Range Resources revealed Thursday that it is on track to achieve its previously announced production target of 1,000 barrels of oil per day in Trinidad by the end of 2015.
The company’s average production in Trinidad during the last 30 days was 590 bopd and the latest well, called MD 42N, was spud in the region on September 4, 2015. MD 42N is currently drilling ahead at 2,180 feet to a total depth of 3,120 feet. Range’s estimate of recoverable oil from the well is 72,000 barrels. The company expects to spud four additional wells in Trinidad before the end of October.
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. On August 24, 2015, the company confirmed its plan to drill 22 exploration and development wells in Trinidad by the end of the first quarter of 2016 and the first of these wells was spud on September 7, 2015.
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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