DST2 was performed over a 12 m interval from 2834 m in the upper portion of the Lower Tsagaantsav Formation. The zone flowed oil and some associated gas to surface without the need for any artificial lift.
The company has announced 3Q19 sales and revenues of US$12.8 billion, a 6% decrease compared with US$13.5 billion in 3Q18. The decrease has been attributed to a US$1.2 billion movement in dealers’ inventories.
Wilson Energy Services will pay Range a total cash consideration of US$3.6 million upon completion of the transaction.
At the end of ramp-up, production will reach a capacity of approximately 3 million m3 of gas and 3000 bpd of condensate.
The agreement was made at the Russia-Africa summit in Sochi, Russia.