MIL-OSI Economics: Mereenie Production Wells WM27 & WM28 Completed And Rig Released

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Source: New Zealand Oil and Gas

Headline: Mereenie Production Wells WM27 & WM28 Completed And Rig Released

The operator of the Mereenie joint venture, Central Petroleum Limited (ASX:CTP) (“Central”) has advised that drilling and completion of the new production wells WM-27 and WM-28 has been completed and the Easternwell Rig 27 was released on 23 September 2021.
Central’s announcement and media release is attached, the key points are:

both wells have been completed for production and WM-28 is now online and producing from both the Pacoota-1 & -3 reservoir intervals;

the WM-27 well has been completed as a single zone Pacoota-1 producer, will be tied in pending receipt of customary regulatory approvals and is expected to come online in the near future; and

the Mereenie recompletions and development programme is anticipated to add approximately 10 TJ/d of wellhead capacity (Joint Venture 100%)

New Zealand Oil & Gas Group has agreed to purchase interests in three producing Northern Territory assets from Central. All conditions precedent to the transaction have now been satisfied and the parties will move to complete the transaction on 1 October 2021in accordance with the terms of the sale and purchase agreement.

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