26 Aug 2015 08:30
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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
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
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