Kea Petroleum Inks Deal for Drilling of Puka-3 Well in PEP 51153 in NZ
MEO Australia Limited, on behalf of its wholly owned subsidiary MEO New Zealand Pty Limited, announced Wednesday that Kea Petroleum Limited, the Operator of PEP 51153 in New Zealand's onshore Taranaki Basin has executed a contract with Drill Force New Zealand Ltd for the drilling of Puka-3.
Puka-3 is targeting Mt Messenger formation sands at about 5,183 feet (1,580 meters) True Vertical Depth that have been interpreted from the recent 19.3 square miles (50 square kilometers) 3D seismic survey carried out in the south western part of PEP 51153. MEO has recently completed reprocessing of this survey to optimise the target location.
Preparations for Puka-3 are advanced with the well expected to spud in late July. Puka-3 will be drilled from the same well pad as the producing Puka-1 and Puka-2 wells. MEO will become entitled to a 30 percent share of Puka oil production upon completion of Puka 3.
MEO’s CEO and MD Jurgen Hendrich commented on the announcement:
“We are very pleased that the Operator has secured a suitable drilling rig and look forward to the successful drilling of the Puka-3 well.”
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.
- MEO Australia Seeks Shareholder Approval to Rename Firm as Melbana Energy (Sep 28)
- MEO Australia: 4 Companies Interested in Beehive Farm-Out Deal (Sep 12)
- MEO Australia Provides Update on Projects in Australia, NZ & Cuba (Aug 15)
Company: Kea Petroleum plc more info
- TAG Oil Gets Approval to Take 70% Operating Stake in NZ's PEP51153 (Jun 06)
- MEO Withdraws Application to Assume Operatorship of NZ Permit PEP51153 (Feb 25)
- MEO to Takes Over as Operator of NZ's Exploration Permit PEP51153 (Jan 19)