Mining, Oil & Gas News & Blog
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Range Resources last months reiterated its production forecast of 2,500 barrels per day from onshore Trinidad by end 2017.

Permission to drill the MD 51-2 development well has now been granted, which is part of a progamme to add 500 barrels per day this year.

This is a directional well to test the Middle and Upper Cruse sands encountered by the previous MD 250 hole and expected to spud in July.

Two development wells in Morne Diablo, one development well in Beach Marcelle and one exploration well in the Guayaguayare block are also planned.

Range has scaled back its workover programme, however, to focus on its waterflooding initiative, which will generate most of the production uplift over the next 18 months.

Only the most profitable wells would now be reworked it said.

Approval for three new drilling rigs is expected in the next quarter, while drill contractor LandOcean had agreed to extend credit terms to 24 months.

An outstanding payment of US$2.5mln has also been deferred for a year by LandOcean.

Posted in: Oil and Gas

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