Range Resources Share News (RRL)

(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 drilling programme is expected to take 50 days, with a target depth of 5,000ft to test for hydrocarbons in the Gros Morne reservoirs.The well marks Range's maiden venture in Trinidad and holds the potential to de-risk the Moruba sub-basin. A positive result could also prompt a series of follow-on prospects over the coming year.Range said it will update the market further once drilling commences.