Copper Moki site
The Copper Moki-1, Copper Moki-2 and Copper Moki-3 wells discovered oil in the Mt. Messenger formation and were subsequently placed into production.
Copper Moki-4, discovered oil in the Urenui formation, which is shallower than the Mt. Messenger formation and produces heavier oil (approx. 29 degrees API) with a pour point of approximately 42 degrees C which is very close to the reservoir temperature. Copper Moki-4 is currently shut in while NZEC completes the well test analyses and economic evaluation of artificial lift systems required to make a production decision.
The Waitapu site is located approximately 1.3 km south of the Copper Moki site.
The Waitapu-1 well was drilled during Q4-2012 to a total measured depth of 2,213 metres (1,926 metres true vertical depth) and encountered a sand interval within the Mt. Messenger formation with oil and natural gas shows. However, the permeability and porosity was such that the well did not immediately yield economic production. The well has been suspended pending further evaluation and/or sidetrack to an alternate target.
The Waitapu-2 well was drilled in Q4-2012 to a total measured depth of 2,085 metres (1,977 metres true vertical depth), encountering approximately 6.2 metres of net pay in the Mt. Messenger formation. The well was flow tested in November and commenced commercial production on December 20, 2012.
The Arakamu site is located approximately 3.8 km southwest of the Copper Moki site and 2.5 km south of the Waitapu site.
The Arakamu-1A well reached measured depth of 2,900 metres in the Moki formation (2,653 meters true vertical depth). NZEC perforated and flow tested two zones in the Moki formation but was unable to demonstrate recoverable hydrocarbons, and the well has been suspended pending evaluation.
The Arakamu-2 well was drilled in November 2012, reaching a measured depth of 2,380 metres (1,870 metres true vertical depth) and encountering 18 metres of net pay over two separate intervals in the Mt. Messenger formation. Following extensive workover operations to recover stuck tubing and a perforating gun, NZEC commenced testing the Arakamu-2 well in mid-March and swab tested both intervals separately and in tandem over 13 days. The well demonstrated strong inflow of oil, gas and water with the oil cut increasing over the last three days of swab testing, to more than 20%. The well is shut in pending the evaluation of artificial lift installation.
The Wairere site is located approximately 3.75 km southwest of the Copper Moki site.
The Wairere-1 well was drilled to a measured depth of 1,971 metres (1,875 metres true vertical depth) but did not encounter any hydrocarbon-bearing sands. The Company immediately sidetracked the well to a second target (Wairere-1A), kicking off at a depth of 394 metres and reaching a measured depth of 2,152 metres (1,879 metres true vertical depth). The Wairere-1A well intersected sands in the Mt. Messenger formation with elevated hydrocarbon indications. The well was cased to total depth and completion is pending.
In May 2012, the Company entered into an agreement (the "Origin Agreement") with Origin Energy Resources NZ (TAWN) Limited, a wholly-owned subsidiary of Origin Energy Limited (collectively "Origin") to acquire upstream and midstream assets (the "Acquisition"). These assets include four Petroleum Licenses totalling 26,907 acres as well as the Waihapa Production Station and associated gathering and sales infrastructure.
Most Popular Stories
- Twitter Names Woman to Board
- Obamacare Doing Just Fine, Ky. Governor Says
- Aspen Contracting Adding 300 Jobs
- Rand Paul Signs up for Obamacare
- Hispanic Employment Improves in November
- U.S. Chamber to Run Ads in Idaho, W.Va.
- U.S. Unemployment Rate Dips to 7 Percent
- Consumer Spending Rises, Incomes Fall
- Trapped Florida Whales Head for Deeper Waters
- American Eagle Issues Weak Q4 Outlook