Range enters pact with LandOcean

Range Resources, the London-quoted oil and gas explorer, yesterday said it has awarded an eight-year agreement to LandOcean Energy Services, valued at $400m (£238.7m). Chinese firm LandOcean will act as the preferred contractor for Range for oilfield services including geoscience, engineering and construction. In addition, LandOcean will provide Range an option to take up to $50m of financing.