Proactive Investors - Run By Investors For Investors

Range Resources details plans to get Perlak field into production

"We are hugely excited to be announcing an accelerated work programme in Indonesia,” said Yan Liu, chief executive
oil and gas operations
It targets 200 bopd of oil production at Perlak

Range Resources Ltd (LON:RRL) has detailed plans for a new work programme for the Perlak field in Indonesia where the company is targeting first production in mid-2018.

The field programme, targeting early production, is due to start in the second quarter and is expected to add up to 200 barrels of oil production per day.

READ: Range Resources' drilling arm wins Shell contract in Trinidad

"We are hugely excited to be announcing an accelerated work programme in Indonesia,” said Yan Liu, chief executive.

“Following the completion of the initial study work, Range and its partners have developed a plan to target a rapid return to production by undertaking a low risk, focused work programme.”

Liu added: “This is a first step towards unlocking the full potential of this highly prospective asset, which has the potential to deliver significant benefits to our shareholders in the form of increased production, cashflows and new development opportunities."

The work programme will include the reopening of up to 10 existing, previously producing wells in addition to two workovers of past producers.

Produced oil will be sold to Indonesia's premier oil firm, Pertamina, which has a collection point approximately 160 kilometres away. It will be transported by truck.

It is anticipated that expenditure for the 2018 work is forecast at US$6mln gross and, under its partnership terms, Range funds 60% of the operating company.

View full RRL profile View Profile

Range Resources Timeline

Related Articles

range resources well in trinidad
August 16 2018
Infrastructure upgrades at Range’s Beach Marcelle oil field are underway, while two new wells at the project are due to be drilled later this year
1532456979_Prairie_Provident_Resources_-_Rig_in_Wheat.png
July 25 2018
The company is focused in the Wheatland and Princess in Southern Alberta, where it is targeting the Lower Mannville formation
oil and gas operations
May 23 2018
An acreage award in the UK 30th Offshore Licensing Round expands the group's flagship Liberator field

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use