Kan Tan IV (Frigstad Offshore) (Semisub)

Update on Pateke-4H drilling

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08 April 2014

AWE Limited (ASX: AWE) reports that as at 06:00 hours (6.00am NZST) today, the Pateke-4H development well, including the sidetrack section, was at a measured depth of 4,083m with the 9 5/8 inch casing successfully installed and cemented to a depth of 3,669m. Preparations are under way for the drilling of the next interval using an 8 ½ inch drilling assembly to drill horizontally through the reservoir section to a planned measured depth of 5,361m. The Kapuni F10 sandstone objective has already been intersected on prognosis with oil shows and real time logging measurements indicating the likely presence of an oil bearing reservoir. The commercial significance of the oil shows will not be clear until the horizontal drilling is completed and the reservoir size and quality is fully assessed. The Pateke-4H development well is in PMP 38158 and AWE is the Operator. Located in the offshore Taranaki Basin, New Zealand, PMP 38158 contains the Tui, Amokura and Pateke fields and has been producing since 2007. Pateke-4H is targeting a mapped northern extension of the currently producing Pateke field. The well is being drilled in water depth of approximately 124m with a planned total measured depth of 5,361m, including a 1,272m horizontal section. If successful, the well will be completed for subsequent tie-back to the Tui FPSO (“Umuroa”) for production in 2015.

Source: http://www.awexplore.com/IRM/Company/ShowPage.aspx/PDFs/3047-65571215/AWEsPateke4Hdrillingupdate


More News for Operator: Frigstad Offshore

2 Dec 2013

'Kan Tan IV' spuds Matuku-1 well in New Zealand

Drilling is underway in the Matuku-1 well in PEP 51906 offshore Taranaki, the operator has advised. New Zealand Oil & Gas holds a 12.5 per cent interest in the well. The Kan Tan IV began drilling operations at 1.50PM on Saturday, 30 November. Matuku-1 is in 130 metres of water. It is expected to take 45 days to drill to the projected target depth of about 4750 metres (measured depth below the rotary table). The Matuku prospect lies south of the producing Tui oil fields and west of the Maui gas field. The well targets the F Sand reservoir sandstones of the Kapuni Group. Secondary targets are sandstones of the Kapuni Group D Sand and Pakawau Group North Cape Formation. The Kan Tan IV is a semi-submersible rig operated by Frigstad Offshore Limited. The rig was previously deployed successfully in PMP 38160 (Manaia). Participants in PEP 51906 are OMV New Zealand (Operator) 65 per cent; Octanex 22.5 per cent; and New Zealand Oil & Gas 12.5 per cent.

7 Jan 2014

New Zealand Oil & Gas provide Matuku-1 well update

New Zealand Oil & Gas Ltd (NZOG) announced today that the Matuku-1 exploration well being drilled by the ‘Kan Tan IV’ semisub in New Zealand has reached a depth of 3,417m. The well was spudded on November 30th 2013 by the semisub unit in 130m of water and was anticipated to take around 45 days to complete. The casing for the well has been run to 3,409m and current operations involve completing drilling down to a depth of 4,754m.

20 Jan 2014

'Kan Tan IV' completes Matuku-1 well in New Zealand

New Zealand Oil & Gas Ltd (NZOG) announced today that the Matuku-1 exploration has been drilled to its total depth of 4,846m by the ‘Kan Tan IV’ semisub rig. Total depth was reached on the 18th January 2014 having begun on the 30th November 2013 in 130m of water. The next stage of operations is to pull the drill string out of the hole prior to running wireline logs. Upon completion of operations at the well, the ‘Kan Tan IV’ rig will be released by OMV to begin its next contract with AWE, also in New Zealand.

