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Range Resources Ltd - Drilling rigs sale update

RNS Number : 5113U
Range Resources Limited
25 November 2019
 

 

Range Resources Limited                                                                 

('Range' or 'the Company') 

 

 

25 November 2019

 

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

DRILLING RIGS SALE UPDATE

Range, an international company with oil and gas projects and oilfield service businesses in Trinidad and Indonesia, provides an update in relation to the sale of four drilling rigs and related equipment of its subsidiary Range Resources Drilling Services Limited ("RRDSL"), as announced on 23 October 2019.

The buyer has undertaken a final inspection of the rigs on 22 November 2019. The Company is now awaiting the payment of the agreed cash consideration from the buyer of US$3.6 million plus late fees calculated at US$3,600 per day imposed from 23 November until closing occurs. The closing date has been extended to 10 December 2019. The Company will provide a further update upon closing.

 

 

 

Contact details

 

 

 

Range Resources Limited

Evgenia Bezruchko (Group Corporate Development Manager & Joint Company Secretary)

e. [email protected]

t.   +44 (0)20 3865 8430

Cantor Fitzgerald Europe (Nominated Adviser and Broker)

David Porter / Rick Thompson (Corporate Finance)

t.   +44 (0)20 7894 7000

 


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Quick facts: Range Resources

Price: -

Market: AIM
Market Cap: -
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