New Zealand Oil & Gas Ltd. revealed Monday that total depth of 15,899 feet (4,846 meters) was reached Saturday, Jan. 18 in theMatuku well in petroleum exploration permit (PEP) 51906 offshore Taranaki, New Zealand.
The next operation is pulling out of the hole prior to running wireline logs. The Kan Tan IV (mid-water semisub) began drilling operations Saturday, Nov. 30. Matuku-1 is in 426 feet (130 meters) of water.
Meanwhile the 154 square mile (400 square kilometer) ‘Kaka’ 3D seismic survey in the same permit was completed the same day, ahead of schedule. The Kaka survey began Jan. 5 using the survey vessel Polarcus Alima.
The primary target in the Matuku well, Kapuni Group Farewell F Sands, were found to be porous but there were no significant gas or oil shows.
Oil shows were seen in D Sands and North Cape Formation units deeper in the well.
Geoscientists will now analyze these results to form a view about the play types around the Kahurangi Trough, which was thought to be a source kitchen for a success case at Matuku.
The Kaka 3D survey will provide valuable information about the Paleocene Farewell and Eocene Mangahewa Formations. This dataset along with the Matuku well results should assist in understanding the source of the Tui, Maui and Maari fields neighboring PEP 51906.
Participants in PEP 51906 are OMV New Zealand (Operator) 65 percent; Octanex 22.5 percent; and New Zealand Oil & Gas 12.5 percent. OMV New Zealand are paying 100 percent of the Matuku-1 well costs under the conditions of their farm in agreement with Octanex.