Cue Energy Resources to Plug, Abandon Naga Selatan-1 Well

Australia's Cue Energy said Friday that it plans to plug and abandon the Naga Selatan-1 well, due to poor hole conditions which prevented evaluation with wire-line tools. 

The well is sited within the Mahakan Hilir Production Sharing Contract (PSC) in the Kutei Basin, Indonesia.
This is the second well that Cue Energy has decided to plug and abandon this week, according to statements issued by the company.
The well is sited around 5 miles (8 kilometers) from the oil-producing Sanga-Sanga field.
Cue Energy said in its statement that "no commercial discovery has been conclusively proven in the block." The company added that it has "established moderate to good quality reservoir present down to depths of 8,000 feet and the presence of hydrocarbons is established in a number of horizons."
The companies involved in the PSC are: SPC Mahakam, the PSC operator, which holds a 60-percent stake and Cue Mahakam which holds the remaining 40-percent stake. 
Cue Energy disclosed on June 28, 2012, that it had planned to plug and abandon the Banambu Deep-1 well, sited in permit WA-389-P, in the Carnarvon Basin, Western Australia, as wire-line logs show that the well is water-bearing.



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