New Zealand Energy eyes Wairere probe

Taranaki target: New Zealand Energy close to Wairere spud

New Zealand Energy

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Bill Lehane

 17 January 2013 14:12 GMT

Canada’s New Zealand Energy has said it will spud a new exploration probe at the Wairere prospect within days in a bid to add a fifth producing well to its Taranaki Basin onshore oil output.

Executive director Bruce McIntyre said that the junior was getting “top tier netback” rates on its oil, which is trucked to Shell’s Omata Tank Farm 45 kilometres away and sold at Brent prices.

The Vancouver-based, Toronto-listed explorer said that its contracted rig was on site to drill Wairere 1 to a total depth of around 1900 metres targeting the Mt Messenger formation.

The prospect lies 3.75 kilometres southwest from the company’s Copper Moki play, where it has three producing wells, and 7.5 kilometres southwest of the Waihapa production station.  

New Zealand Energy said that Waitapu-2 was now on continuous production…

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