L&M Energy to Drill New Well in Kahili Gas Field

L&M Energy, along with Mosaic Oil, plans to drill a new well in the dormant Kahili gas condensate field In New Zealand's Taranaki basin, the company said in a statement.

The Kahili field was discovered in 2002 and achieved commercial gas and condensate flows via the Kahili-1B well, which produced 0.18 BCF of gas and 5.53 mbbls of condensate prior to production ceasing unexpectedly in 2004.

The new well is planned to target a larger adjacent gas condensate accumulation interpreted from new seismic mapping, the company said.

 L&M Energy holds 25% interest, and Australian based Mosaic Oil has 75% interest in the project. Mosaic Oil Limited is a wholly owned subsidiary of AGL Energy.