.03 convertible exchangeable Preferred Stock issued in
                  November 1995 or pay interest with respect to its 5 3/4%
                  convertible junior subordinated debentures issued in October
                  1997 as long as the dividend or interest payments do not cause
                  a breach of the Total Debt Interest Coverage Ratio set out in
                  Section 7.04(c) of this Agreement (for purposes of calculating
                  the Total Debt Interest Coverage Ratio for this Section
                  7.03(q), the denominator in the ratio, which is the
                  Consolidated Interest Expense on Total Debt, shall include all
                  dividends paid by Borrower with respect to its Preferred
                  Stock)."

         (c)      Amendments to Financial Covenants. Section 7.04 of the Credit
Agreement is hereby amended in its entirety to read as follows:

                           "7.04.   Financial Covenants. So long as this
                  Agreement remains in force, Borrower and its Consolidated
                  Subsidiaries (which shall include GLEP and REFC with respect
                  to Section 7.04(a) but shall exclude GLEP and REFC with
                  respect to Sections 7.04(b) through (f)) shall maintain, on a
                  consolidated basis, the following (all calculated in
                  accordance with GAAP as of the end of Borrower's most recent
                  fiscal quarter):

                                    (a)      Consolidated Tangible Net Worth. A
                  minimum Consolidated Tangible Net Worth as of any date which
                  is not less than the sum of (i) $175,000,000, plus (ii) 50% of
                  the net proceeds to Borrower from the

                                       70
<PAGE>   5
                  issuance of Equity securities on or after September 30, 1999
                  (for purposes of this Section 7.04(a) only, Consolidated
                  Tangible Net Worth shall exclude non-cash impairments of
                  long-lived assets as prescribed under Financial Accounting
                  Standards Board Statements Nos. 19 and 121);

                                    (b)      Senior Debt Interest Coverage
                  Ratio. A ratio (calculated as set out below) of EBITDA to
                  Consolidated Interest Expense on Senior Debt of at least 3.0
                  to 1.0;

                                    (c)      Total Debt Interest Coverage Ratio.
                  A ratio (calculated as set out below) of EBITDA to
                  Consolidated Interest Expense on Total Debt of at least 2.5 to
                  1.0;

                                    (d)      Senior Debt Leverage Ratio. A ratio
                  (calculated as set out below) of Senior Debt to EBITDA not in
                  excess of 3.0 to 1.0;

                                    (e)      Total Debt Leverage Ratio. A ratio
                  (calculated as set out below) of Total Debt to EBITDA not in
                  excess of 5.0 to 1.0; and

                                    (f)      Current Ratio. A ratio of current
                  assets to current liabilities on any date of at least 1.0 to
                  1.0 (for purposes of this calculation, current assets will
                  include an amount equal to the Unused Availability and current
                  liabilities will exclude current maturities of long term Debt
                  of Borrower to Lenders under this Agreement).

                                       71
<PAGE>   6
                  For Borrower's fiscal quarters ending June 30, 2000, September
                  30, 2000, and December 31, 2000, the ratios in Sections
                  7.04(b), (c), (d), and (e) above will be calculated on an
                  annualized basis (with the fiscal year commencing January 1,
                  2000, and ending December 31, 2000). After December 31, 2000,
                  the ratios will be calculated for Borrower's most recent
                  rolling twelve month period ending at the end of each
                  quarter."

         2.5      Wells Fargo Consolidation. The Credit Agreement is hereby
amended to change Wells Fargo Bank (Texas), N.A. wherever it appears to Wells
Fargo Bank Texas, National Association.

         2.6      Schedules and Exhibits. The Credit Agreement is hereby amended
to replace Schedules 1 and 2 to the Credit Agreement with Schedules 1 and 2
attached to this Amendment. Schedule 3 is attached for information purposes
only.

ARTICLE 3 - CONSENTS.

         3.1      Lapse of Consent for Additional Notes Offering. The conditions
precedent to Lenders' consent to the issuance of additional Subordinate Notes by
Borrower, which are outlined in the First Amendment, were not met, and Borrower
is no longer authorized to issue Subordinate Notes as contemplated by the First
Amendment.

ARTICLE 4 - CONDITIONS PRECEDENT.

         4.1      Conditions Precedent. The effectiveness of this Amendment is
subject to the satisfaction of the following conditions precedent, unless
specifically waived in writing by Administrative Agent:

                  (a)      Closing Deliveries. Administrative Agent shall have
received this Amendment, properly executed by all required parties.

                  (b)      No Material Adverse Effect. No event or condition
shall have occurred which is reasonably expected to have a Material Adverse
Effect.

                  (c)      No Legal Prohibition. The transactions contemplated
by this Amendment shall be permitted by applicable law and regulation and shall
not subject Agents, any Lender, Borrower, or any Subsidiary to any material
adverse change in their assets, liabilities, financial condition, or prospects.

