Project Profile
Location: Southern end of the county of Mayaro, Trinidad and Tobago
Area: 280,170 shallow acres (onshore) and 293,999 deep acres (offshore)
Exploration start-up: 2014
Range Resources has agreed a farm-in with Niko Resources under which it will gain a stake in the Guayaguayare onshore/offshore block in southern end of the county of Mayaro, Trinidad. The explorer agreed in principle to acquire half of Niko Resources’ interests in the large block, which is comprised of more than 280,000 contiguous acres covering both onshore and offshore portions. Niko Resources currently holds shallow and deep production sharing contracts for 65% of the onshore portion and 80% of the offshore portion of the license area with the Guayaguayare Block comprising 280,170 shallow acres and 293,999 deep acres. In return Range Resources will pay for a shallow onshore well and a deep onshore well, the first of which is to spud early in 2014. The two explorers will share costs equally after the well pair. From August 2015, Range has been appointed as the Operator of the block. Range signed an amendment agreement to acquire the full remaining interest of Niko in the block. Range holds an 80% interest in the Deep PSC and a 65% interest in the Shallow PSC.
Operators:
Range Resources: Operator with 65% interest (onshore) and 80% interest (offshore)
Other investors: 35% interest (onshore) and 20% interest (offshore)