Range Resources Share News (RRL)

AIM-listed hydrocarbon exploration company Range Resources has successfully reached a target depth of 1,255 feet at its QUN 144 well in Trinidad where it is producing 75 barrels of oil per day (bopd).In an operational update issued on Monday, the company reported multiple positive results at its many Trinidad wells. This included the news that the Upper Cruse zone in the QUN 135 well had been successfully perforated and would be put into production this week, after 72 hour flow test rates of up to 150 bopd had been recorded.The company also reported that three production rigs had been placed into operation and said that it had completed remedial work on 14 wells which had added "an estimated 95 bopd to current production".The company added that Lower Forest development was continuing to "gain traction" with rig five recently completing the QUN 142 well and the company had successfully perforated the Upper Cruse section of the QUN 135 well.In Trinidad, Range Resources holds a 100% interest in holding companies with three onshore production licenses and fully operational drilling subsidiary.In addition, the group has interests in the frontier state of Puntland, Somalia, the Republic of Georgia, Texas, the USA and Colombia.Range Resources' share price was up 3.72% to 3.07p at 10:25 on Monday. MF