31 Jan 2014

Matuku well completed, 'Kan Tan IV' moves to Pateke-4H

The Matuku-1 well in PEP 51906 offshore Taranaki has been plugged, the operator has advised. The semi-submersible drilling rig, Kan Tan IV, will next move to the Pateke prospect in the Tui oil fields in PMP 38158. Drilling operations at Matuku began on 30 November and the well was drilled to 4,846 metres. As previously advised, the well did encounter expected sandstones in the primary and secondary targets (Kapuni Group F-sands and North Cape Formation) but commercial volumes of oil and gas were not present. Pateke-4H is a northern extension of the existing Pateke reservoir in the Tui fields that are already producing. Pateke-4H is expected to take around two months to drill to a depth of 3,655 metres. A separate advisory will be issued when drilling commences in the well. Participants in PEP 51906 are OMV New Zealand (Operator) 65 per cent; Octanex 22.5 per cent; and New Zealand Oil & Gas 12.5 per cent. In Tui the partners are AWE , 57.5 per cent (operator); New Zealand Oil & Gas, 27.5 per cent; and Pan Pacific Petroleum, 15 per cent.

5 Feb 2014

AWE prepares for Pateke-4H drilling operations

AWE Limited (ASX: AWE) reports that at 03:15 hours today (New Zealand Daylight Time) the handover of the Kan Tan IV semi-submersible drill rig to AWE, as Operator of the PMP 38158 joint venture, was completed and that the rig is moving into position in preparation for drilling the Pateke-4H development well. The Pateke-4H development well is the first of a two well drilling program in PMP 38158, located in the offshore Taranaki Basin, New Zealand. Pateke-4H will target a mapped northern extension of the currently producing Pateke field. The well will be drilled in water depth of approximately 124m with a planned total measured depth of 5,361m, including a 1,272m horizontal section. AWE estimates that Pateke-4H could increase field recovery by approximately 2.5 million barrels (gross). If successful, the well will be completed in preparation for a subsequent subsea tie-back to the Tui FPSO for production. Following the drilling and completion of Pateke-4H, the Kan Tan IV drill rig will relocate to a location approximately 13km to the northeast of the Tui field and drill the Oi exploration well.

10 Feb 2014

'Kan Tan IV' begins drilling of Pateke-4H well in New Zealand

AWE Limited (AWE) reports that the Pateke-4H development well commenced drilling at 10.45am (NZDT) on Sunday, 9 February 2014. As of 06:00am today, operations had drilled a 36” hole to a depth of 234 metres and preparations are being made to run and cement a 30” conductor. The Pateke-4H development well is in PMP 38158, AWE is the Operator and is utilising the 'Kan Tan IV' semisub rig to drill the well. Located in the offshore Taranaki Basin, New Zealand, PMP 38158 contains the Tui, Amokura and Pateke fields and has been producing since 2007. Pateke-4H is targeting a mapped northern extension of the currently producing Pateke field. The well is being drilled in water depth of approximately 124m with a planned total measured depth of 5,361m, including a 1,272m horizontal section. If successful, the well will be completed for subsequent tie-back to the Tui FPSO (“Umuroa”) for production in 2015.

18 Mar 2014

AWE prepares to sidetrack its Pateke-4H appraisal well in New Zealand

Pan Pacific Petroleum has been advised by AWE, the Operator of PMP38158, that as of 06:00hrs the Pateke-4H appraisal/development well being drilled by the semi-submersible drilling rig the “Kan Tan IV” was preparing to side-track. Despite considerable effort it proved impossible to resolve the mechanical drill string difficulties experienced during the original drilling (as reported earlier) leading to a decision to abandon the lower part of the hole. This lower section has now been cemented off and isolated and the Operator will drill a side-track from a measured depth of 3,375m BRT (below rotary table) to approximately 4,110m BRT. The side track will penetrate the the F10 reservoir at a horizontal angle and the 9 5/8 inch casing will be set just above the F10 reservoir, as planned. The well will then be drilled horizontally through the F10 reservoir for an additional 1250m to a total measured depth of 5,361m BRT. The Kapuni F10 sandstone objective was intersected on prognosis in the original hole with oil shows and real time logging measurements indicating the likely presence of an oil bearing reservoir, which is very encouraging. However, the commercial significance of the oil shows will not be clear until the horizontal drilling has been completed. Pateke-4H is targeting contingent resources contained in Pateke North a potential extension of the Pateke Field which is not being accessed by Pateke-3H, the current producing well on the Pateke structure. If successful the well will be completed for subsequent tie-back to the Tui FPSO for production with first oil expected before the end of Q1 2015.

