Te Kiri North-1 Well Onshore NZ Spuds

Cue Energy Resources Limited announced Thursday that the Te Kiri North-1 well, located onshore New Zealand within permit PEP 51149, was spud Dec 16.

Operated by Todd Energy Limited, the well will test the Arawhata structure consisting of Mt Messenger and Moki sands of Miocene age, and the Te Kiri North structure consisting of Mangahewa and Kaimiro sands of Eocene age. In a success case, the operator’s best estimate indicates a recoverable mean prospective resource size of 10 million barrels of oil in the Arawhata prospect and around 75 billion cubic feet of gas in the Mangahewa Formation, with an incremental 35 bcf in the Kaimiro Formation, both of which are situated in the Te Kiri North structure.

The well, which will be drilled to 17,716 feet, is expected to take approximately 50 days to reach its target depth. Should hydrocarbon indications be present, a further 12 days have been scheduled for evaluation operations.

Cue CEO David Biggs commented in a company statement:

“I am pleased to announce the spudding of the Te Kiri North-1 well. If successful, production from this field could be connected into the existing pipeline network, providing a new source of cash flow for Cue in the short term.”

Todd Energy Limited holds an 80 percent operated interest in PEP 51149, with Cue Taranaki Pty Ltd holding the remaining 20 percent.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
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
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  OMV Petrom, Hunt Oil Start Experimenta... (Dec 9)
 -  Waitsia JV Approves 2017 Development A... (Dec 9)
 -  SapuraKencana: Short-Term Industry Out... (Dec 8)
 -  Oil Flows From Otakikpo Marginal Field... (Dec 8)
 -  Plexus: More Cuts Expected (Dec 8)


Most Popular Articles

From the Career Center
Jobs that may interest you
Omron/Amphion Driller
Expertise: Derrickman|Driller|Motorman
Location: Houston, TX
 
Omron/Amphion Motorhand
Expertise: Floorhand / Roughneck|Motorman
Location: Houston, TX
 
United States Odessa: Field Engineer - Cased Hole
Expertise: Casing
Location: Odessa, TX
 
search for more jobs

Brent Crude Oil : $54.33/BBL 0.81%
Light Crude Oil : $51.5/BBL 1.29%
Natural Gas : $3.75/MMBtu 1.35%
Updated in last 24 hours