Operations


Trinidad

Range entered Trinidad in 2011 through the acquisition of three producing onshore licenses from SOCA Petroleum, gaining 100% working interest in Morne Diablo, South Quarry and Beach Marcelle licenses.

Range also acquired 100% of a fully operational drilling subsidiary comprising of six drilling rigs plus further completion / workover rigs and operational personnel.

The Company has 250+ employees in Trinidad with 125+ having been added by Range since acquisition in 2011 and is operating 24 hours a day, 7 days a week, and opened a technical and administration office in San Fernando in mid-2012.

The Company is a leader amongst its peers with respect to its in-house technical capabilities, with the current primary technical capabilities including:

 

  1. Full work station capability
  2. Seismic interpretation software
  3. Reservoir simulation and modelling
  4. 3-D visualization room
  5. Geologic mapping and interpretation software

 

In December 2013, Range farmed-into two contracts on the Niko Resources Guayaguayare block (onshore and offshore). Spread over 280,000 acres, the block surrounds Range’s Beach Marcelle Field and extends south to the limits of Trinidad’s territorial waters. Range will earn 50% of Niko’s existing interests in both PSCs by drilling two onshore wells. Range will fund the two onshore wells and the potential initial appraisal well as its sole expense. Thereafter, Range will share costs equally with Niko including the cost of drilling an initial offshore well.
Additionally, Range was awarded St Mary’s Block in February 2014 under an onshore bid round (first dedicated onshore round in Trinidad in 15 years). Negotiations of the PSC are currently underway and when complete a JOA will then be concluded.

Range's License Blocks

 

  Trinidad Net Oil Reserves  
  1P 2P 3P Operator
Oil - mmbbls 19.0 22.1 28.2 Range

Trinidad Oil Reserves (Forrest A. Garb & Associates, January 1, 2014)

 

Morne Diablo

The Morne Diablo onshore license comprises 9,300 acres along the southern coast of Trinidad. The field has been producing since 1937 and produced over 10.5 mmbbls to date.

The license has full 3D seismic coverage which was shot in 1999. There are currently over 300 wells on the license of which 142 are currently producing. To date, development and production has only occurred on less than 10% of the license area with the majority of the license area having the potential for further development of up to 140 wells.

There are multi-productive horizons underlying Morne Diablo with the majority of current production coming from the shallow Lower Forest and Upper Cruse reservoirs (depth 1,000-2,000 feet). The current program is targeting all horizons, including a number of wells to be drilled to the semi-exploratory Lower Curse and exploratory Herrera horizon.

Within the Morne Diablo license is the shallow pilot waterflood program over 8 acres, which has produced an incremental 35,000 bbls since its inception in December 2009 from a depth of 150-300 feet. Range intends to expand this program to 80 acres subject to regulatory approvals.

South Quarry

The South Quarry onshore license comprises 3,700 acres along the southern coast of Trinidad, immediately west of the Morne Diablo license. The field was discovered in 1938 and has produced a total of 1.95 mmbbls.

Like Morne Diablo, South Quarry is underlined by numerous productive horizons with the majority of current production coming from the Middle Cruse equivalent “Quarry 19 Sands” horizons.

Over 95 wells have been drilled to between 900 ft. and 6000 ft. on the structure over its life, however, there had been no development drilling on South Quarry for a number of years - development drilling on the South Quarry license has only commenced in early 2014.

Beach Marcelle

The Beach Marcelle onshore license comprises 3,500 acres and is located within the Guayaguayare sub-basin that has a number of oilfields around its rim, including the Navette and Goudron fields and the offshore Galeota and Samaan fields. The field has been producing since 1902 and has produced over 30 mmbbls to date with around 230 wells drilled.

Texaco completed the first of a planned multi waterflood project in mid-60’s before the field was transferred to Petrotrin. Range acquired the larger license area in 2010 with the view to utilise its experience with waterflood EOR from the shallow Morne Diablo program and transfer this experience to the Beach Marcelle license targeting four of the six individual fault blocks.

In addition to the waterflood work, a technical study of the license was completed in early 2012 identifying 50+ infill well locations along with the potential deepening of 6 old well bores to test for primary by-passed reserves (4,500 feet TD).

Geological Background

Trinidad’s Southern basin is the eastern extension of the prolific E. Venezuelan petroleum province, defined by a regionally extensive, world class Upper Cretaceous source rock. These rocks underlie deposits of Paleocene to Miocene age that account for large oilfields in Venezuela (El Furrial) and Trinidad (Penal-Barrackpore, Angostura). The producing reservoirs in Range’s three fields are within this delta sequence. The underlying Miocene turbidites (Herrera sands) are also prolific producers within the basin and form exploration targets. The Upper Cretaceous Source rock is in itself a potential target. Modern shale fracturing technology has upgraded the potential of this formation.

Trinidad Waterflood Program

What is waterflooding?
Waterflooding is a low cost secondary production solution to increase the amount of oil that can be recovered from an oilfield. The process involves converting some oil production wells into water injection wells by injecting (sea) water into the reservoir to encourage oil production from the remaining producers. The injected water helps to increase pressure within the reservoir; it also helps to move the oil in place increasing the amount of oil that can be recovered from the reservoir rocks. Although the effectiveness of water injection varies according to formation characteristics, a waterflood can recover anywhere from 5% to 50% of the oil that is remaining in the reservoir, greatly enhancing the productivity and economics of the development.

 

Illustration of a Typical Waterflood