NZOG says Pateke well reserves smaller than initial estimate

NZOG says Pateke well reserves smaller than initial estimate
By Paul McBeth Jan. 6 (BusinessDesk) - New Zealand Oil & Gas, the exploration company, says the Pateke-4H well in the Tui oilfield off the Taranaki coast will boost the field's reserves by less than initially thought. The Wellington-based company and partners AWE and Pan Pacific Petroleum expect the well to lift Tui's recoverable reserves by 2.4 million barrels gross, of which a net 660,000 barrels are attributable to NZOG, it said in a statement. Of that, 1.9 million barrels come from Pateke-4H itself and an additional 500,000 barrels fr...