26 Aug 2015 08:30
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Don't have an account? Click here to register.Range Resources fails to flow
Fri, 28th Oct 2011 16:10
AIM-listed oil firm Range Resources saw its share fall after announcing that the first of two tests on its Mukhiani well in Georgia did not flow. The second test will now be undertaken and the company will provide an update next week, it said. Elsewhere, the firm's second development in the North Chapman Ranch in Texas is progressing ahead of schedule, where Range and its partners have logged a significant show in the Manley section. The firm said: "It is expected that the well will reach an intermediate pipe point in the coming days, at which time it will be logged to this intermediate depth and before drilling ahead to total well depth of 14,000 ft." In Trinidad, extensive engineering studies have led the company to expect to be able to release details of an upward revision of its proved reserves in the area next week. "The upward revisions follow better than expected drilling results from the company's initial 2011 drilling program, along with recently completed engineering studies of secondary recovery potential in the Beach Marcelle Block," the firm added.The engineering review confirmed that significant volumes of crude remain in the Beach Marcelle field that can be produced using standard secondary recoverytechniques such as water flooding.The share price fell 5.53% to 9.4p by 16:44.NR
More News
24 Aug 2015 08:36
Range Resources finalises drilling schedule for Trinidad project
(ShareCast News) - Oil and gas explorer Range Resources said it has agreed the drilling schedule for the next 22 development and exploration wells in its Trinidad project. The London-listed company said the 22 wells are expected to be drilled by the end of the first three months of next year, althou
Read more7 Aug 2015 08:22
Range Resources tumbles as Trinidad update disappoints
(ShareCast News) - Shares in Range Resources tumbled as an update on its Trinidad operations disappointed investors. The exploration and production company said average production in Trinidad fell by 8% in June and July compared to the last reported production of 620 barrels of oil per day in May as
Read more31 Jul 2015 09:05
27 Jul 2015 10:53
Range Resources gets green light for Chinese funding deal
(ShareCast News) - Explorer Range Resources has received regulatory approval for a $30m funding deal with Beijing Sibo Investment Management. Shares in the AIM listed stock were down 2.64% to 0.641p at 0850 BST. Sibo said it would subscribe for ordinary shares, giving $22.1 in cash for a subscripti
Read more14 Jul 2015 10:41
Range Resource's maiden Trinidad well to spud this month
(ShareCast News) - Range Resources is due to spud its Canari North exploration well in the week beginning 27 July. The announcement follows comprehensive regulatory approvals and meetings with partners, contractors, service providers and regulatory agencies involved in the well's operations. The dr
Read more2 Jul 2015 09:20
Range Resources fails in court bid set aside US$7.2m payment
Oil and gas explorer Range Resources said would consider appealing a court decision which ordered it to repay Lind Asset Management US$7.2m. The company had applied to the Supreme Court of Western Australia to aside the statutory demand orders, but the court said it must pay. The court said it woul
Read more