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New Zealand Oil and Gas preparing to drill horizontal section of New Zealand oil well

8/04/2014 by

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New Zealand Oil and Gas and its Tui project partners are preparing to drill the horizontal section of their Pateke-4H oil well in the offshore Taranaki Basin, New Zealand.

The Kapuni F10 sandstone objective has already been intersected as expected with oil shows and real time logging measurements indicating the likely presence of an oil bearing reservoir.

Operator AWE Limited described the shows as being “encouraging” though the commercial significance will not be clear until horizontal drilling is completed.

Should the well be successful, a decision will then be made whether to complete the well and subsequently tie it back to the Tui floating production, storage and offtake vessel.

Pateke-4H was drilled to test a mapped northern extension of the producing Pateke oil field.

This article has been extracted from http://www.proactiveinvestors.com.au, please click on this link to read the article in full http://www.proactiveinvestors.com.au/companies/news/54202/new-zealand-oil-and-gas-preparing-to-drill-horizontal-section-of-new-zealand-oil-well-54202.html

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