Australia’s Origin Energy Resources plans to drill a deep-water exploration well in New Zealand’s Canterbury basin as it commits to a fourth year of work on its PEP 38262 permit.
Origin said drilling would target the Carrack/Caravel prospect, in about 1000 metres of water about 65 kilometres off Dunedin, after proving up using recently shot 2D data. The company said the prospect included two distinct accumulations, Caravel in the north of the block and Carrack in the south. The combined prospect covers about 300 square kilometres and is estimated to contain a mean 750 million barrels of recoverable oil, or 2.7 trillion cubic feet of gas and 500 million barrels of condensate, in the Cretaceous Herbert formation. Reserves would double if hydrocarbons were struck in the underlying Kawau Sandstone. The Herbert formation and Kawau Sandstone were shown to be hydrocarbon-bearing in the nearby Galleon-1 well, drilled in 1985. Origin said it was seeking a deep-water well to sink the exploration well, as well as farm-in partners for what it said was a high-risk, high reward play.
Read More
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment