Friday, January 27, 2012
Range today announced continued drilling success as it ramps up its reserves production drilling program on the Morne Diablo concession in onshore Trinidad.
Following the successful logging and completion of the QUN118ST well, initial production testing has seen the well producing at a rate of up to 102 bopd on a 5/32" choke under natural pressure from the shallow Forrest formation and has stabilized at approx. 84 bopd.
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Lundin Petroleum’s strategy of organic exploration growth has delivered excellent results in 2011 from its operations in Norway and South East Asia.
Lundin is planning to drill 24 exploration and appraisal wells in 2012 with a budget of MUSD 460 assigned to the exploration activities. Lundin’s year-end net resources stand at 1 billion barrels. The company expects to double its production over the next four years with its various fields like Gaupe and Johan Sverdrup to come on-stream shortly.
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