Oil drilling progress
CV.Z. Press Association) NEW PLYMOUTH, April 11. Almost s3m has been spent so far on Shell B.P. Todd’s Turi-1 off-shore oil well, and the company estimates it could have at least 5000 ft to go before getting into "possible pay dirt.” After 54 days of oper-j ation. drilling is only down' to the 5600 ft mark and the; company estimates it has! lost up to 36 days. The consortium confirmed that over-all running costs for the drilling operation run out at $45,000 a day and that mobilisation costs of getting the Penrod rig to New Zealand topped $500,000.
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Bibliographic details
Press, Volume CXV, Issue 33816, 12 April 1975, Page 16
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101Oil drilling progress Press, Volume CXV, Issue 33816, 12 April 1975, Page 16
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