Kea Petroleum Confirmed Oil Exploration and Drilling in Puka 2 Well

Kea Petroleum has given a confirmation that oil drilling is currently in progress in a new oil well in New Zealand’s Taranaki Basin called Puka 2.

The drilling will be up to 1,890 meters deep. It is next to the Puka 1 well and is intended to assess the field.

Oil drilling is set to continue until the middle of December when the activity will be stopped so that a 3D seismic analysis can be performed without interruptions. After which, drilling efforts will resume in January.

The completion of the appraisal well is expected by the early parts of February.

Ian Gowrie-Smith, Kea Petroleum’s Chairman, said that the oil drilling results of the Puka 2, together with that of the 3D seismic survey, should let the company move towards their target of 2,000 barrels per day in a way that is highly sensible and quick. Moreover, it is anticipated to be a huge forward step in the company’s aim to become a profitable producer of oil and gas, added the CEO.

Puka 1 was an oil exploration well of smaller diameter, which wasn’t fit for production since the Taranaki basin’s crude is of a waxy nature. However, Puka 2 should let the company continuously produce oil and natural gas.

The primary discovery well produced flow rates and pressure readings that confirmed the commercial abundance of the basin’s hydrocarbons. From there, the maximum oil and gas flow rates were 310 barrels per day and 1.8 million cubic feet per day, respectively.