Current Projects
An overview of Todd Energy operated exploration permits is presented below. Several other permits are operated through joint ventures with partner exploration companies.
Onshore-Nearshore Western Taranaki Peninsula (PEP 51149)
In September 2008 Todd Energy (70%) and Mighty River Power (30%) were awarded exploration permit PEP 51149, covering 653.8 km2 of the western Taranaki Peninsula from the western boundary of Egmont National Park to the coastal fringe beyond Cape Egmont. Acquisition of new 2D seismic data was undertaken during the summer of 2008/9, together with reprocessing of existing 2D seismic data. Interpretation is in progress. The Joint Venture has been expanded to include two new participants, with equities now held by Todd Energy (40%), MRP (30%), Cue Energy (20%), Mosaic (10%).
For further details go to Taranaki Onshore Permit Round press release.
Onshore Taranaki (PEP 51156)
In September 2008, Todd Energy (100%) was awarded exploration permit PEP 51156, covering 90.4 km2 immediately southwest of the Mangahewa Field. The committed work programme for the first 15 months of the permit term includes reprocessing of multiple 3D seismic surveys and drilling of one exploration well. The seismic reprocessing programme has commenced, and the Waitui-1 exploration-appraisal well on the southern flank of the Mangahewa anticline was spudded on 29 December 2009.
For further details go to Taranaki Onshore Permit Round press release.
Offshore Northern Taranaki (PEP 38602)
In April 2006, Todd Energy completed acquisition of a 90 km2 3D seismic survey in PEP 38602 over the Karewa gas discovery. Detailed interpretation of the seismic and well data, in combination with evaluation of appropriate development technologies, has led to the award of a 15-year Appraisal Extension for PEP 38602 to allow continued investigation of resource size, development options and gas markets for future development of the Karewa Gas Field.
Offshore Southern Taranaki (PEP 51313)
Todd Energy was awarded exploration permit PEP 51313 on 30 July 2009 for an initial 5-year term. Originally covering 1775 km2 in the southern Taranaki Basin, the permit was expanded to 2595 km2 in August 2009 to include the prospective Tasman Ridge trend formerly located within PEP 38494. Reprocessing of existing 2D seismic data in the permit area is in progress, and acquisition of a 200 km2 3D seismic survey over the Matariki Prospect occured in April/May 2010. A new Joint Venture has been formed to explore this permit, comprising Todd Energy (50%), Horizon Oil (30%) and Cue Energy (20%).
