Pateke 4H well raises Tui reserves estimate

Offshore staff

SYDNEY, Australia -- Pan Pacific Petroleum and New Zealand Oil and Gas have completed a review of the increase in Tui reserves attributable to the Pateke-4H well. The estimate has a total increase in 2P recoverable reserves of 2.4 MMbbl gross.

Pan Pacific said the Pateke-4H estimate is to be reviewed and updated when the well is on production. The well is scheduled to be tied into the FPSO in 1Q 2015, with production in 2Q.

Participants in the well are Pan Pacific Petroleum NL, 15.0%; AWE Ltd. (operator), 57.5%; and New Zealand Oil & Gas, 27.5%.

01/07/2015

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