Swift pursues more Taranaki prospects

Swift Energy Co., Houston, is moving to delineate and develop a possibly giant discovery in New Zealand's Taranaki basin.Swift has started acquiring more seismic data on PEP 38719 and engineering production facilities, ordered pipe for three wells, and lined up a rig to resume drilling this July.The company will first appraise its Rimu-A1 oil discovery and later evaluate the Kauri and Tawa prospects on the 356-sq-km block. The Kauri structure is partly offshore.The company lists reserve potential of 20-100 million boe at Rimu currently, 200-500 million boe at Kauri, and 100-300 million boe at Tawa.New Zealand produces about 45,000 b/d of condensate and crude, and press reports credit ...

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