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Range Resources

Malcy's Blog Jan 2018

(ASX:RRS / AIM:RRL / PINK:RGRLF & RGRYY)
Informed Discussion. No ramping. No deramping.

Malcy's Blog Jan 2018

Post Tue Jan 02, 2018 4:55 pm

Range Resources
A trading update from Range who have had a busy year and I would imagine are planning to settle down and deliver on promises made in the past. Today’s trading update is very much a step in the right direction as they reveal that the recent well at Beach Marcelle is on production at a stabilised rate of 120 b/d on a restricted choke of 5/32″. They also say that the waterflood programme is showing a ‘positive trend’ with 40% of current production coming from it at 240b/d. Average production in the last quarter was 629b/d with peak at the end of December of 703b/d. With an active programme planned this year and increased opportunities from the RRDSL rig acquisition as well as from Indonesia Range looks in a much more stable position than for some time.
Celticheart07
 
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