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PEP 52717 Offshore Canterbury Basin, New Zealand: Multi TCF liquids rich Gas Condensate Opportunity
New Zealand Oil & Gas Ltd and Beach Energy Ltd present an offering of equity in PEP52717(Clipper block), located in the offshore Canterbury Basin of New Zealand. The primary target contains 5 TCF of wet gas, while secondary reservoirs give a total mean upside potential of ∼11 TCF. The Clipper block area has multi-vintage 2D seismic control and six exploration wells, drilled between 1970 and 2014. All regional well and seismic data are freely available from the New Zealand Government. The PEP52717 target is in a proven petroleum system with stacked play potential and several economic pathways. The next work program obligation in PEP52717 is a well commitment by April 10, 2018, with the well to be drilled by June 10, 2020. The PEP52717 joint venture aims to have new partners in place by November 30, 2017 to allow time to meet the drilling commitment date.
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