Range Resources announced Tuesday that it expects to spud the Canari North Exploration Well, located on the Guayaguayare Block onshore Trinidad, during the week commencing July 27, 2015.
The Canari North well, which will be drilled to a target depth of 5,000 feet and test for the presence of hydrocarbons in the well’s Gros Morne reservoirs, will be the first exploration well to be drilled by the company in Trinidad. Drilling operations will take approximately 50 days, according to Range Resources.
Range’s estimate of the P50 unrisked, recoverable, prospective resource of the Canari North Prospect is 8.64 million barrels of oil equivalent. Subject to final government and regulatory approvals, Range Resources will hold a 65 percent interest in the Shallow Production Sharing Contract where the Canari North well is located, and the State Oil and Gas Company of Trinidad and Tobago Limited (Petrotrin) will hold a 35 percent interest.
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