15 Apr 2014

AWE reports rising drilling costs as operator plans second sidetrack well

AWE Limited (ASX: AWE) reports that as at 06:00 hours (6.00am NZDT) today preparations are being made to drill a second sidetrack on the Pateke-4H development well. Operations have been unable to drill past an obstruction in the lower portion of the first sidetrack (ST-1) and a second sidetrack (ST-2) will be drilled from a measured depth of 3,587m with an 8 1/2 inch drilling assembly. The forward work plan requires ST-2 to be drilled to a depth of approximately 4,110m and intersect the F10 reservoir at a horizontal angle of approximately 90 degrees. Drilling will continue through the F10 reservoir section to a planned total measured depth of 5,361m, following which a 6 5/8 inch production liner will be installed. The Kapuni F10 sandstone objective has already been intersected on prognosis with oil shows and real time logging measurements indicating the likely presence of an oil bearing reservoir. The commercial significance of the oil shows will not be clear until the horizontal drilling is completed and the reservoir size and quality is fully assessed. Based on the additional work required to mitigate the operational difficulties encountered to date, gross pre-completion well costs have increased beyond the pre-spud estimate of USD 55 million (AWE share USD 32 million). An updated estimate of pre-completion well costs will be issued after the horizontal drilling is completed and the production liner has been installed. The Pateke-4H development well is in PMP 38158 and AWE is the Operator. Located in the offshore Taranaki Basin, New Zealand, PMP 38158 contains the Tui, Amokura and Pateke fields and has been producing since 2007. Pateke-4H is targeting a mapped northern extension of the currently producing Pateke field. The well is being drilled in water depth of approximately 124m with a planned total measured depth of 5,361m, including a 1,272m horizontal section. If successful, the well will be completed for subsequent tie-back to the Tui FPSO (“Umuroa”) for production in 2015.

22 Apr 2014

AWE updates status of Pateke-4H well

AWE Limited (AWE) reports that at 06:00 hours (6.00am NZDT) today the Pateke-4H development well was at a measured depth of 3,863m and drilling ahead on the planned trajectory with an 8 1/2 inch drilling assembly after successfully side-tracking from the 9 5/8 inch casing at 3,587m. The second sidetrack (ST-2) will be drilled to a depth of approximately 4,055m and intersect the F10 reservoir at a horizontal angle of approximately 90 degrees. Drilling will continue through the F10 reservoir section to a planned total measured depth of 5,381m, following which a 6 5/8 inch production liner will be installed. The Kapuni F10 sandstone objective has already been intersected on prognosis with oil shows and real time logging measurements indicating the likely presence of an oil bearing reservoir. The commercial significance of the oil shows will not be clear until the horizontal drilling is completed and the reservoir size and quality is fully assessed. The Pateke-4H development well is in PMP 38158 and AWE is the Operator. Located in the offshore Taranaki Basin, New Zealand, PMP 38158 contains the Tui, Amokura and Pateke fields and has been producing since 2007. Pateke-4H is targeting a mapped northern extension of the currently producing Pateke field. The well is being drilled in water depth of approximately 124m with a planned total measured depth of 5,381m, including a 1,326m horizontal section. If successful, the well will be completed for subsequent tie-back to the Tui FPSO (“Umuroa”) for production in 2015.

29 Apr 2014

AWE updates status of Pateke-4H well

AWE Limited (ASX: AWE) reports that as at 06:00 hours (6.00am NZDT) today the Pateke-4H development well was at a measured depth of 4,700m and drilling ahead on a horizontal trajectory through the Kapuni F10 sandstone reservoir with an 8 1/2 inch drilling assembly. The reservoir was intersected at 4,023m and operations have drilled 677m horizontally through the F10 reservoir section with approximately 681m remaining to reach a planned total measured depth of 5,381m, following which a 6 5/8 inch production liner will be installed. Results to date are positive with oil shows and “real time” measurement logs consistent with pre-drill estimates. The commercial significance of Pateke-4H will be determined once horizontal drilling is completed and the reservoir size and quality is fully assessed. The Pateke-4H development well is in PMP 38158 and AWE is the Operator. Located in the offshore Taranaki Basin, New Zealand, PMP 38158 contains the Tui, Amokura and Pateke fields and has been producing since 2007. Pateke-4H is targeting a mapped northern extension of the currently producing Pateke field. The well is being drilled in water depth of approximately 124m with a planned total measured depth of 5,381m, including a 1,326m horizontal section. If successful, the well will be completed for subsequent tie-back to the Tui FPSO (“Umuroa”) for production in 2015.

