15th Jan 2014 10:09
LONDON (Alliance News) - Range Resources Ltd Wednesday said the Atzam #5 oil well on the Guatemala site in which it has a 32% interest has been started and drilling is expected to reach 4,100 feet over about 40 days as long as there are no problems.
In a statement, the company said the new well is targeting the same carbonate reservoir targets as the Atzam #4 production well. Production at that well has increased to 150 barrels a day after the opening of choke-flow rate. It still hasn't produced any water.
Range Resources shares were down 1.7% at 1.266 pence in London Wednesday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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