                  (d)      No Litigation. No litigation, arbitration, or similar
proceeding shall be pending or threatened against Borrower or any Subsidiary
which calls into question the validity or enforceability of the Credit Agreement
(as amended hereby) or the other Loan Documents.

                  (e)      No Default. No Default or Event of Default shall have
occurred and be continuing.

                  (f)      Other Matters. All matters related to this Amendment,
the other Loan Documents, and Borrower and its Subsidiaries shall be acceptable
to Administrative Agent and each Lender in their discretion, and Borrower shall
have delivered to Administrative Agent and each Lender such evidence as they
shall request to substantiate any matters related to the Credit Agreement (as
amended hereby), the other Loan Documents and Borrower and its Subsidiaries as
Administrative Agent or any Lender shall request.

ARTICLE 5 - RATIFICATIONS, REPRESENTATIONS, AND COVENANTS.

         5.1      Ratifications. The terms and provisions set forth in this
Amendment shall modify and supersede all inconsistent terms and provisions set
forth in the Credit Agreement and the other Loan Documents, and, except as
expressly modified and superseded by this Amendment, the terms and provisions of
the Credit Agreement and the other Loan Documents are ratified and confirmed and
shall continue in full force and effect. Borrower and Lenders agree that the
Credit Agreement and the other Loan Documents, as amended hereby, shall continue
to be legal, valid, binding, and enforceable in accordance with their respective
terms.

                                       72
<PAGE>   7
         5.2      Representations and Covenants. Borrower hereby represents and
warrants to Lenders that (a) the execution, delivery, and performance of this
Amendment and any and all other Loan Documents executed or delivered in
connection herewith have been authorized by all requisite corporate action on
the part of Borrower and will not violate the Articles of Incorporation or
Bylaws of Borrower; (b) the representations and warranties contained in the
Credit Agreement, as amended hereby, and any other Loan Documents are true and
correct on and as of the date hereof, as though made on and as of such date; (c)
no Default or Event of Default under the Credit Agreement, as amended hereby,
has occurred and is continuing; and (d) Borrower is in full compliance with all
covenants and agreements contained in the Credit Agreement and the other Loan
Documents, as amended hereby.

ARTICLE 6 - MISCELLANEOUS PROVISIONS.

         6.1      No Waiver. Except as specifically provided in this Amendment,
nothing contained in this Amendment shall be construed as a waiver by Lenders of
any covenant or provision of the Credit Agreement, the other Loan Documents,
this Amendment, or of any other contract or instrument between Borrower and
Lenders, and the failure of Lenders at any time or times hereafter to require
strict performance by Borrower of any provision thereof shall not waive, affect,
or diminish any right of Lenders to thereafter demand strict compliance
therewith. Lenders hereby reserve all rights granted under the Credit Agreement,
the other Loan Documents, this Amendment, and any other contract or instrument
between Borrower and Lenders.

         6.2      Survival of Representations and Warranties. All
representations and warranties made in the Credit Agreement or any other Loan
Documents, including, without limitation, any document furnished in connection
with this Amendment, shall survive the execution and delivery of this Amendment
and the other Loan Documents, and no investigation by Agents or any Lender shall
affect the representations and warranties or the right of Agents or any Lender
to rely upon them.

         6.3      Reference to Credit Agreement. Each of the Credit Agreement
and the other Loan Documents, and any and all other agreements, documents, or
instruments now or hereafter executed and delivered pursuant to the terms hereof
or pursuant to the terms of the Credit Agreement, as amended hereby, are hereby
amended so that any reference in the Credit Agreement and such other Loan
Documents to the Credit Agreement shall mean a reference to the Credit Agreement
as amended hereby.

         6.4      Expenses of Agent. As provided in the Credit Agreement,
Borrower agrees to pay on demand all reasonable costs and expenses incurred by
Administrative Agent in connection with the preparation, negotiation, and
execution of this Amendment and the other Loan Documents executed pursuant
hereto and any and all amendments, modifications, and supplements thereto,
including, without limitation, the costs and fees of Administrative Agent's
legal counsel, and all reasonable costs and expenses incurred by Lenders in
connection with the enforcements or preservation of any rights under the Credit
Agreement, as amended hereby, or any other Loan Documents, including, without
limitation, the reasonable costs and fees of Administrative Agent's legal
counsel.

         6.5      Severability. Any provisions of this Amendment held by a court
of competent jurisdiction to be invalid or unenforceable shall not impair or
invalidate the remainder of this Amendment and the effect thereof shall be
confined to the provisions so held to be invalid or unenforceable.

         6.6      Successors and Assigns. This Amendment is binding upon and
shall inure to the benefit of Lenders and Borrower and their respective
successors and assigns, except that Borrower may not assign or transfer any of
its rights or obligations hereunder without the prior written consent of
Lenders.

