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Don't have an account? Click here to register.Range Resources rises after successful drilling beats targets
Fri, 09th Dec 2011 12:56
Oil company Range Resources has successfully completed the drilling of the step out QUN 116 well where it encountered around 66 feet of net pay zone. The well initially flowed at a rate of 50 barrels of oil per day (bopd), exceeding the company's targeted rates of 15-30 bopd. "This is especially encouraging given this was achieved under natural flowas opposed to under pump," the firm said. The rig has now moved onto well location QUN 118, which is currently drilling with a total depth of 950 feet.Rig 2 has reached the extended target depth on the QUN 117 well of 2,400 ft, with good oil sands and oil shows encountered between 560-830 feet and 2220-2300 feet. The initial results from this well look to have confirmed the predictions that the current well program would extend the existing fields, the firm added. A production rig has been moved onto the location for production flow testing with early indications exceeding the company's expectation on the 2,000ft wells (50-100 bopd target). The share price rose 4.94% to 8.5p by 13:04.NR
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