Canadian partner TAG Oil told the Toronto Stock Exchange late last week that Supplejack South would follow immediately after the Ensign International Energy Services (formerly OD&E) Rig 19 had finished drilling the nearby Konini-1 well for operator Bridge Petroleum and its PEP 38751 partners.
Austral Pacific Energy chief executive Dave Bennett had previously said Supplejack South was scheduled to be drilled after Pukengahu-1 in PEP 38716 (operator Austral 52.9%) – probably early in 2006.
But TAG president Drew Cadenhead said he expected Rig 19 to spud Supplejack South-1 in early December as the rig was expected to reach the 2000m target depth of Konini-1 tomorrow.
Both Pukengahu and the Supplejack sidetrack are shallow wells targeting the Mioene-aged Mount Messenger formation – the producing horizon as at the nearby Cheal oil pool in PEP 38738.
Supplejack South-1 is a follow-up to the Supplejack-1 dual-zone gas-condensate discovery made earlier this year in PEP38741.
The new well will have a surface location in PEP38741, but will be directionally drilled to reach a true vertical depth of approximately 2,000m in PEP38765, testing a 3D seismically identified “sweet spot” about 700m from the Supplejack-1 discovery.
High oil prices and ever-increasing domestic gas prices, coupled with nearby existing infrastructure, are making small discoveries such as Supplejack commercial, though they may only contain a few million barrels of liquids or bcf of gas.
Immediately after Supplejack South-1 Rig 41 will move south to spud the Arakamu-1 exploration well in PEP38757 (TAG 100%). Arakamu-1 will be yet another shallow well testing multiple Miocene-aged targets and should take less than three weeks to reach its 2250m TD.
The PEP 38751 partners are: operator Bridge Petroleum (33.33%), TAG Oil (NZ) (33.33%) and Westech Energy NZ (33.3%).
The PEP38765 partners are: operator Tap Oil (50%), Austral Pacific Energy (37.67%) and TAG Oil (13.33%).
The PEP 38741 partners are: operator Austral Pacific Energy (30%), Tap Oil (50%) and Tag Oil (20%).
