16th Dec 2019 11:02
(Alliance News) - Oilfield services firm Star Phoenix Group Ltd said Monday it has further extended the closing date for the sale of four drilling rigs and related equipment to Wilson Energy Services Inc until December 23.
Star Phoenix, formerly known as Range Resources, had previously extended the sale until December 10.
Wilson Energy carried out the final inspection of the rigs in mid-November and was expected to make a payment of USD3.6 million, around GBP2.7 million, to Star Phoenix.
The energy systems integration company is now expected to pay that amount in addition to late fees of USD3,600 per day imposed from November 23 until the sale is completed.
Shares in Star Phoenix were trading flat at 2.00 pence per share on Monday morning in London.
By Ife Taiwo; [email protected]
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