(MENAFN- ProactiveInvestors - Australia) Range Resources Ltd (LON:RRL) produced just under 41,000 barrels of oil in the three months ended September 30, which amounts to 444 barrels net to the company per day.
Output rose above 600 bopd through the month of September, as a result of successful work-over and drilling operations.
The company says it is sticking to its longer term production target of 2,500 bopd by the end of the 2017 calendar year, as production from waterflooding operations ramp-up.
At present waterflooding is underway at the Beach Marcelle field and MorneDiablo, where it has been injecting water at a rate of 640 barrels per day and 200 bpd.
Range has requested access to additional water (700 bpd) from a Petrotrin (Petroleum Company of Trinidad and Tobago Limited) gathering station and it is working to complete a water pipeline system for the Beach Marcelle operation.
For Morne Diable, the company is negotiating with Petrotrin to access water from its existing operations. This could allow water injection to increase to 3,000 bpd, and Range expects to agree a deal before the end of this year.
Morne Diablo's first production via waterflood is due at some point in the fourth quarter, while first production from waterflooding in the South East block (of Beach Marcelle) is anticipated in the first quarter of 2017.
Elsewhere, the company has applied for permission to waterflood wells at the South Quarry field, and it continues to evaluate other areas for their waterflooding potential.
New drilling meanwhile continues to boost output as well.
Two new development wells were drilled in the quarter, and testing was also completed for one further well (all three were tested during the three months).
Range intends to drill two more wells in the remainder of this year. It expects to have delivered 200 bopd from the new wells rather than the original target of 500 bopd, because the first three have yielded lower rates than it anticipated.
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