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Range Resources drilling unit lands contract with Touchstone Exploration Inc

The Range Resources Drilling Services Limited unit is going to drill a well for Trinidad neighbour Touchstone Exploration

oil and gas operations
The Touchstone well will spud in mid-August

Range Resources Ltd (LON:RRL) has told investors that its well services subsidiary has landed a new contract.

Range Resources Drilling Services Limited (RRDSL) is now to provide turnkey services to Touchstone Exploration Inc (LON:TXP, TSE:TXP) for one initial well, which will be drilled using RRDSL’s rig 17 which has now been mobilised.

READ: Range Resources achieves production target

It is anticipated that the well will spud in mid-August and the drilling will last around 15 days.

"We are extremely pleased to have secured a contract with a second operator in Trinidad this year, which is a testament to the quality of RRDSL's services, HSSE standards, equipment and personnel,” said Yan Liu, Range chief executive.

“RRDSL is an experienced oilfield services operator with a long track record of successful operations. Its current and past clients include some of the largest operators onshore Trinidad.

“We are hoping to continue expanding our client base and growing revenues by securing further contract work."

Rig 17 is one of four new rigs purchased by RRDSL back in 2015.

Quick facts: Range Resources

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Market: AIM
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