Range Resources spuds third well in Trinidad

Range Resources said it has spudded the third development well of a 22 well programme in Trinidad and has now received government and regulatory approvals for its Morne Diablo waterflood expansion programme.

The company said it is drilling ahead to a total depth of 2,000 ft on the well, which is the second development well to be drilled on its Beach Marcelle field.

Depending on the results, the well may be used as part of a waterflood pattern in the future.

In addition, the group said it has been given all the necessary government and regulatory approvals for the Morne Diablo field.

Initial water injection is expected to commence during the current month and first production is expected in the second half of next year.

Waterflooding is the use of water injection to increase the production from oil reservoirs.

At 0945 GMT, Range shares were down 0.3% to 0.40p.