Leni axes Range T&T deal

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Eoin O'Cinneide

 06 November 2012 10:50 GMT

Leni Gas & Oil has called off its planned deal with Range Resources to jointly develop a field in Trinidad.

It is not known if the move, announced by Leni on Tuesday, will prevent Leni from farming into a Range play in the southern Caribbean nation.

Leni and Range struck a partnership agreement in late January to jointly develop their Goudron and Beach Marcelle fields in the Eastern Fields Area of southern Trinidad.

Under a heads of agreement, Range was to farm into the Leni-operated Goudron field for a total outlay of up to $8 million, with the option to gain operatorship.

Leni, for its part, was then to have the option to acquire…

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