6 May 2014

AWE Pateke-4H well reaches total depth

AWE Limited (AWE) has reported that at 06:00 hours (6.00am NZDT) today the Pateke-4H development well was at a total measured depth of 4,772m, including a 749m horizontal section through the reservoir. The total depth was revised from the original 5,381m target due to the high quality of the reservoir encountered and to ensure a stable well bore was achieved for effective completion and production. Installation of a 6 5/8 inch slotted production liner has been completed. Preparations are being made to run the completion and suspend the well to enable production in Q1 2015 following the installation of sub-sea flowline infrastructure and tie-back to the Tui FPSO. The oil-bearing properties of the Kapuni F10 reservoir are positive. Further analysis is required to determine the expected recovery from Pateke-4H, but initial evaluation suggests a resource range consistent with the pre-drill estimate of approximately 2.5 million barrels gross. Based on the significant additional work required to mitigate the mechanical difficulties and drill the two sidetracks, gross pre-completion well costs have increased beyond the pre-drilling estimate of USD 55 million (AWE share 32 million). The revised estimated gross pre-completion well cost is USD 99 million (AWE share USD 57 million) with completion costs estimated at USD 12 million gross. The Pateke-4H development well is in PMP 38158 and AWE is the Operator. Located in the offshore Taranaki Basin, New Zealand, PMP 38158 contains the Tui, Amokura and Pateke fields and has been producing since 2007. Pateke-4H is in water depth of approximately 124m and has been drilled into a northern extension of the producing Pateke field.

13 May 2014

AWE to spud Oi-1 exploration well

AWE Limited (AWE) reports that as at 06:00 hours (6.00am NZDT) today, the Pateke-4H development well was running the production tubing and associated equipment. The well will then be suspended for later production. The installation of a sub-sea flow-line and ancillary control equipment to the Tui Field gathering system to enable the Pateke-4H well to be flowed to the Tui Field FPSO “Umuroa”, is scheduled to commence in late Q1 calendar year 2015. Following the suspension of Pateke-4H, the ‘Kan Tan IV’ drilling rig will be relocated 12km to the northeast of the Tui field to drill the Oi-1 exploration well. On current planning Oi-1 is expected to spud during the last week of May.

20 May 2014

'Kant Tan IV' begins mobilisation to spud Oi-1 well in New Zealand

AWE Limited (AWE) reports that as at 06:00 hours (6.00am NZDT) today the Pateke-4H development well was successfully completed and suspended for production at a later date. Production from Pateke-4H is planned for 1H calendar year 2015 following the installation and commissioning of a sub-sea flow-line and ancillary control equipment connecting the well to the Tui Field gathering system. This work is scheduled to commence in Q1 2015. Preparations are being made to relocate the ‘Kan Tan IV’ drilling rig 12km to the northeast of the Tui field for the spudding of the Oi-1 exploration well location. On current planning Oi-1 is expected to commence drilling during the last week of May and a separate announcement will be made on commencement of drilling. The Pateke-4H development well is in PMP 38158 and AWE is the Operator. Located in the offshore Taranaki Basin, New Zealand, PMP 38158 contains the Tui, Amokura and Pateke fields and has been producing since 2007.

