The Caravel-1 well, operated by Anadarko Petroleum, in New Zealand’s Canterbury Basin, has reached total depth.

According to Origin Energy which owns a share in the area, the exploration well was drilled to a depth of 2,692 metres below rotary table and is currently being plugged and abandoned after encountering gas shows.

“A detailed analysis of sub-surface information will take place in the coming months to guide any future activities in the area,” Origin Energy said in a statement.The well was drilled by the drillship Noble Bob Douglas.

PEP 38264 Joint Venture: Anadarko New Zealand Company (Operator) 45%, Origin Energy Limited 45%, Discover Exploration Canterbury NZ BV 10%.

News that Anadarko did not find oil at the well was warmly welcomed by Greenpeace New Zealand.

Greenpeace says the reported failure of Texan company Anadarko to find oil off both the Raglan and Otago coasts “confirms the Government needs to stop supporting foreign oil companies and start backing our local clean energy industry.”

“If its correct they have failed to find oil for a second time there are many who will open a Speights tonight in celebration of the news that Texan oil company Anadarko are about to batten the hatches and get out of here,” said Greenpeace campaigner Steve Abel.