Range Resources Limited report further success in the appraisal and development of the North Chapman Ranch Field in Texas (Range 20-25% interest), with the successful drilling of the Smith #2 and Albrecht #1 wells.

Initial gross flow rates from the uppermost pay zone, which is one of four principal pay zones, in the Smith #2 well reached more than 3.0 MMcfd & 125 Bopd, with more than 7500 psi flowing casing pressure on a 10/64" choke. Work is being conducted now to remove all of the plugs below the upper pay zone and combine the remaining lower pay zones to achieve maximum rate and recovery.

The Smith #2 well was drilled approximately 1,350 ft. southeast of the Smith #1 discovery well, further extending the Company's Proved Reserves in that direction.

The Smith #2 was followed immediately by the Albrecht #1, drilled more than 1,500 ft. southeast of the Smith #2. The Albrecht #1 confirmed the presence of the Howell Hight reservoir in that area and is also expected to add significant Proved Reserves to the Company's portfolio.

Tags: Range Resources Corporation