Range Sells Another 0.5% Royalty Interest for $150M
In July MDN brought you the news that Range Resources had sold a 2% overriding royalty interest on 350,000 acres “in southwest Appalachia” for $600 million (see Range Resources Sells 2% Royalty Interest + 20K Acres for $634M). Range’s announcement did not identify who, exactly, was the company doing the purchasing. Lime Rock Resources later self-identified as the buyer (see Mystery Solved: Lime Rock Buyer of 2% Royalty Interest in Range). Range has just done it again–sold off another 0.5% (one-half of one percent) of an overriding royalty interest for another $150 million.
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