After drilling Takapou-1, the Ocean Bounty semi-submersible rig moved south to spud Pateke-1, the third well in the current program for the PEP 38460 partners. Yesterday New Zealand Oil and Gas said the Bounty was over 205m down towards the targeted Eocene-aged Kapuni F sands at a depth of approximately 3700m. This reservoir is expected to be reached in early August.

Takapou-1 was drilled by operator Shell Todd Oil Services as a tight hole for partners Shell NZ, Todd Energy, OMV Petroleum and UK listed company Electro-Silica, with no information being released publicly during the campaign.

“Yes, Takapou was plugged and abandoned; they didn’t find anything worthwhile. They never thought they would as it was essentially a commitment well to fulfill work program obligations,” one commentator told EnergyReview.Net.

However, another said the well results would have disappointed the partners as the permit was part of the still highly regarded Western Platform acreage.

Success at Pateke-1, which is only 4km from the Amokura oil strike made earlier this year, and at the planned nearby fourth well Kiwi-1, will greatly enhance commercial development plans by the PEP 38460 consortium, headed by operator New Zealand Overseas Petroleum (a Transworld Oil subsidiary).