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Don't have an account? Click here to register.Range Resources making progress but losses flat
Fri, 16th Mar 2012 08:12
Oil and gas group Range Resources reported the same level of losses in the first half of its fiscal year, despite soaring revenue, as operating costs increased significantly.Revenue from continuing operations increased from $1.1m to $12.8m in the six months ended December 31st. However, as operating costs surged from $0.6m to $8.3m, the pre-tax loss was flat at $2.2m.The firm completed five out of the 21 development wells at its Trinidad assets during the period, with production totalling 90,000 barrels of oil. The group is now running a 24-hour operation in the region after adding over 70 employees.In Georgia, Range spudded it first exploration well but further drilling at the next well has been delayed by severe weather in recent weeks.The company also reported successful drilling in Texas and said that the Smith #2 well is expected to come on-line into production shortly.Shares were up 1.75% at 14.5p in early trading on Friday.BC
More News
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
Read more27 Jan 2016 09:01
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
Read more3 Dec 2015 09:34
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
Read more20 Nov 2015 08:31
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
Read more