Range Resources Ltd

Range Resources Limited (“Range” or “the Company”) is both an ASX-listed (ASX: RRS) and AIM-listed (AIM: RRL) exploration and production company with assets in Texas- U.S, Republic of Georgia, Trinidad and Puntland- Somalia.
 
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 Flow rates?

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DiamondDon

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Posts : 28
Join date : 2010-06-16
Location : The Oil Capital of Europe

PostSubject: Flow rates?   Tue Jul 05, 2011 9:37 am

Starting to see a few queries regarding flow rates on ECV. Someone even mentioned 250bopd this week as a guess.

I'm thinking, as RRL have stated 200-500k total recoverable per well, and expecting a 10-12 year lifespan of each well, then taking an average of 250k per well for 10 years at a steady flow (for example) will produce an average of 68bopd, of which just 14 will be net to RRL at 21.75%.

Obviously not as straightforward as that, the wells will flow higher rates to begin with before tailing off until they are non-commercially viable.
As an average assessment, I think 60-100bopd gross would be a fair starting point, and certainly wouldn't want to be banking on higher rates than that.

In any case, the Ross3H well, and perhaps one more to follow, is all about proving up the viability of the field for an onward profitable disposal.
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PostSubject: Re: Flow rates?   Tue Jul 05, 2011 9:50 am

It will be interesting to find out flow rates DD.

I got the impression when we increased our Interest in ECV that it would surprise us all how lucrative it will be in comparison to the amount invested.

Can PL pull off another NCR type investment and increase the value 250 fold.....?
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