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Trinidad and Indonesia focused Range Resources said it had agreed to sell assets in Trinidad to LandOcean in exchange for offsetting all outstanding debt owned to the company plus $2.5m in cash.
The debt owed to LandOcean had amounted to around $91m.
'As part of a wider restructuring, the company continues to evaluate new opportunities and to review its strategy with regards to the drilling business in Trinidad and interests in the oil and gas project in Indonesia,' Range Resource said.