Organic geochemistry and 1D-basin modeling in the Taranaki Basin, New Zealand: Implications for deltaic-source rocks of the cenozoic oil and condensate reservoirs

The Taranaki Basin in New Zealand is an area of active exploration for oil and condensate. This research focuses on integrating geochemical characteristics and 1-D basin modeling to Late Cretaceous to Miocene source rock systems, along with oil and condensate data from fifty-seven wells in the Taranaki Basin. The geochemical study reveals that the oil and condensate samples were generated from clay-rich source rocks, containing mixed organic matter, with large amounts of terrestrial organic matter input. These source rocks were deposited in fluvial to fluvio-deltaic environments under oxic conditions. The presence of oleanane in both oil and condensate samples suggests that the source rocks had a significant terrestrial component and deposited during the Late Cretaceous to Cenozoic. Using various biomarker proxies, oil-source rock correlation along with 1-D basin modeling revealed that the oil and condensate were mainly derived from the Late Cretaceous Rakopi and Paleocene Farewell formations at different maturity stages. The oils were generated within the peak-mature oil window, while the condensates primarily resulted from the secondary cracking of oil taking place in the source rock within the gas generation window. This finding is consistent with the 1-D basin modeling results. The model shows that the Paleocene Farewell source rock has achieved the primary stage of oil generation (0.55–0.95 Easy %Ro), contributing to most of the discovered oils in the Cenozoic reservoir rocks. Meanwhile, the Late Cretaceous Rakopi source rock reached the gas window with a higher vitrinite reflectance of more than 1.30 Easy %Ro, indicating greater gas generation potential. •Cenozoic oil and condensate reservoirs of the Taranaki Basin have API values between 23.2° and 59. 0°.•The oils and condensates were generated from deltaic clay-source rocks and deposited under oxic conditions.•These oils and condensates are thermally mature, with higher maturity level for the condensates.•The oils and condensates were generated from Farewell and Rakopi source rocks.