Todd Energy Plans to Enhance Production from McKee Field

Todd Energy has received approval from New Zealand's Crown Minerals for a 22-year extension of its onshore Taranaki McKee mining license PML 38086 to 2025. The current 20-year license expires on November 11, 2003. Todd Energy chief executive Richard Tweedie said a significant enhancement program for the McKee oil and gas field is planned.

The company is planning a gas reinjection project for the McKee field. There is scope to increase ultimate recovery from the McKee wells, which would require some additional capital expenditure, Mr. Tweedie said.

Todd Taranaki Ltd owns 100% of the McKee mining license and associated production facilities and 100% of the Mangahewa mining permit PMP 38150, including production facilities, though Shell Todd Oil Services Ltd operates both sites for Todd Energy.

McKee currently produces about 2000 barrels of oil and 11 million cubic feet of gas per day, while Mangahewa currently produces about 450 barrels of condensate per day and 34 million cubic feet of gas per day.