Range Resources Corp. (NYSE: RRC) reports its proved reserves have increased 29% to 6.5 trillion cubic feet equivalent as of Dec. 31.

Range replaced 773% of production in 2012 from drilling. Finding and development costs from all sources are expected to average $0.87 per thousand cubic feet equivalent, based on preliminary unaudited results for 2012. Drill bit development costs are expected to average $0.68 per thousand cubic feet equivalent.

For 2012, Range added 1,767 billion cubic feet equivalent of proved reserves through the drill bit. Positive performance revisions added 366 ...