Tribe Technology set to deliver healthy pipeline of orders from Tier-One miners. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRange Resources Share News (RRL)

  • There is currently no data for RRL

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Range reassures that Puntland well has not yet reached target depth

Wed, 18th Apr 2012 15:46

AIM-listed oil and gas group Range Resources has assured investors that the Shabeel-1 well currently being drilled in Puntland, Somalia, has not yet reached target depths, despite 'negative statements' being circulated. The company said that it still plans to drill to the originally planned depth of 3,800m to evaluated the primary and secondary reservoir targets in the Lower Cretaceous and Jurassic intervals equivalent to the main productive section seen in the analogous fields in Yemen. The joint venture operator Horn Petroleum had so far drilled to 2,953m but has not yet reached these reservoir targets. Range Executive Director Peter Landau has assured that there is still some drilling to be done.Shares were up 4.88% on Wednesday afternoon. However, including today's rise, the stock is still 12% down on the week and 32% lower over the last month. Red Emperor Resources, the other joint venture partner, has also suffered a sell-off as of late but was trading nearly 13% higher today."We are very pleased with the progress of the drilling programme and the results seen to date," Range's Managing Director Greg Bandy said last week."Confirming an active petroleum system is particularly significant, especially given that we are yet to reach the primary objectives of the well. We look forward to updating the market as we get closer to target depth," he said.BC
More News
5 Dec 2016 10:08

Range Resources reports drilling campaign successes

(ShareCast News) - Range Resources announced on Monday that the QUN 160 development well in Trinidad that spudded on 9 November, was successfully drilled to a total depth of 2,140 feet on 22 November. The AIM-traded firm said the well was originally planned to be drilled to 2,600 feet, however it wa

Read more
11 Nov 2016 11:15

Range Resources' Trinidad oil well spuds

(ShareCast News) - AIM-listed oil and gas explorer Range Resources announced that its fourth well in Trinidad has spudded. The QUN 160 development well in in the Morne Diablo field spudded on 9 November and is being drilled to a depth of 2,600 feet, which is expected to take about three weeks to rea

Read more
31 Oct 2016 13:46

Range Resources plans $20m convertible loan note

(ShareCast News) - Range Resources plans to issue a three-year, $20m convertible note after inking an agreement with LandOcean Energy Services Co Ltd. It said proceeds from the note would be used solely to replace a portion of the outstanding payable balance due to LandOcean under the terms of the I

Read more
19 Oct 2016 08:57

Range Resources Third Quarter Production Flat, More Wells Planned

Read more
3 Oct 2016 09:19

Range Resources Reports USD38 Million Loss On Trinidad Impairments

Read more
18 Jul 2016 09:54

Range Resources starts drilling MD 251 development well

(ShareCast News) - Range Resources has started drilling the MD 251 development well in Trinidad. The AIM-listed company said the well is drilling ahead to a total depth of 3,900 feet and is expected to take around three weeks to reach target depth. This will be a directional well to test the Middle

Read more
18 Jul 2016 08:13

Range Resources Starts Drilling Latest Development Well In Trinidad

Read more
22 Jun 2016 07:04

Range Resources To Drill New Well In July And Reviews Workover Plan

Read more
31 May 2016 10:48

Range Resources Welcomes Start Of Injection On 2nd Waterflood Project

Read more
27 May 2016 07:37

Range Resources Says AIM Shares Unaffected By ASX Suspension (ALLISS)

Read more
25 May 2016 08:51

Range Resources Names Zhiwei Gu Chairman As David Chen Steps Down

Read more
17 May 2016 14:57

Range Resources, Lind Asset Management settle dispute

(ShareCast News) - Range Resources and Lind Asset Management have reached a binding agreement to settle all of their outstanding claims and disputes. Under the terms of the deal that draws a line under the pair's long-running dispute, Range has paid $0.325m to Lind, which would keep 38m collateral s

Read more
17 May 2016 09:31

Range Resources Reaches Settlement With Lind Asset Management

Read more
12 May 2016 08:47

Range Resources To Drill Follow Up Development Well In Trinidad

Read more
9 May 2016 07:15

Range Resources Must Grow Production To Benefit From New Royalty Rate

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.