Houston-based Castleton Resources to buy Louisiana assets from Range Resources, change name

Houston-based Castleton Resources LLC plans to buy upstream assets in northern Louisiana from subsidiaries of Fort Worth-based Range Resources Corp. (NYSE: RRC).

Castleton will pay $245 million, plus potentially up to another $90 million, contingent on future commodity prices, according to press releases from the companies. Range will retain certain midstream commitments through their remaining term.

The deal is expected to close on Aug. 14. With the acquisition, Castleton Resources will own more…