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Range reports encouraging drilling results

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Oilfield Technology,

Range has announced that following the highly encouraging results of the recently drilled MD 250 well in Trinidad, the company has made a decision to drill a follow up development well from the same drilling pad, named the MD 51 - 2 well. This will be a directional well to be drilled to a total depth of 3900 ft to test the Forest and Cruse sands, which were encountered with the MD 250 well. The company will be submitting the relevant approvals to spud the well to the regulatory bodies in Trinidad shortly.

Multiple hydrocarbon bearing zones identified

As previously announced, initial log evaluations on the MD 250 development well identified multiple hydrocarbon bearing zones, with an estimated net pay of over 140 ft. In line with safety requirements, production testing operations of the MD 250 and MD 51 - 2 wells will be performed only once all drilling operations on the pad area are completed.

The MD 51-2 well is an additional well to the 2016 drilling programme announced on 22 February 2016. The remaining scheduled wells include two development wells in Morne Diablo, one development well in Beach Marcelle, and one exploration well in the Guayaguayare block.

The well will be drilled by RRDSL, a wholly owned subsidiary of LandOcean Energy Services Co., Ltd (LandOcean), using the same rig that drilled the MD 250 well (4000 m rig). The drilling of this well will be funded under the existing credit terms for drilling services with LandOcean.

The company will provide further update to all shareholders upon spudding of the well.

Adapted from a press release by Louise Mulhall

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