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Range Resources gains on promising results of oil well in Guatemala

Wed, 13th Feb 2013 09:39

Range Resources shares soared after the oil company reported encouraging results from its Atzam 4 well in Guatemala on Wednesday.Shares jumped 10.83% to 3.99p as the group said it recovered high quality oil from the well. Latin American Resources, operator of the Atzam Oil Project in Guatemala, has continued swabbing the well to recover the drilling and perforation fluids and establish the commercial potential of the perforated Lower C17/Upper C18 carbonates.Flow rates of 300 to 400 barrels per day were estimated with an 85% to 90% oil cut, based on results to date.Approximately 50% of the total drilling and perforation fluids used in the operations have been recovered."The operator is now arranging to use an Electrical Submersible Pump (ESP) to help fast track the finalisation of the clean-up operations and establish the commercial potential of these perforated zones," Executive Director of Range Resources, Peter Landau, said.The ESP will be sourced from the US and is expected to be operational in two to three weeks.The recovery of high quality oil from swabbing of the perforated Upper C18 sections is considered promising by the operator for the potential of this section, Landau added. RD
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9 Nov 2015 09:02

Range Starts Drilling Second Well In Trinidad Following Delays

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2 Nov 2015 11:03

Range Resources says production target in Trinidad won't be met until 2016

(ShareCast News) - Oil and gas explorer group Range Resources warned it will not meet its production target at its Trinidad operations until early next year. Earlier this year, the London - listed said it expected annual production from the Trinidad wells to be 1,000 barrels of oil per day, although

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2 Nov 2015 10:44

Range Resources Pushes Back Trinidad Production Target

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5 Oct 2015 09:54

Range Resources Says Well Drilled To Shallower Depth Than Planned

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1 Oct 2015 10:21

Range Resources names new non-exec director

(ShareCast News) - Oil and gas exploration group Range Resources has appointed Yu Wang to the board of non-executive directors. Wang is the nominee of Beijing Sibo Investment Management, which earned the right to appoint up to three non-executive directors, after investing $30m in the London-listed

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30 Sep 2015 15:16

Range Resources First Half Loss Narrows As It Cuts Costs, Streamlines

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24 Sep 2015 10:12

Range Resources Says On Track For 2015 Production Target

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7 Sep 2015 12:19

Range Resources gets drilling underway in first Trinidad well

(ShareCast News) - Oil and gas explorer Range Resources said the first development well in its Trinidad project spudded last week and drilling was now underway. The London-listed company said over the next three weeks the MD 42N will be drilled to a total depth of 3,120 feet, adding it expects to re

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7 Sep 2015 08:38

Range Resources Says First Trinidad Well Is Drilling Ahead

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3 Sep 2015 11:37

Range Resources On "Sound Footing" After Securing Financing Package (ALLISS)

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2 Sep 2015 10:54

Range Resources jumps on Trinidad project update

(ShareCast News) - Oil explorer Range Resources shares jumped on news that the first of four new drilling rigs has arrived in Trinidad. The rig, the largest to be added to the Range Resources Drilling Services drilling fleet in 2015, has a 4,000m drilling capacity and is expected to be available

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2 Sep 2015 06:50

Range Resources Says First Of Four Drilling Rigs Arrives In Trinidad

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1 Sep 2015 10:34

Range Resources Funding Deal With Beijing Sibo Approved (ALLISS)

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26 Aug 2015 16:08

London close: Stocks drop as investors dwell on China slowdown

(ShareCast News) - UK equities dropped on Wednesday as China's economic slowdown continued to weigh on investors' minds. The People's Bank of China on Wednesday said it would pump 140 billion yuan into the financial system through a short-term liquidity adjustment operation. The SLO loans, introduce

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26 Aug 2015 10:36

Range Resources plunges despite receiving payment deadline extension

(ShareCast News) - Shares in Range Resources plunged over 8% early on Wednesday, after the oil and gas explorer said the deadline related to its payment to Lind Asset Management had been extended. The London-listed company has made a $5m payment to Lind, which has made a $7.22m statutory demand afte

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