LONDON (Alliance News) - Range Resources Ltd said Thursday it started to undertake work to expand the waterflood project in the Beach Marcelle field in Trinidad.
The company will add up to 11 additional producers and 6 injector wells to the project, with the aim of increasing water injection and oil production rates from early 2019.
Chief Executive Officer Yan Liu said: "Our initial plan is to complete data collection which will help us in gathering comprehensive information on the selected wells. We will be using the findings to activate additional wells and increase the waterflooding area of the project."
Range shares were trading down 2.7% at 0.080 pence each.