Exploration & Production | Top Story
TAG Resumes Drilling Ops at Taranaki Projects
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TAG Oil Ltd. has reported that development, appraisal and step-out drilling, and field optimization work has resumed at the Company's Taranaki oil and gas fields. Located in the main production fairway of the Taranaki Basin on the North Island, New Zealand, TAG is pursuing significant reserve growth through developing and exploiting its lightly explored discovery acreage in the shallow and high impact deep formations.
TAG anticipates that this next wave of low risk development work — focused on oil production growth in the proven Mt. Messenger (~2000m) and Urenui (~1400m) Formations — provides considerable potential for the Company to increase its high netback oil production and add new reserves for many years ahead.
As at March 31, 2014, TAG had a proved and probable reserve base in the…
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