Finance & Investing
News Services
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy


Kea Updates on Puka Drilling in New Zealand

change text size

Kea Petroleum plc (Kea), an oil and gas company focused on New Zealand, has given an update on results of the testing of Puka wells 1 and 2, including some views on the potential size of the Puka fields and possible future production levels, and plans to drill Puka 3.

Preliminary analysis of the recent 3D seismic over Puka as well as testing results to date indicate that both Puka discoveries are at the edge of a substantial channel. Regional experience with Mt. Messenger discoveries is that sand intersections can vary from 10 feet to 164 feet (3 meters to 50 meters). Puka 2 is only a 12 feet (3.6 meter) net sand and while initial flow tests achieved rates of over 700 barrels of oil per day (bopd), flows from such thin pay could not be expected to be sustained at particularly high levels.

The sustained rates totaling over 300 bopd detailed below are certainly commercial but the opportunity to achieve total daily production rates of over 2,000 bopd, which remains Kea's objective, rests on more holes being drilled into thicker sands.

Advanced but not final interpretation of the 3D, which is expected within three months, together with regional experience would suggest a high probability of finding thicker pay within the main channel.

Kea intends to proceed as quickly as possible to the drilling of Puka 3. The company has adequate cash resources to drill this hole as well as complete the ongoing capital production works at the Puka site.

Sales of oil to date from Puka have raised $1.13 million (NZ$1.45 million).


View Full Article


Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Most Popular Articles
From the Career Center
Jobs that may interest you
Geotechnical Engineer
Expertise: Geotechnical Engineer
Location: Salt Lake City , 
Senior Petrophysical Advisor in Houston
Expertise: Petrophysicist
Location: Houston, TX
Senior Geologist - Appraisal
Expertise: Geologist
Location: Houston, TX
search for more jobs