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New Zealand Oil & Gas Limited ( (AU:ECH) ) has shared an update.
Cue Energy Resources Limited announced the successful production commencement of the West Mereenie 29 well, with a gas sales start to the Northern Territory achieved on January 20, 2025. The well exceeded pre-drill expectations with a flow rate of 6 TJ/d, doubling previous performance and enhancing Mereenie’s production capacity towards its 30 TJ/d target. This development underscores the Mereenie field’s continued contribution to the Northern Territory’s energy supply, supported by known reservoirs and infrastructure.
More about New Zealand Oil & Gas Limited
Cue Energy Resources Limited is an Australian Securities Exchange (ASX:CUE) listed company specializing in oil and gas production and exploration. Based in Melbourne, the company generates revenue from its operations in Indonesia, onshore Australia, and offshore New Zealand.
YTD Price Performance: 0.0%
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $51.64M
Find detailed analytics on ECH stock on TipRanks’ Stock Analysis page.