Range Resources Updates on Tx. Well
Range Resources updated on the Russell Bevly #1 appraisal well as part of the North Chapman Ranch Joint Venture's multi-well program in Texas.
The appraisal well Russell Bevly #1 spudded on May 9, 2010 and is progressing as follows:
- Name of well: Russell Bevly #1
- Spud date: May 9, 2010
- Current depth of well: ~4,304 ft (1,312m)
- Target depth of well: ~14,000 ft (4,268m)
- RRS beneficial interest: 20%
The projected total depth of the well is 14,000 ft. (4,268m), and located approximately 1,900 ft. (570m) north-northwest of the Smith #1. Range holds a 20% working interest in the well, which has an estimated dry hole cost of US $3.8m (Range share US$760,000 which was pre-paid).
Range will provide regular updates on the progress on the drilling of the Russell-Bevly well.
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