Business
New Zealand Energy Production and Operational Update
Vancouver, British Columbia--(Newsfile Corp. - November 4, 2014) - New Zealand Energy Corp. (T...
About this update from New Zealand Energy Corp.
[{"type":"text","content":"New Zealand Energy Production and Operational UpdateVancouver, British Columbia--(Newsfile Corp. - November 4, 2014) - New \nZealand Energy Corp. (TSXV: NZ) (OTCQX: NZERF) (\"NZEC\" or the \"Company\")  today \nprovided an update on production and development activities on the Company's \nproperties in the Taranaki Basin of New Zealand's North Island. \nTotal corporate production during October 2014 averaged 214 \nbarrels of oil per day (\"bbl/d\") net to NZEC, slightly ahead of the September \naverage of 205 bbl/d and in line with the average of 215 bbl/d for the first \nnine months of 2014. Production from the TWN wells was up slightly in October, \ndespite a five-day shutdown of the Waihapa facilities to allow for inspection \nand recertification of a number of pressure vessels. No significant repairs were \nnecessary and the vessels were recertified for another four years of \nservice.\nProduction from the Copper Moki field remains stable, with an \naverage of 136 bbl/d during October and an average of 135 bbl/d since March 1, \n2014, when the Waitapu-2 well came online. In addition to oil production, during \nOctober NZEC sold four terrajoules of Copper Moki natural gas production.\n\n \n \n Average Daily Oil Production net to NZEC \n (bbl/d)    \n \n \n Jan \n Feb \n \n Mar \n \n Apr \n \n May \n \n Jun \n \n Jul \n \n Aug \n Sep \n \n Oct\n \n \n \n \n \n 202 \n 228 \n \n 233 \n \n 228 \n \n 201 \n \n 231 \n \n 202 \n \n 205 \n 205 \n \n 214\n \n \n \n \n  \n  \n  \n  \n  \n  \n  \n  \n  \n  \nThe TWN Joint Arrangement (\"TWN JA\") (the 50/50 NZEC/L&M \nEnergy partnership that owns the TWN Licenses) successfully completed the \nworkover of the Waihapa-2 well during October. Surface facility work is underway \nto prepare for installation of a jet pump, with the expectation that the \nWaihapa-2 well will commence production in early December. \nThird-party revenue from the Waihapa Production Station since \nclosing the TWN Acquisition totals approximately NZ$1.81 million to NZEC.\nDuring October, NZEC and L&M Energy were granted an \nextension to November 22, 2015 for drilling of a commitment well on the Alton \nPermit. The Company has identified a drill target (Horoi) in the Mt. Messenger \nFormation and has received all necessary resource and la...