Exploration & Production | Top Story
TAG Spins Bit at Waitangi Well Targeting Waipawa Black Shale
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TAG Oil Ltd. has reported the commencement of drilling operations at the Company's 100%-controlled Waitangi Valley-1 exploration well in Petroleum Exploration Permit 38348, located in New Zealand's East Coast Basin. The Waitangi Valley-1 well spudded on July 23, 2014 and will be drilled to a total depth of approximately 3,600 meters (11,800 feet).
Waitangi Valley-1 is situated 250 kilometers north of TAG's Ngapaeruru-1 unconventional well, and is the Company's second high impact exploration well targeting the Waipawa Black Shale and Whangai Formation source rocks. Waitangi Valley-1 is interpreted with proprietary seismic data to potentially intersect stacked, repeated sections of these naturally fractured, over-pressured oil-and-gas-rich source rocks as well as conventional oil and gas…
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