Range Resources has confirmed the sale of part of its assets has successfully closed.
The oil and gas exploration firm has sold Range Resources Drilling Services (RDSL) for $4.37million.
Texas-based RDSL will continue to provide full oilfield operations services to Range in Trinidad.
Range and LandOcean have finalised the Trinidad Drilling Contract agreement with services to be provided on a turnkey basis and priced in line with market rates in Trinidad.
This will ensure that Range is able to accelerate its planned exploration and development programmes in Trinidad, which is critical to grow production.
Range and LandOcean have finalised the first 13 development and exploration wells to be drilled in Trinidad this year.