Range Resources
Two pieces of good news from Range, yesterday they announced that RRDSL had been successfully been awarded a contract with Shell Trinidad for a one-well work over and that rig 19 started operations on 19th March and will take approximately 10 days. This is most important as if your rig is good enough for Shell then…..
And today they announced an update from Indonesia where an early production focused work programme has been agreed, earlier than I had expected. First oil production is expected to get under way in mid-2018 at 200 bopd gross and field work will also start with well reopenings and workovers. With an experienced team now in place and two offices opened Range can look forward to ‘ unlocking the full potential of this asset’.
RRS Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
