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Range Resources (ASX: RRS, AIM: RRL) is an oil and gas exploration, development and production company, which is dual-listed on the ASX (RRS) and AIM (RRL).Its principal activities are directed towards finding and delineating hydrocarbons with interests in Trinidad, Texas- USA, Colombia, Puntland- Somalia, and the Republic of Georgia.
Range Resources’ second Puntland well on track to reach target depth on timeJune 22 2012, 8:13am
Range Resources (LON:RRL, ASX:RRS) said the second well being drilled in Puntland, Somalia, has progressed smoothly since spudding and remains on track to reach target depth on time and on budget.
Shabeel North is being drilled by joint venture operator Horn Petroleum (CVE:HRN) and has reached a depth of 984 metres, targeting a total depth of 2,400 metres.
The well is targeting Upper Cretaceous Jesomma sands which had good oil and gas shows in the Shabeel–1 well 3.5 kilometers to the south.
Petrophysical analysis of downhole electrical logs in the Shabeel–1 well indicated a potential pay zone in the Jesomma of 12 to 20 meters with an average porosity of 18 to 20 percent.
Upon completion and testing of the Shabeel North well, the rig will move back to Shabeel-1 to flow test the identified Jesomma sands.