5th Oct 2015 09:54
LONDON (Alliance News) - Range Resources Ltd on Monday said the MD 42N development well at the Morne Diablo field in Trinidad was drilled to a shallower total depth than planned.
The well was spud in early September and was drilled to a revised depth of 2,610 feet, rather than the initially planned depth of 3,210 feet. The total depth was cut due to bore instability encountered, which forced the company to stop drilling in order to avoid the risk of losing the well.
Hydrocarbon sands and oil shows were seen in the Upper Cruse channel of the well, and electric log interpretation confirmed the presence of recoverable hydrocarbons. The well has been cased and approvals are now being sought for production testing.
Shares in Range were down 1.5% to 0.5416 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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