Waterflood projects overview

  • Waterflood projects are the focus of Range's operations in Trinidad
  • Majority of Range’s 2P reserves are in waterflood projects
  • Waterflooding is estimated to increase the total recovery factor to over 30% over the next 8 years
  • Water injection on two projects is currently underway: Beach Marcelle and Morne Diablo
  • The Company plans to conduct injectivity testing on the additional waterflood projects

Beach Marcelle waterflood

  • Beach Marcelle has been split into a number of individual “projects” - South East block is the first "project" being implemented
  • Water injection on South East block commenced in 2016
  • The Company will initially use water from water source wells, which will be supplemented by produced water as the project progresses
  • Beach Marcelle waterflood production is estimated to be the largest contributor towards production growth

Morne Diablo expansion waterflood

  • The project is an extension of the existing pilot scheme
  • Water injection commenced in 2015
  • The produced water from the field will be used as the injection water
  • In addition, Range plans to use water from Petrotrin’s existing operations as its water source, to increase injection to 3,000 bwpd
  • The Company will be constructing a new water pipeline to connect the gathering and injection stations at the Morne Diablo field to Petrotrin's water treatment facility
  • The first production from the Morne Diablo field as a result of waterflooding commenced during Q4 2016

Waterflood technology

  • 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 water into the reservoir to encourage oil production from the remaining producers
  • Most fields in Trinidad have been traditionally produced by “primary recovery”, which uses the solution gas dissolved in the oil to provide the driving force to produce the oil to surface
  • This is a cost effective way to produce initial oil, but recovers only about 15% of the oil-in-place – 85% of the oil remains in the reservoir
  • Waterflooding can recover at least a further 10% of the oil-in-place
  • Texaco used this technique successfully in parts of the Beach Marcelle field in the 1950s/1960s
  • The technique has been used in many onshore fields in regions with a long history of oil production, such as USA, Middle East, China, Latin America