Range Resources Limited (“Range” or “the Company”) is pleased to announce that it has received Certificate of Environmental Clearance (“CEC”) approvals from the regulatory authorities for the drilling of a total of 40 wells, 8 well deepenings and commencement of the enhanced recovery waterflood program (“EOR”) on its Beach Marcelle license in Trinidad. This is a significant milestone for the Company and now paves the way for final project plans for the development / deepening wells and EOR programs to be submitted to the regulatory authorities for final formal approval with operations scheduled to commence Q1 2014.
Whist awaiting the CEC approvals, the Company has completed the Beach project development plans and recently presented its waterflood development program to Petrotrin. As previously announced, Range is also assessing the potential use of nitrogen injection to further assist recoveries and production rates. Nitrogen injection would increase production rates and recoveries from the field whole leading to additional increases in Proved Reserves.
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