2 Jun 2014

AWE commences exploration drilling at Oi-1 well

AWE Limited (AWE), as operator of Petroleum Mining Permit 38158 offshore Taranaki, New Zealand, advises that the semi-submersible drilling rig ‘Kan Tan IV’ commenced drilling the Oi-1 exploration well at 18:30 hours (6.30pm) NZDT on Friday, 30 May 2014. The Oi-1 exploration well is located approximately 12 kilometres northeast of the Tui Area Oil Fields in water depth of approximately 120 metres. As at 06:00 hours (6.00am) NZDT today, operations had run and cemented 30 inch casing to 229 metres and was drilling ahead in a 17 ½ inch hole at a depth of 510 metres. The Oi-1 exploration well will be drilled vertically to a planned total depth of 3,881 metres. The well objective is to evaluate the hydrocarbon potential of a 4-way dip closed structure similar to the producing Tui, Amokura and Pateke fields and it will target the same F10 reservoir sandstones. The Oi prospect, in a discovery success case, represents a best estimate Prospective Resource of 11 million barrels of recoverable oil (gross, unrisked P50 estimate). AWE is participating in the Oi-1 exploration well at a reduced equity of 31.25% and has the option to increase its equity participation in any future appraisal drilling and development to 57.5% by exercising existing buyback provisions. Gross dry hole drilling costs are estimated at USD 27 million (net USD 8.4 million to AWE at 31.25%) and the well is expected to take approximately 30 days to complete. In the event of a commercial discovery, it is envisaged that any subsequent development of the Oi field would involve a tie back to the nearby Tui production facility, the FPSO “Umuroa”, where sufficient production capacity is available.

10 Jun 2014

AWE abandon Oi-1 well and prepare to spud Oi-2

AWE Limited (AWE), as Operator of Petroleum Mining Permit 38158 offshore Taranaki, New Zealand, advises that due to operational challenges in managing near surface unconsolidated formations the Oi-1 exploration well will be abandoned and a new well, Oi-2, will be drilled from an adjacent location. As at 06:00 hours (6.00am) NZDT today, the semi-submersible drill rig, ‘Kan Tan IV’ had been moved 150 metres to the new well location and preparations were being made to commence drilling the Oi-2 exploration well. The Oi-1 exploration well was drilled to a planned depth of 1,507 metres in a 17 ½ inch hole. Installation of a 13 3/8 inch casing was not completed due to well bore instability at a shallow depth. Subsequent attempts to sidetrack the well were unsuccessful and, consequently, the joint venture decided to abandon the Oi-1 well. AWE has revised the drilling program for the Oi-2 exploration well to further mitigate risks of near surface well bore instability and to then continue the program as previously planned. A 17 ½ inch hole will be drilled to a shallower depth of approximately 550 meters and a 13 3/8 inch casing will be set to enable a drilling fluid system to be established and improve management of conditions in the well bore. A 12 ¼ inch hole will then be drilled to approximately 1,500 metres before a 9 5/8 inch casing is set. An 8 ½ inch hole will then be drilled to a planned target depth of 3,881 metres. The Oi-2 exploration well is located approximately 12 kilometres northeast of the Tui Area Oil Fields in water depth of approximately 120 metres. The well objective is to evaluate the hydrocarbon potential of a 4-way dip closed structure similar to the producing Tui, Amokura and Pateke fields and it will target the same F10 reservoir sandstones. The Oi prospect, in a discovery success case, represents a best estimate Prospective Resource of 11 million barrels of recoverable oil (gross, unrisked P50 estimate). In the event of a commercial discovery, it is envisaged that any subsequent development of the Oi field would involve a tie back to the nearby Tui production facility, the FPSO “Umuroa”, where sufficient production capacity is available. AWE is participating in the Oi exploration wells at a reduced equity of 31.25% and has the option to increase its equity participation in any future appraisal drilling and development to 57.5% by exercising existing buyback provisions. Gross dry hole drilling costs for the Oi program have been revised and are now estimated at USD 40 million (net USD 12.5 million to AWE at 31.25%). The Oi drilling program is now estimated to take approximately 46-48 days to complete.

