Range Resources Limited provides an update on its exploration drilling programme in the North Chapman Ranch area, Texas.

Smith #1 well, North Chapman Ranch The exploration well Smith #1 spudded on 4 September 2009. Surface casing was set and cemented at 1,528 ft (465m) and the well was subsequently drilled to the intermediate casing depth of 11,352 ft (3,455m). Open hole logs were acquired on October 9, 2009, and 9 5/8" casing set and cemented shortly thereafter.

Range holds a 25% working interest in the drilling of Smith #1 well. The well will be drilled to an approximate depth of 14,200 ft (4,329m) or to a depth sufficient to test the Howell Hight formation. If successful, the Smith #1 well could trigger significant oil and gas production and development drilling with very attractive economics, at a time when exploration and development costs in the US have dropped dramatically.

Tags: Range Resources Corporation