Rig Equipment Problems, Adverse Weather Delay Manaia-2 Drilling

Australia-based Cue Energy Resources Ltd (Cue) reported Friday that the Manaia-2 well in the Taranaki Basin off New Zealand is at a depth of 2,474 feet (754 meters) measured depth below rotary table (MDRT) at 0600 hours local time Sept. 27. Current operations are preparing to drill ahead in 12.25 inch x 13.5 inch hole. Mechanical problems with the rig equipment and adverse weather conditions have delayed drilling since the last report.

Manaia-2 is located in Petroleum Mining Permit (PMP) 38160 in the offshore Taranaki Basin. The well is operated by OMV New Zealand Ltd. and is being drilled from the Kan Tan IV (mid-water semisub).

The well is located 0.78 miles (1.25 kilometers) north of Maui-4 (which discovered the Manaia field) and 3.73 miles (6 kilometers) to the southwest of the Maari field well head platform. The well has a planned total depth of 9,350 feet (2,850 meters) and drilling is expected to take about 30 days. The undeveloped Moki and Farewell Formation reservoirs that will be appraised by Manaia-2 have the potential to add 11 million barrels of gross reserves to the Manaia field.

Cue will provide weekly progress reports during the drilling of Manaia-2.

Participating interests in PMP 38160 are as follows:

Cue Taranaki Pty Ltd. - 5 percent
Horizon Oil International Ltd.(a subsidiary of Horizon Oil Ltd.) - 10 percent
Todd Maari Ltd. - 16 percent
OMV New Zealand Ltd. - 69 percent (Operator)


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.

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.