Range Resources Limited announced Monday that it has spud the first development well of its planned 22 well program in Trinidad.
Well MD 42N, which is located on the Morne Diablo field, was spud on September 4, 2015 and will be drilled to a total depth of 3,120 feet. The well aims to test the upper cruse channel sand complex at a depth of 1,650 feet and the underlying middle cruse sand trend at a depth of 3,120 feet. Range’s estimate of recoverable oil in the well is 72,000 barrels.
Range Resources announced on August 7, 2015 that it planned to increase production in Trinidad during the second half of 2015, following a production decrease of eight percent during June and July this year. Overall production for Range in the region dropped during June and July to 570 barrels of oil per day, compared to 620 bopd in May.
In a company statement Range Resources said that it was disappointed with the production decline, but was confident that access to four additional new drilling rigs during 2H 2015 would be “pivotal to improving operational performance and growing production”.
Range entered Trinidad in 2011 through the acquisition of three producing onshore licenses, gaining a 100 percent working interest in the Morne Diablo, South Quarry and Beach Marcelle developments. The company holds additional exploration acreage on the Guayaguayare license and the St Mary’s license. According to its website, Range is currently the largest private onshore acreage holder in Trinidad.
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