In 2012, a Product-Sharing Agreement signed between the Puntland government and the Australian oil company Range Resources earmarked $5 million for the construction of an airport runway.
Since the development of the Marcellus Shale in the Appalachian region, Southpointe has also become home to many natural gas producers, including Range Resources, and other service companies related to the industry.
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In January 2007, the Puntland administration, which was then led by President Mohamud Muse Hersi, signed the Puntland Product Sharing Agreement (PSA) with Range Resources Limited and the Canmex Minerals subsidiary Canmex Holdings (Bermuda) II Limited.
Shortly thereafter, he resigned his seat effective January 13, 2011, to accept Governor Mark Dayton's appointed to head the Iron Range Resources and Rehabilitation Board.