13 Jun 2014

'Kan Tan IV' spuds Oi-2 well

AWE Limited (AWE), as Operator of Petroleum Mining Permit 38158 offshore Taranaki, New Zealand, advises that the semi-submersible drilling rig ‘Kan Tan IV’ commenced drilling the Oi-2 exploration well at 05:30 hours (5.30am) NZDT on Friday, 13th June 2014. As at 06:00 hours (6.00am) NZDT today, operations were drilling a 36 inch hole to a planned depth of 230 meters in preparation for the installation of a 30 inch surface conductor. The Oi-2 exploration well is located approximately 12 kilometres northeast of the Tui Area Oil Fields in water depth of approximately 120 metres. The well objective is to evaluate the hydrocarbon potential of a 4-way dip closed structure similar to the producing Tui, Amokura and Pateke fields and is targeting the same F10 reservoir sandstones. The Oi-2 exploration well will be drilled vertically to a planned total depth of 3,881 metres and is forecast to take approximately 31 days to complete. The Oi prospect, in a discovery success case, represents a best estimate Prospective Resource of 11 million barrels of recoverable oil (gross, unrisked P50 estimate). AWE is participating in the Oi-1 exploration well at a reduced equity of 31.25% and has the option to increase its equity participation in any future appraisal drilling and development to 57.5% by exercising existing buyback provisions. In the event of a commercial discovery, it is envisaged that any subsequent development of the Oi field would involve a tie back to the nearby Tui production facility, the FPSO “Umuroa”, where sufficient production capacity is available.

24 Jun 2014

AWE releases further Oi-2 drilling update

AWE Limited (AWE), as Operator of Petroleum Mining Permit 38158 offshore Taranaki, New Zealand, reports that the Oi-2 exploration well has completed the installation and testing of well control equipment and drilling operations have recommenced. As at 06:00 hours (6.00am) NZDT today, the Oi-2 exploration well was at a measured depth of 550 metres and the ‘Kan Tan IV’ rig was running in hole with a 12 ¼ inch drill bit to commence drilling to the planned section target depth of 1,500 metres. The Oi-2 exploration well is located approximately 12 kilometres northeast of the Tui Area Oil Fields in water depth of approximately 120 metres. The well objective is to evaluate the hydrocarbon potential of a 4-way dip closed structure similar to the producing Tui, Amokura and Pateke fields and is targeting the same F10 reservoir sandstones. The Oi-2 exploration well will be drilled vertically to a planned total depth of 3,881 metres and is forecast to take approximately 31 days to complete

1 Jul 2014

Weather conditions pump up price for Oi-1 and Oi-2 drilling

AWE Limited (AWE), as Operator of Petroleum Mining Permit 38158 offshore Taranaki, New Zealand, reports that, as at 06:00 hours (6.00am) NZDT today, the Oi-2 exploration well was at a measured depth of 1,505 metres. The 9 5/8” casing string has been installed and cemented at a depth of 1,487 metres. Preparations are underway to commence drilling ahead to the primary objective, the F10 sandstones anticipated at 3,690 metres. Well costs have been adversely impacted by winter weather conditions in the offshore Taranaki Basin, with the total cost of the Oi-1 and Oi-2 wells now estimated at US$50.9 million (AWE share US$15.9 million), which includes a contingent provision for weather downtime. The Oi-2 exploration well is located approximately 12 kilometres northeast of the Tui Area Oil Fields in water depth of approximately 120 metres. The well objective is to evaluate the hydrocarbon potential of a 4-way dip closed structure similar to the producing Tui, Amokura and Pateke fields and is targeting the same F10 reservoir sandstones. The Oi-2 exploration well will be drilled vertically to a planned total depth of 3,881 metres and is forecast to take approximately 40 days to complete.

8 Jul 2014

AWE set to plug Oi-2 duster

AWE Limited AWE), as Operator of Petroleum Mining Permit 38158 offshore Taranaki, New Zealand, reports that the Oi-2 exploration well reached TD at a measured depth of 3,908 metres at 20:45 hours (8.45pm) NZDT on Monday 7th July 2014. The well intersected the primary target Kapuni F10 sands and underlying secondary targets. No significant oil shows were encountered and real time well data indicated that the reservoir is water bearing. Preparations are being made to plug and abandon the well. The Oi-2 exploration well is located approximately 12 kilometres northeast of the Tui Area Oil Fields in water depth of approximately 120 metres.

