Range Resources Limited has a revised reserve report on the North Chapman Ranch field in Nueces County, Texas, following the successful drilling and completion of the Russell-Bevly #1 appraisal well earlier this year. As previously reported, the Russell-Bevly well confirmed the Company's structural and stratigraphic models and established additional Proved oil and gas reserves across the northwest flank of the closure.

The well averaged 1.3 MMcfd and 104 Bopd during the month of September from just 11 ft. of perforations in one of four identified pay zones totalling roughly 130 ft in thickness. Early October results have already increased to approximately 1.8 Mcf and 140 Bopd over the same zone following the increase of well head pressure.

Commenting on the recent and upcoming events in Texas, Range's Executive Director Peter Landau said, "As expected, the Russell Bevly #1 well has added new reserves, production and cash flow to the Company's portfolio, while helping to calibrate our development plans for the North Chapman Ranch field going forward. Similarly, we are confident that the Ross 3H well will not only add additional crude oil to Range's growing reserve base, but will give us valuable experience in the area of horizontal drilling applications for future upstream projects."

Tags: Range Resources Limited