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Range Resources' Trinidad operations turn cash flow positive in May

Mon, 01st Jun 2015 10:23

Oil and gas explorer Range Resources said daily production from its operations in Trinidad & Tobago averaged 620 barrels of oil per day last month.As a result, the London-listed company reported positive cash flow in May, adding it expected the business to remain cash flow positive at the current oil prices and with a production rate of over 510 barrels per day.May was the first in the company's history that the business had been cash flow positive, Range said.Meanwhile, the company reported that operations on well QUN 158 at the Morne Diablo field have been suspended after an accident occurred whilst the rig, was being pulled out of the well.Range added the investigation over the incident could take up to a month."Despite being disappointed by the recent incident, Range management believes it further highlights the importance of the four new drilling rigs to be added to the fleet by Land Ocean this year, as these new rigs will be crucial to improving capabilities and limiting the downtime of Range's development and exploration operations," the company said in a statement.Range shares were up 4.67% to 0.560p at 11:07 on Monday.
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5 Dec 2016 10:08

Range Resources reports drilling campaign successes

(ShareCast News) - Range Resources announced on Monday that the QUN 160 development well in Trinidad that spudded on 9 November, was successfully drilled to a total depth of 2,140 feet on 22 November. The AIM-traded firm said the well was originally planned to be drilled to 2,600 feet, however it wa

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11 Nov 2016 11:15

Range Resources' Trinidad oil well spuds

(ShareCast News) - AIM-listed oil and gas explorer Range Resources announced that its fourth well in Trinidad has spudded. The QUN 160 development well in in the Morne Diablo field spudded on 9 November and is being drilled to a depth of 2,600 feet, which is expected to take about three weeks to rea

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31 Oct 2016 13:46

Range Resources plans $20m convertible loan note

(ShareCast News) - Range Resources plans to issue a three-year, $20m convertible note after inking an agreement with LandOcean Energy Services Co Ltd. It said proceeds from the note would be used solely to replace a portion of the outstanding payable balance due to LandOcean under the terms of the I

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19 Oct 2016 08:57

Range Resources Third Quarter Production Flat, More Wells Planned

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3 Oct 2016 09:19

Range Resources Reports USD38 Million Loss On Trinidad Impairments

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18 Jul 2016 09:54

Range Resources starts drilling MD 251 development well

(ShareCast News) - Range Resources has started drilling the MD 251 development well in Trinidad. The AIM-listed company said the well is drilling ahead to a total depth of 3,900 feet and is expected to take around three weeks to reach target depth. This will be a directional well to test the Middle

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18 Jul 2016 08:13

Range Resources Starts Drilling Latest Development Well In Trinidad

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22 Jun 2016 07:04

Range Resources To Drill New Well In July And Reviews Workover Plan

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31 May 2016 10:48

Range Resources Welcomes Start Of Injection On 2nd Waterflood Project

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27 May 2016 07:37

Range Resources Says AIM Shares Unaffected By ASX Suspension (ALLISS)

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25 May 2016 08:51

Range Resources Names Zhiwei Gu Chairman As David Chen Steps Down

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17 May 2016 14:57

Range Resources, Lind Asset Management settle dispute

(ShareCast News) - Range Resources and Lind Asset Management have reached a binding agreement to settle all of their outstanding claims and disputes. Under the terms of the deal that draws a line under the pair's long-running dispute, Range has paid $0.325m to Lind, which would keep 38m collateral s

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17 May 2016 09:31

Range Resources Reaches Settlement With Lind Asset Management

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12 May 2016 08:47

Range Resources To Drill Follow Up Development Well In Trinidad

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9 May 2016 07:15

Range Resources Must Grow Production To Benefit From New Royalty Rate

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