15 Jul 2014

AWE plugs Oi-2 exploration well in New Zealand

Pan Pacific Petroleum (PPP) has been advised by AWE, the Operator of permit PMP38158 that the Oi-2 exploration well, which is being drilled by the semi-submersible drilling rig ‘Kan Tan IV’, that as of 06:00hrs operations are proceeding to plug and abandon Oi-2 after which the rig will then abandon Oi-1 prior to release.

21 Jul 2014

AWE releases 'Kan Tan IV' following P&A work

AWE Limited (AWE), operator of Petroleum Mining Permit 38158 offshore Taranaki, New Zealand, reports that plug and abandonment operations for the Oi-1 and Oi-2 exploration wells have been completed and that the ‘Kan Tan IV’ drill rig was released at 13:00 hours (1.00 pm) NZDT on Saturday, 19th July 2014.

24 Jul 2014

'Kan Tan IV' spuds Whio-1

Cue Energy Resources Ltd (Cue) has been advised by OMV New Zealand Ltd (OMV), the Operator of permit PEP 51313, that the Whio-1 exploration well spud at 21:45 hours (local time) on 23rd July. The rig came on contract on 19th July and was towed 40 km from the previous location arriving at the Whio location on 20th July. Whio-1 is being drilled from the semi-submersible drilling rig ‘Kan Tan IV’ at a surface location 110 km south-west of New Plymouth, Taranaki, New Zealand and 4.5 km south-east of the Maari well-head platform. The well has a planned total depth of 2,879m MDRT (2,754m TVDRT) and the well path will be deviated northwards from the surface location to avoid possible shallow drilling hazards above the subsurface targets. The primary reservoir objectives at Whio are the M2A Sandstone and Mangahewa Formation which are oil bearing in the Maari Field. Secondary reservoir objectives are the Moki, Kaimiro and Farewell formations. Cue’s assessment of Whio indicates mean unrisked prospective resources of 18 million barrels of oil (100% basis). The close proximity of Whio to existing production infrastructure at the Maari Field provides potential opportunities for early development of any discovered petroleum. A successful well at Whio will open additional exploration potential along the Tasman Ridge to the south of Maari, including the Matariki prospect.

1 Aug 2014

Whio-1 well drilling ahead at over 1,000m

Cue Energy Resources Ltd (Cue) has been advised by OMV New Zealand Ltd (OMV), the Operator of permit PEP 51313, that at 06:00 hours (local time) on Friday 1st August 2014, the Whio-1 well was drilling ahead at a depth of 1,049m MDRT in the 16” hole section. Whio-1 is being drilled from the semi-submersible drilling rig ‘Kan Tan IV’ at a surface location 110 km south-west of New Plymouth, Taranaki, New Zealand and 4.5 km south-east of the Maari well-head platform. The well has a planned total depth of 2,879m MDRT (2,754m TVDRT) and the well path will be deviated northwards from the surface location to avoid possible shallow drilling hazards above the subsurface targets. The primary reservoir objectives at Whio are the M2A Sandstone and Mangahewa Formation which are oil bearing in the Maari Field. Secondary reservoir objectives are the Moki, Kaimiro and Farewell formations. Cue’s assessment of Whio indicates mean unrisked prospective resources of 18 million barrels of oil (100% basis). The close proximity of Whio to existing production infrastructure at the Maari Field provides potential opportunities for early development of any discovered petroleum. A successful well at Whio will open additional exploration potential along the Tasman Ridge to the south of Maari, including the Matariki prospect.

