6th Aug 2018 11:47
LONDON (Alliance News) - Oil & gas company Range Resources Ltd on Monday said its subsidiary secured a contract with a subsidiary of Touchstone Exploration Inc.
Under the deal, Range Resources said Range Resources Drilling Services Ltd will provide turnkey services for drilling one well on Touchstone Exploration Trinidad Ltd's onshore WD8 block in Trinidad.
Range Resources will use its own rig, which has been mobilized to the location ahead of commencement of drilling operations expected in mid-August.
The drilling operations are expected to take approximately 15 days.
"We are extremely pleased to have secured a contract with a second operator in Trinidad this year," said Range Resources Chief Executive Yan Liu.
"We are hoping to continue expanding our client base and growing revenues by securing further contract work," added Liu.
Shares in Range Resources were trading 7.6% higher on Monday at 0.10 pence each, while Touchstone Exploration shares were down 4.1% at 19.66p.
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