Range Resources upbeat on Guatemala well

Range Resources has provided a positive update from Guatemala with its Atzam 4 production well "performing strongly" in the two weeks since being brought back into production.

The well has an optimal production rate of 466 barrels of oil per day according to independent reservoir engineers Ralph Davis, but is still operating on a highly restricted choke due to limited onsite tank storage capacity.

Range has a direct and indirect 32 percent interest in the Guatemalan project through stakes in Australian-listed Citation Resources and US-listed operator Latin American Resources.

Source: Interactive Investor