13 Apr 2016 07:40
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Don't have an account? Click here to register.Range Resources shares lift off after oil discovery
Wed, 20th Feb 2013 08:55
Shares in dual-listed oil and gas exploration company Range Resources rose sharply on Wednesday morning after the company reported that probable reserves of 2.3m barrels of oil had been independently estimated at its Atzam site in Guatamala.Range Resources reported that Citation Resources, a company in which Range Resuorces has a 19.9% stake, and Latin American Resources had commissioned an independent reserves report based on the results of logging and analytical work conducted by Schlumberger. The report, which was written by Ralph E Davis and Associates (RED), concluded that there was up to 20 material oil shows in the Atzam well, with eight zones recommended by RED to be tested for commerciality.The probable reserves estimate excluded contributions from two areas, known as the C18 and C19 sections, due to minimal log data.Range Resources predicted estimated flow rates of 300-to-400 barrels per day with an 85-to-90% oil cut from the Lower C17 and Upper C18 sections. The company's share price was up 21.04% to 5.81p at 09:09 on Wednesday.MF
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