The reservoir characteristics and hydraulic flow properties of the Mount Messenger Formation, New Zealand, have been investigated to identify the reservoir quality and factors affecting it. In this study, the porosity-permeability relationship is a significant factor for discriminating the reservoir rock into four groups. Petrophysically, group I has the best storage capacity (max. 30.5%) and the highest permeability (max. 1230 mD), and values of RQI, FZI, RPI, and r35 indicate good to very good reservoir quality, while group IV comprises very low permeability (max. 0.69 mD), and the RQI, FZI, RPI, and r35 values represent impervious reservoir quality, but still, it consists of good porosity values (max. 20.6%). The petrophysical parameters from group II indicate poor to good reservoir quality, whereas group III represents poor reservoir quality. The petrographical studies show the occurrence of abundant intergranular primary porosity only in groups I and II and isolated pores in groups III and IV. Compaction and the presence of the authigenic clay minerals are the dominant diagenetic features destroying the reservoir quality of groups III and IV. The samples of group I are devoid of clay and not susceptible to compaction; this explains that it exhibits potential reservoir properties, while group II has a minor effect of diagenesis. This study reveals that the deep-water turbidite Mount Messenger Formation is a promising reservoir with excellent porosity values and consists of several flow units, which can be treated as an analogous of turbidite deposits in other petroleum basins.