28th Jan 2014 07:47
LONDON (Alliance News) - Range Resources Ltd Tuesday said partner Citation Resources Ltd has started drilling the Atzam #5 well on the Atzam Oil field in Guatemala in which Range has a 32% interest.
In a statement from Citation, the company said it started drilling January 15 and is on schedule, having reached a depth of 431 feet. It said it expects the programme to last about 40 days as long as it doesn't run into unforeseen problems, reaching a depth of 4,100 feet.
The Atzam #5 well is targeting the same carbonate reservoir targets as the Atzam #4 production well: 2.3 million barrels of 2P reserves excluding the Atzam #4 primary C18 and C19 carbonate sections, Citation said.
By Steve McGrath; [email protected]; @SteveMcGrath1
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