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Range Resources successfully drills new development well

Published: 09:28 05 Dec 2016 GMT

oil well
Production testing will soon begin

Trinidad based Range Resources Plc (LON:RRL) has told investors that the QUN-160 development well has been drilled successfully.

It was drilled down to 2,140 feet (2,600 feet was the original plan) and it encountered the primary target, the Upper Cruse formation. Drilling deeper would have cost more for little additional benefit, the company explained.

Range added that production testing is now expected to take place in two stages, with the first scheduled for ‘the beginning of December’. First a zone in the Lower Forrest formation, encountered at 1,012 to 1,271 feet, will be tested before a subsequent test on the Upper Cruse.

New drilled has now begun on the GY-681 well (formerly tagged GY-218-SE) on the Beach Marchelle field. Here, drilling is scheduled to go down to 4,500 feet over a four-week programme.

Range highlighted that success in the GY-218-SE well can unlock new development and expansion opportunities.

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