Australia’s London-listed Range Resources Ltd (RRL) production out of T&T continues to increase following successful drilling operations, the company said in a release. “Since the last reported production figures there has been a five per cent increase from 564 barrels of oil per day (bopd) to 592 bopd. This represents nearly a 15 per cent increase in production since January,” the company said.
The increase in production, the company said, is a result of “continued development drilling and successful workover operations. Two shallow development wells in the Morne Diablo field have been successfully drilled since September 30, to depths of 807 and 1,111 feet and are now producing.” Operations continued without any significant health, safety, security and the environment (HSSE) incidents.
A STOW (Safe to Work) audit was also “successfully completed and final certification from the T&T Energy Chamber is expected to be awarded before the end of 2014,” the company said. Work continues with LandOcean on technical studies related to the waterflood projects and the company remains on track to begin water injection in 2015, according to the release. Updating investors on its drilling rig fleet, RRL said: “One rig is being mobilised to its next location in the Morne Diablo field; three other rigs are operational and will recommence drilling subject to final permits from the government; upgrade work continues on rig 8 in preparation for deep drilling; one rig remains stacked in long-term maintenance.”
RRL CEO Rory Scott Russell said: “We are now seeing the start of results from our investments in our T&T production projects, staff and rigs. We look forward to seeing steady progress with production continuing to ramp up in the coming months. We expect to complete a number of additional shallow development wells by the end of the year by which time we will have several rigs drilling in parallel, as well as continuing to progress with our workover programme.”
In oil and gas jargon, a “workover programme” occurs when work (maintenance or enhancement) is done on a well without shutting it down completely. Scott Russel said: “Upon completion of the recently announced US$50 million fund package from Core Capital, we will be in a position to expand our operational activity even further, including the execution of our waterflooding programme. We are confident that we are now on the path to a step change in the performance of our assets in T&T.”
