Range Resources hits black gold

Range Resources, the international oil and gas exploration company, has successfully sourced oil from the MD 247 well on the Morne Diablo block. The logs from the well indicate 145 feet of net oil pay in the shallow Forest Formation, with the firm looking to add a second and third rig to exploit the deeper producing reservoirs. The firm has attributed its success to the aggressive programme in place to increase production and cash flow, and said first pay zone size exceeded expectations.