(Alliance News) - Range Resources Ltd said Monday the closing date for the sale of four drilling rigs to Wilson Energy Services Inc for USD3.6 million has been extended to December 10.
The company - which has oil & gas projects, and oilfield service businesses in Indonesia and Trinidad - also confirmed that its shares have been delisted from the Australian Securities Exchange.
In late October, Range said the ASX has accepted its decision to delist, stating that trading in Sydney has been thin for a significant period of time, compared to larger trading volumes on London's AIM market.
Concerning the rigs sale, Wilson Energy undertook the final inspection on Friday last week. Range Resources is now waiting for the payment of the USD3.6 million from Wilson Energy, in addition to late fees of USD3,600 per day imposed from November 23 until the sale is completed.
Shares in Range Resources were down 3.2% at 0.03 pence on Monday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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