         6.7      Counterparts. This Amendment may be executed in one or more
counterparts, each of which when so executed shall be deemed to be an original,
but all of which when taken together shall constitute one and the same
instrument.

         6.8      Effect of Waiver. No consent or waiver, express or implied, by
Administrative Agent or any Lender to or for any breach of or deviation from any
covenant or condition by Borrower shall be deemed a consent to or waiver of any
other breach of the same or any other covenant, condition, or duty.

                                       73
<PAGE>   8
         6.9      Headings. The headings, captions, and arrangements used in
this Amendment are for convenience only and shall not affect the interpretation
of this Amendment.

         6.10     Applicable Law. THIS AMENDMENT AND ALL OTHER LOAN DOCUMENTS
EXECUTED PURSUANT HERETO SHALL BE DEEMED TO HAVE BEEN MADE AND TO BE PERFORMABLE
IN AND SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF TEXAS UNLESS THE LAWS GOVERNING NATIONAL BANKS SHALL HAVE APPLICATION.

         6.11     Final Agreement. THE CREDIT AGREEMENT AND THE OTHER LOAN
DOCUMENTS, EACH AS AMENDED HEREBY, REPRESENT THE ENTIRE AGREEMENT OF THE PARTIES
WITH RESPECT TO THE SUBJECT MATTER HEREOF ON THE DATE THIS AMENDMENT IS
EXECUTED. THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS, AS AMENDED HEREBY,
MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT
ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN AGREEMENTS BETWEEN THE
PARTIES. NO MODIFICATION, RESCISSION, WAIVER, RELEASE, OR AMENDMENT OF ANY
PROVISION OF THIS AMENDMENT SHALL BE MADE EXCEPT BY A WRITTEN AGREEMENT SIGNED
BY BORROWER AND LENDERS.

         Executed as of the Effective Date.

                              BORROWER:

                              RANGE RESOURCES CORPORATION

                              By:  /s/  Eddie M. LeBlanc
                                 -----------------------------------------------
                                        Eddie LeBlanc, Senior Vice President
                                        and Chief Financial Officer

                              AGENTS:

                              BANK ONE, TEXAS, N.A.,
                                as Administrative Agent and a Lender

                              By:  /s/  W. Mark Cranmer
                                 -----------------------------------------------
                                        W. Mark Cranmer, Vice President

                                   74
<PAGE>   9
                              CHASE BANK OF TEXAS, N.A.,
                               as Syndication Agent and a Lender

                              By:  /s/  Robert C. Mertensotto
                                 -----------------------------------------------
                                        Robert C. Mertensotto, Managing
                                         Director

                              BANK OF AMERICA, N.A.,
                               as Documentation Agent and a Lender

                              By:  /s/  J. Scott Fowler
                                 -----------------------------------------------
                                        J. Scott Fowler, Managing Director

                              BANKERS TRUST COMPANY

                              By:  /s/  Marcus M. Tarkington
                                 -----------------------------------------------
                                        Marcus M. Tarkington, Director

                              OTHER LENDERS:

                              PNC BANK, NATIONAL ASSOCIATION

                              By:  /s/  Robert J. Tiskus
                                 -----------------------------------------------
                                        Robert J. Tiskus, AVP

                              FLEET NATIONAL BANK,
                              formerly known as BankBoston, N.A.

                              By:  /s/  Stephen J. Hoffman
                                 -----------------------------------------------
                                        Stephen J. Hoffman, Vice President
                              CIBC INC.

                              By:  /s/  M. Beth Miller
                                 -----------------------------------------------
                                        M. Beth Miller, Authorized Signature

                              WELLS FARGO BANK TEXAS,
                              NATIONAL ASSOCIATION, successor by
                              consolidation to Wells Fargo Bank (Texas), N.A.

                              By:  /s/  Roger Fruendt
                                 -----------------------------------------------
                                        Roger Fruendt, Vice President

                              CREDIT LYONNAIS NEW YORK BRANCH

                              By:  /s/  Philippe Soustra
                                 -----------------------------------------------
                                        Philippe Soustra, Senior Vice President

                              ABN AMRO BANK N.V.

                              By:  /s/  Jamie A. Conn
                                 -----------------------------------------------
                                        Jamie A. Conn, Vice President

                              By:  /s/  Matt McCain
                                 -----------------------------------------------
                                        Matt McCain, Assistant Vice President

                              BANK OF SCOTLAND

                              By:  /s/  Annie Glynn
                                 -----------------------------------------------

                                       75
<PAGE>   10
                                        Annie Glynn, Senior Vice President

                              THE SANWA BANK, LIMITED

                              By:  /s/  Clyde Redford
                                 -----------------------------------------------
                                        Clyde Redford, Vice President

Schedules
---------
Schedule 1 - Commitments
Schedule 2 - Addresses for Notices
Schedule 3 - List of Subsidiaries

                                       76

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