Exploration & Production | Drilling & Completions | Drilling / Well Results | Top Story
NZEC Taranaki Wells Producing at 151 BO/d
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New Zealand Energy Corp. has reported an update on the Company's exploration and production activities in the Taranaki Basin of New Zealand's North Island.
Waitapu-2 commenced continuous production at the end of December 2012 and produced at an average rate of 151 barrels of oil per day over the first two weeks of January. The three Copper Moki wells (CM-1, CM-2 and CM-3) have collectively produced at an average rate of 273 barrels of oil per day over the first two weeks of January. All four wells are producing light (~40° API), high-quality oil from the Mt. Messenger formation. Oil is trucked approximately 45km to the Shell-operated Omata Tank Farm in New Plymouth and sold at Brent pricing, generating a top-tier netback.
Completion operations are underway at two wells on the Arakamu…
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