8 Aug 2014

Cue Energy releases update of Whio-1 well in New Zealand

Cue Energy Resources Ltd (Cue) has been advised by OMV New Zealand Ltd (OMV), the Operator of permit PEP 51313, that at 06:00 hours (local time) on Friday 8th August 2014, the Whio-1 well was at a depth of 1,235m MDRT. Since the last report, 16” hole was drilled to the section TD of 1,235m MDRT and the 13?” casing was run and cemented. The rig is currently preparing to commence drilling ahead in 12¼” hole. Whio-1 is being drilled from the semi-submersible drilling rig ‘Kan Tan IV’ at a surface location 110 km south-west of New Plymouth, Taranaki, New Zealand and 4.5 km south-east of the Maari well-head platform. The well has a planned total depth of 2,879m MDRT (2,754m TVDRT) and the well path will be deviated northwards from the surface location to avoid possible shallow drilling hazards above the subsurface targets. The primary reservoir objectives at Whio are the M2A Sandstone and Mangahewa Formation which are oil bearing in the Maari Field. Secondary reservoir objectives are the Moki, Kaimiro and Farewell formations. Cue’s assessment of Whio indicates mean unrisked prospective resources of 18 million barrels of oil (100% basis). The close proximity of Whio to existing production infrastructure at the Maari Field provides potential opportunities for early development of any discovered petroleum. A successful well at Whio will open additional exploration potential along the Tasman Ridge to the south of Maari, including the Matariki prospect.

15 Aug 2014

Cue Energy releases new update of Whio-1 well drilling in New Zealand

Cue Energy Resources Ltd (Cue) has been advised by OMV New Zealand Ltd (OMV), the operator of permit PEP 51313 that at 07:30 hours (local time) on Friday 15th August 2014, the Whio-1 well was at a depth of 1,582m MDRT in 12.25” hole and is drilling towards the planned total depth of 2,879m MDRT (2,754m TVDRT). Whio-1 is being drilled by the ‘Kan Tan IV’ semisub drilling rig, 4.5km south-east of the Maari well-head platform.

22 Aug 2014

Cue releases fourth drilling report for Whio-1

Cue Energy Resources Ltd (Cue) has been advised by OMV New Zealand Ltd (OMV), the Operator of permit PEP 51313, that at 08:19 hours (local time) on Friday 22nd August 2014, the Whio-1 well was at a depth of 2,670m MDRT in 12.25” hole, and is drilling ahead towards the planned total depth of 2,879m MDRT (2,754m TVDRT). Whio-1 is being drilled from the semi-submersible drilling rig ‘Kan Tan IV’ at a surface location 110 km south-west of New Plymouth, Taranaki, New Zealand and 4.5 km south-east of the Maari well-head platform. Whio-1 is currently being drilled through the deeper reservoir objectives, of which the Mangahewa Formation is the primary target, and which is oil bearing in the Maari Field. The secondary lower reservoir objectives are the Kaimiro and Farewell formations. Preliminary indications suggest the well has intersected reservoir quality sandstones in the targeted formations, which will be assessed in more detail when wireline logs are acquired at Total Depth.

26 Aug 2014

Whio-1 well confirmed as a dry well by OMV

Cue Energy Resources Ltd (Cue) has been advised by OMV New Zealand Ltd (OMV), the Operator of permit PEP 51313, that at 08:10 hours (local time) on Monday 25th Augsut 2014, that the Whio-1 well has reached a total depth of 2,824m MDRT in the Palocene Farewell Formation. Since the previous well report was released, the 12.25” open hole wireline logging has been completed and plans for abandonment are underway. Cue has been advised by OMV that the well encountered sandstones in all objectives as expected, but could not confirm the presence of commercial hydrocarbons. Whio-1 is being drilled by the ‘Kan Tan IV’ semisub.

31 Aug 2014

'Kan TAn IV' begins contract with Shell Todd in New Zealand

The Frigstad Offshore managed semi-submersible drilling rig Kan Tan IV has just completed drilling of WHOI-1 for OMV. The rig has been moved from the WHOI-1 location to the Ruru 2 location to commence the drilling programme for STOS. The Kan Tan IV is managed by Frigstad Offshore Drilling (Cyprus) Ltd on behalf of owner Sinopec Star Petroleum Company Ltd. The rig is an Enhanced Pacesetter delivered by FELS in Singapore in 1983, capable of operating in up to 2,000ft of water depth and equipped with a 18-3/4 15K BOP. The rig completed an extensive refurbishment programme including 5yr SPS and dry docking at Keppel FELS in Singapore at the end of 2012 and was put back into service in Q1 2013, drilling for Eni in South China Sea before mobilising to New Zealand to drill for OMW, AWE and Shell-Todd.

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