EXPLORATION

Cutter-1 a wet blanket

THE Cutter-1 exploration well failed to encounter hydrocarbons in the primary objective Shag Point Formation, which was water-wet, partners Tap Oil and Australian Worldwide Exploration said today.

Cutter-1 a wet blanket

Gas shows were recorded in the shallower Mohiki Formation sandstones. But wireline logs indicated the formation has poor reservoir quality and was unlikely to be commercially significant, they said.

Operator Tap Oil said it was encouraged by these gas shows and the “inference they have for the nearby Barque prospect, which is located more proximate to the hydrocarbon-generating source rock, and where similar seismic characteristics are observed”.

Once the Ocean Patriot rig has completed operations at Cutter-1, it will move to the Taranaki Basin to undertake AWE’s eight-well exploration and development program. It said the first well was planned to be Tieke-1.

Cutter-1 is in the PEP 38259 permit, about 23km off the east coast of New Zealand’s South Island and 200km south-southwest of Christchurch in the offshore Canterbury Basin.

Aside from AWE and Tap, which have a 25% and 40% stake, respectively, the two other joint venture partners in the well are Beach Petroleum (20%) and Anzon (15%).

TOPICS:

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

editions

ENB Cost Report 2023

ENB’s latest Cost Report findings provide optimism as investments in oil and gas, as well as new energy rise.

editions

ENB Future of Energy Report 2023

ENB’s inaugural Future of Energy Report details the industry outlook on the medium-to-long-term future for the sector in the Asia Pacific region.

editions

ENB Cost Report 2021

This industry-wide report aims to understand current cost levels across the energy industry

editions

ENB Social Licence Report 2021

In its second year, this research now includes trends and new findings surrounding impacts and responses as the energy industry seeks to secure and maintain a social licence to operate.