Range Resources Plans to Increase Trinidad Production during 2H 2015
Range Resources announced Friday that it plans to increase production in Trinidad during the second half of 2015, following a production decrease of eight percent during June and July.
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 production decline during the last quarter, but was confident that access to four additional new drilling rigs during 2H 2015 would be “pivotal to improving operational performance and growing production”.
Four new development wells are scheduled to be drilled during the third quarter of 2015 and the drilling sites of the first two wells have already been prepared. The first of the four new drilling rigs is expected to arrive in Trinidad in mid-August, according to a Range Resources release.
The company also announced that it has appointed Lijun Xiu as Trinidad deputy general manager and chief geologist, effective immediately. Xiu worked for Jilin Oilfield Research Institute of Petroleum Exploration & Development, a division of China National Petroleum Corporation, for 30 years.
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