Range Resources Limited announced Friday that the MD 250 development well in Trinidad has encountered hydrocarbon sands and oil shows at depths of 1,350 feet and between 3,500-3,600 feet.

The well, which took 18 days to be drilled, discovered an estimated net pay of over 100 feet, according to a company statement. Log evaluations are currently underway, with individual geologic targets scheduled to be selectively perforated and tested, pending approvals from regulatory bodies.

This is the first of the five well drilling program that Range has planned for 2016. The remaining scheduled wells include two development wells in Morne Diablo, one development well in Beach Marcelle, and one exploration well in the Guayaguayare block. As previously announced, these wells were prioritised based on anticipated production, return on investment and payback period. Drilling of any additional wells will be evaluated dependent on the results from these wells and further comprehensive studies.

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