21st Nov 2013 11:17
LONDON (Alliance News) - Range Resources Ltd. Thursday said the operators of its 32% owned Guatemalan project have completed the construction of its Atzam #5 drilling location towards initial production.
The Texas-based oil and gas company said a drilling rig is being moved to the site and will be drilling ahead towards initial reservoir targets in next few days, as part of a 40-day drilling programme on Atzam #5.
The company said the site is to target the same reservoirs as its Atzam #4 production well nearby, which has 2.3 million barrels of 2P reserves in the ground.
Range Resources shares were up 3.6% to 1.57 pence Thursday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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