Range Resources completes RRDSL acquisition
Friday, Dec 01, 2017
Range is pleased to confirm that following shareholder approval at the General Meeting of the Company held on 30 November 2017, all the conditions for the acquisition of Range Resources Drilling Services Limited (“RRDSL”) have been met. RRDSL is an established oilfield services provider, with successful track record of operations for almost 15 years. RRDSL has been providing Range with full oilfield services in Trinidad since 2003, including waterflood, drilling and workover operations.

The acquisition is expected to significantly decrease the operating costs associated with Range's upstream operations in Trinidad and provide substantial operational flexibility.

Range’s aim is to increase upon the existing levels of business with other upstream companies in Trinidad to provide additional revenue stream. The longer-term goal of the Company is to establish RRDSL as a profitable oilfield services company, providing operations to a wide range of counterparties in the Caribbean and Latin America.

Key terms of the acquisition can found in the announcement published on 13 March 2017 and the Notice of Meeting dated 30 October 2017.

For more information, please visit: http://www.rangeresources.co.uk
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