Range Resources reaches Texas sale agreement
HOUSTON -- Range Resources Limited announced the following update with respect to the sale of its Texan assets.
Agreement reached on total cash consideration of $30 million with $25 million payable at closing plus $5 million in royalty payments from future production.
Earlier this year, the Company looked to source alternative suitors for the Texan assets following the delays in completing a sale of the assets to parties identified in late 2012. Range is pleased to announce that it has now reached an agreement to sell its Taxes producing assets for cash payments totaling $30 million.