Range Resources Ltd. (ASX: RRS) plans to sells its interest in the North Chapman Ranch and East Clarksville fields to an undisclosed buyer for US $30 million.

The purchase price includes US $25 million due at closing, which is scheduled to occur in the coming weeks, and another US $5 million in royalty payments from future production. Range holds a 25% interest in the initial Smith #1 well and a 20% interest in further wells on the North Chapman Ranch project, which encompasses about 1,680 acres in Texas. Total proven ...