Trinity E&P said today that the sale of a package of assets in Trinidad to Range Resources had been blocked by regulators.
Trinity Exploration and Production has agreed to sell its stakes in a package of assets in Trinidad and Tobago to Range Resources for $4.5million.
Range Resources has managed to increase production and keep a tight fist on spending.
A US fracking company which has a contract to supply Ineo’s petrochemical plant at Grangemouth with ethane has reportedly been fined in the past for polluting the environment.
Range Resources said it has completed a merger agreement with Memorial Resource Development.
Range Resources has successfully spud its well in Trinidad.
Range Resources said it has spudded the MD 251 well in Trinidad.
Range Resources plans to drill a development well on its acreage in Trinidad early next month after reviewing its workover programme to focus on the "most economic" wells.
Trinidad focused Range Resources has begun injection on its flagship Bean Marcelle waterflood project.
Range Resources' share trading on the AIM market will be unaffected by its request for voluntary suspension of its shares on the Australian Stock Exchange.
Range Resources has agreed to buy fellow oil and gas producer Memorial Resource Development in a $4.$billion.
Range Resources is to drill a second development well in Trinidad, following the "highly encouraging results" from its MD250 well.
Range Resources will have to pay reduced royalty rates to Trinidad and Tobago's state-owned oil company which will be be of increasing benefit as production increases.
Range Resources said it has "highly encouraging" results from its Trinidad operation after discovering multiple pay zones during its current drilling programme.
Range Resources has reviewed its 2016 work programme in Trinidad and Tobago with the company focusing its attention on waterflood projects.
Range Resources said its chief executive has handed in his resignation notice. Yan Liu will step also down from his role as the company’s Trinidad general manager.
Range Resources said it has been advised by authorities in Colombia that three exploration licences previously awarded to it have been revoked. The company said the National Hydrocarbons Agency in the country had informed them that PUT-5, VMM-7 and VSM-1 had been pulled over claims maintenance commitments had not been fulfilled.
Range Resources has signed an agreement to sell its Nora assets for $876million. The properties encompass 3,500 operated wells and 460,000 net acres located in Virginia. The company said the sale is scheduled to close by year-end and is subject to customary closing conditions and purchase price adjustments.
US independent Range Resources has Yu Wang, the nominee of Beijing Sibo Investment Management, as a non-executive director to the board.
US independent Range Resources plans to drill 22 new wells in Trinidad by the end of the first quarter of 2016.