Range Resources' Trinidad oil well spuds

11th Nov 2016 11:15

(ShareCast News) - AIM-listed oil and gas explorer Range Resources announced that its fourth well in Trinidad has spudded.The QUN 160 development well in in the Morne Diablo field spudded on 9 November and is being drilled to a depth of 2,600 feet, which is expected to take about three weeks to reach the company's target depth.The well is a re-drill of the previously drilled QUN 158 well, targeting the same upper cruse and lower forest sands.The well is being drilled by RRDSL, a subsidiary of LandOcean Energy Services, using a 1,000 metre rig, which was granted regulatory and government approvals in November.The GY218 SE well in the Beach Marcelle field will be the last well to be drilled this year, also by RRDSL, using a 2,000 metre rig, which is being prepared for regulatory and government approval. This well is expected to spud by early December.Shares in Range Resources were up 7.74% to 0.366p at 1227 GMT.