Cue Reports that Drilling Continues at Whio-1 Well in NZ's Taranaki Basin
Cue Energy Resources Ltd (Cue) disclosed Monday that it has been advised by OMV New Zealand Ltd (OMV), the Operator of permit PEP 51313 offshore Taranaki in New Zealand, that at 07:30 hours (local time) Aug. 15, the Whio-1 well was at a depth of 5,190 feet (1,582 meters) measured depth rotary table (MDRT) in 12.25 inch hole, and is drilling ahead towards the planned total depth of 9,445 feet (2,879 meters) MDRT (9,035 feet or 2,754 meters total vertical depth rotary table or TVDRT).
Whio-1 is being drilled from the Kan Tan IV (mid-water semisub) at a surface location 68.3 miles (110 kilometers) south-west of New Plymouth, Taranaki, New Zealand and 2.8 miles (4.5 kilometers) south-east of the Maari well-head platform.
Cue has been advised by the Operator that the upper reservoir objectives (Whio A, M2A, and Upper Moki) at Whio are water-bearing. Whio-1 is currently being drilled towards the deeper reservoir objectives, of which the Mangahewa Formation is the primary target, and which is oil bearing in the Maari Field. The secondary lower reservoir objectives are the Kaimiro and Farewell formations. Success in the remaining objectives at Whio will open additional exploration potential along the Tasman Ridge to the south of Maari, including the Matariki prospect.
Cue is free-carried by OMV in the drilling and completion of Whio-1 under the terms of a farmout agreement signed in December 2012. In the event of a commercial discovery in the Whio area, the participating interests of all partners will be aligned with those of the Maari Joint Venture as follows:
- Cue Taranaki Pty Ltd: Whio Current Interest - 14 percent; Whio Production Interest - 5 percent
- OMV New Zealand (Operator): Whio Current Interest - 30 percent; Whio Production Interest - 69 percent
- Todd Exploration Ltd: Whio Current Interest - 35 percent; Whio Production Interest - 16 percent
- Horizon Oil (New Zealand) Ltd (a subsidiary of Horizon Oil): Whio Current Interest - 21 percent; Whio Production Interest - 10 percent
Cue will provide weekly progress reports during the drilling of Whio-1.
WHAT DO YOU THINK?
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.
- ExxonMobil Racks Up Discoveries in Guyana Block Eyed by Chevron
- Oil Market Sentiment Has Improved Significantly
- EU, US Eye Collaboration on Nuclear Materials
- USA Driving Activity to Increase to All-Time Highs
- TC Energy to Sell Prince Rupert Gas Pipeline Project to First Nation
- EU Electricity Export to Ukraine Up 94 Percent in Two Years
- China Coal Output Falls for First Time since Government Ordered More
- BP Pulse Buys One of Europe's Largest Truck Stops
- UK CCUS Plans Outdated: Think Tank
- North America Enters Rig Loss Streak
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- EIA Drops 2024 Henry Hub Gas Price Forecast
- EIA and Standard Chartered Offer Up Latest Oil Price Predictions
- Red Sea Region Sees Another Watershed Incident
- Chevron Oil Project in Kazakhstan to Cost $48.5B
- OPEC Voices Encouragement after IEA Affirms Support for Oil Security
- Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra
- Ukraine Hits Third Russian Refinery In Escalating Drone Strikes
- Rystad Looks at the Buzz Around White Hydrogen
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Is Peak Oil Demand Close?
- Vessel Sinks in Red Sea After Missile Strike
- JP Morgan, Standard Chartered Reveal Latest Oil Price Forecasts
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Rystad Forecasts Net Production of Top Permian Producers in 2024
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension