(MENAFN- ProactiveInvestors - UK) Range Resources'(LON:RRL ASX:RRS) is planning an aggressive development plan for its assets in Trinidad to boost output up to 8,000 barrels per day by 2014.
Production from Trinidad has become the primary focus of Range's operational objectives, it said.
"The company's commitment to its Trinidad operations with respect to financial, drilling and human resource cannot be understated," executive director Peter Landau said.
"The proposed changes to both existing and 'new well' fiscal terms has further incentivized Range to increase its efforts to ensure that it materially capitalizes on any proposed fiscal changes that may arise," he added.
Range's work programme through to 30 June 2013 comprises over 40 wells in Trinidad including up to four deeper Herrera exploration targets.
Elsewhere, Landau said Range will continue to fund and drive its Puntland interests either in its current form or through a spin-out vehicle that shareholders will participate in through a capital distribution.
In Georgia, he said Range's key priorities are to secure a strategic partner in the Tkibuli CBM project and complete the current seismic program on both blocks VIa and VIb.
"These two milestones should pave the way for the company to attract a farm in partner/s of note to assist with the exploration and development efforts in Georgia," Landau said.
The sale of Range's Texas interests should complete this year, which will allow it to increase its exploration activity in Colombia.
At least one well and the 3D seismic program will be completed on the Putamayo blocks in Colombia over the coming 12 months said Landau.
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