Kea Fails to Find Commercial Oil at Puka-3

New Zealand-focused junior explorer Kea Petroleum announced Monday that its Puka-3 well is being plugged and abandoned after failing to encounter commercial hydrocarbons. 

After being drilled to a depth of 7,218 feet, the well found a thicker-than-expected Mount Messenger reservoir section of approximately 99 feet. Kea said that the sands turned out to be predominantly water wet, although an oil-water contact was interpreted in the upper part of the sands.

The quality of the sands above the contact was deemed not to be commercial and the well will not be completed as a producer.

Kea Chairman Ian Gowrie-Smith commented in a company statement:

"We are disappointed with the result of the Puka-3 well, however the data we have recovered will be used to plan development of the Puka field and allow us to devise a suitable program moving forward."



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