Swift Energy Spuds Kauri-E1 Well

Swift Energy spudded the Kauri-E1 well in late May in the onshore Taranaki permit PEP 38719 in New Zealand, targeting the Kauri sands. The company expects to take up to three months to drill and evaluate Kauri-E1, which is the latest in a series of already drilled or planned wells targeting various Miocene, Eocene or Cretaceous sands found in the area. The Kauri sands are found at depths of around 2880-3150 meters in the Rimu-Kauri area.

Second-half drilling plans will allow Swift Energy to better evaluate both the Kauri and Manutahi sands in the Kauri field in PEP 38719.

In addition to Kauri-E1, another delineation well is planned into the Kauri sands and several more wells are planned targeting the Manutahi sands. Swift also plans one or two exploration wells in the permit in the second half of the year.