7th Aug 2015 07:09
LONDON (Alliance News) - Range Resources Ltd on Friday said production from its Trinidad projects declined in June and July against May and said it is making progress with further development work at the site.
Range said its average production from its Trinidad projects in June and July fell to 570 barrels of oil per day, down from 620 barrels in June due to a number of factors, including a lack of drilling activity, natural production decline and electrical outages.
The company said it is planning to drill four development wells at the projects in the third quarter, with the sites for the first two well prepared. It has also continuing to prepare for spudding of the Canari North exploration well, which is expected to happen in October.
Range shares were down 9.1% to 0.5956 pence on Friday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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