Range Resources Stabilizes Rates at Smith #1
Range Resources has reported on the Company's US Gulf Coast interests following the successful connection of the Smith #1 well to the
sales line late last month.
After commencing production late last month, the well has been stabilized and is producing into the sales line at rates of between 2.2-2.8Mmcf/day and 200-250 bbls/day. The well remains on track to be shut in during Q2 2010, where the remaining two zones will be fracture stimulated (if needed), comingled with the currently producing zone, and then introduced to the sales line.
It is anticipated that completion of an independent reserves report on the Smith #1 well will be completed in the coming weeks with the results announced once available.
Based on the success of the Smith #1 well and the expanded acreage, the joint venture anticipates a multi‐well program across the lease area with the spudding of a second development well scheduled to commence in April 2010.
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