Range Resources reaches target depth with Smith #1 well in Texas
12 November 2009
Australian oil and gas explorer Range Resources has reported that the Smith #1 exploration well on its shared acreage on the North Chapman Ranch area in Texas, US, has reached its target depth of 13,975 ft.
After nine weeks of drilling, during which electric logs have been run on the well, a production liner has been run to bottom and the well and it is currently awaiting testing.
Range acquired a 25% working interest in acreage in September when drilling was already underway. It is paying A$1 million to fund the drilling of Smith #1 plus A$350,000 in the event of a discovery to cover the costs of production.
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