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Wed, 06th Jun 2012 07:37
AIM-listed oil and gas peers Range Resources and Red Emperor Resources have announced that their jointly-owned Shabeel North well in Puntland, Somalia, has been spudded.The well, the second in the current drilling campaign, is operated by Canadian group Horn Petroleum which owns a 60% interest. Range and Red Emperor have a 20% stake each.It is targeting Upper Cretaceous Jesomma sands which had good oil and gas shows in the Shabeel-1 well 3.5km to the south. Analysis of Shabeel-1 showed a potential pay zone of up to 12-20 metres with an average porosity of 18-20%. "It is planned to bring the rig back to the Shabeel-1 location to test these sands to confirm their ability to flow oil once the drilling of the Shabeel North well is completed."The planned target depth of the second well is 2,400 metres and drilling is expected to take 45 to 60 days to complete."This is another very significant milestone in what has so far been a very positive drilling campaign. The fact that Shabeel-1 showed a strong presence of reservoir rock and hydrocarbons as well as a potential net commercial oil pay, gives a very good indication that this well will do the same," said Red Emperor's Managing Director Greg Bandy.Meanwhile, Horn's President and Chief Executive Officer David Grellman said: "The results of this well should help us confirm the extent of the petroleum system in the basin and, if successful, would be another step towards proving the economic potential of the basin."BC
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22 Feb 2016 09:01
Range Resources revises Trinidad programme
(ShareCast News) - Low oil prices forced Range Resources to reevaluate its work in Trinidad and Tobago on Monday, with the company focusing its attention on waterflood projects in the country. The AIM-listed company said it had the most active onshore work programme among independents in Trinidad fo
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Range Resources continues development despite low oil prices
(ShareCast News) - Range Resources was pressing ahead with development at its Trinidad sites, despite the low oil price environment causing serious uncertainty. The AIM-traded resources firm saw its oil and gas production decrease by 5% from the previous quarter, to 547 barrels per day. It blamed t
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Range Resources spuds third well in Trinidad
(ShareCast News) - Range Resources said it has spudded the third development well of a 22 well programme in Trinidad and has now received government and regulatory approvals for its Morne Diablo waterflood expansion programme. The company said it is drilling ahead to a total depth of 2,000 ft on the
Read more20 Nov 2015 09:32
Range Resources completes well on Trinidad site ahead of schedule
(ShareCast News) - Exploration and production group Range Resources said work on GY 180SE, the second well at its Trinidad project, has been completed ahead of schedule. In a short statement released on Friday, the London-listed company said oil shows and hydrocarbon sands were encountered at the Mi
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9 Nov 2015 12:26
Range Resources gets drilling operation underway in Trinidad
(ShareCast News) - Oil and gas explorer Range Resources has begun drilling its second exploration well in Trinidad, which will be drilled deeper than originally planned. The London-listed company said GY 180SE, the second of its 22-well programme was spudded on 4 November after the company incurred
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