Here is what Malcy reports about RRS.Range Resources
Range has announced average production for the third quarter of 563 b/d which is up 12% on the previous quarter due to a combination of upgraded storage facilities and completed work overs.
However the main takeaway from the announcements is the reorganisation and corporate tidy up that the company is undertaking. They are selling Trinidad upstream assets, selling some of the rigs, wiping out debt, de-listing from the ASX, having a 100:1 share consolidation and changing the name to Star Phoenix Group. The AGM on November 29th in London will be crucial as some of these matters need approval. All the same, the market asked for change and the company is obliging.
