Range Resources is a dual-listed (London and Australia) oil and gas exploration and production company headquartered in Perth, Western Australia. The company is listed on both the All-Share segment of the London Stock Exchange’s AIM (Alternative Investment Market) as well as the ASX – Australian Stock Exchange. The company IPOd in London in October 2007.
The company strategy is to grow its production, reserves and revenues from existing assets, such as its mostly wholly-owned oil and gas projects and oil-field services businesses in Trinidad (present since 2011, 15.2m barrel reserves, onshore, 100% interest) and Indonesia (acquired in 2017; 23-42% interest, working oil field in Northern Sumatra, on-shore, similar to Trinidad) as well as via interests in on-core oil & gas projects in Georgia and Guatemala.
Subsidiary RRDSL (Range Resources Drilling Services Ltd; acquired 2017) is an established oil-field services provider based in Trinidad. It has a successful track-record record providing full oilfield services in Trinidad since 2003, including waterflood, drilling and workover operations, as well as internationally. Services include rigs, wire logging, cementing, drilling fluids, enhanced oil recovery, tracked carriers, tanker trucks, storage tanks, pipe yard and workshop.
The company’s vision in to grow production and reserves to generate sustainable positive cash-flow, with strict cost discipline to maintain financial strength and flexibility. By continuing to build on its successful track record the aim is for significant operational activity across all assets, delivering regular high impact results and news-flow. Focus on building an attractive portfolio of assets of proven hydrocarbons includes both existing assets as well as continued evaluation of acquisition opportunities of high quality assets with big upside potential.
Oil and Gas exploration is an expensive and success-related business. Those involved are always seeking out new prospects, however, the model often relies on being able to convert projects into cash, to fund the next one. It’s all about finding the big one, before the money runs out.