ConocoPhillips Plugs Karewa-1

ConocoPhillips and its partners have plugged and abandoned their Karewa-1 well off the west coast New Zealand's North Island.

Drilling manager Steve Butler said it was standard ConocoPhillips practice for wildcat wells to be plugged and abandoned and that ConocoPhillips would not be making any official announcements regarding Karewa-1, which was drilled off Port Waikato.

Karewa-1 was ConocoPhillips second commitment well for PEP 38602, the second five-year term of which expires on April 1.

Diamond Offshore's semisub, Ocean Bounty, spudded Karewa-1 for ConocoPhillips, New Zealand partner Todd Energy and Japan's Inpex Corporation on Boxing Day, December 26. The partners released the rig on January 6.

Todd Energy earlier said the Karewa-1 well would target a shallow late Miocene-aged prospect in the southernmost part of PEP 38602 with a target depth of approximately 2000 meters.