TAG Oil Commences 'Aggressive' Drilling Campaign at Cheal Field

Taranaki Basin
(Click to Enlarge)

TAG Oil is now commencing an aggressive drilling campaign targeting the shallow formations at the 100%-controlled Cheal oil and gas field. The Cheal discoveries are located in the lightly explored Petroleum Mining Permit 38156 in the onshore Taranaki Basin, New Zealand.

Following on from TAG's initial multi-zone Cheal discoveries, which are currently producing light oil and gas from the main producing Mt. Messenger Formation (~1800m) as well as the Urenui Formation (~1400m), Cheal-B4ST is the first of several "step-out" wells targeting these proven, producing zones in the Cheal discovery area. Cheal-B4ST will re-enter the suspended Cheal-B4 well, which previously recorded strong oil shows.

TAG Oil CEO Garth Johnson said, "Numerous drill-ready prospects have been identified at Cheal, providing us with opportunities for high-impact reserve and production growth. We plan to fully exploit these shallow zones with an objective to build our near term cash flow, as we prepare to pursue the deeper condensate-rich gas formations and TAG's East Coast Basin fractured oil shale prospects."

All additional production arising from TAG's Cheal drilling campaign can be brought on production rapidly and cost effectively at TAG Oil's 100%-owned production station located in the Cheal development area.

Petroleum Mining Permit 38156

Petroleum Mining Permit 38156 is located in the main onshore Taranaki Basin play fairway where prolific light oil and condensate-rich gas fields have been discovered within numerous play levels.

Though the 7500-acre (11 section) permit area is only lightly explored, PMP 38156 contains oil and gas discoveries in multiple zones: the shallower Cheal Mt. Messenger and Urenui Formation discoveries and TAG Oil's deep, condensate-rich, Cardiff gas discoveries in the Kapuni Formation (4000m).

The Cardiff gas/condensate discovery is situated on trend and among several sizable Kapuni Formation discoveries including the offsetting Shell/Todd-operated landmark Kapuni gas/condensate field, New Zealand's first major onshore discovery.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Drilling Supervisor - Land
Expertise: Company Man|Drilling Consultant|Drilling Foreman / Drilling Supervisor
Location: Opportunities Throughout the Lower 48
Completions Supervisor
Expertise: Company Man|WellSite Supervisor|Workover or Completion
Location: Richmond, TX
Field Engineer-Wireline
Expertise: Drilling Foreman / Drilling Supervisor|Perforation
Location: Odessa, TX
search for more jobs

Brent Crude Oil : $50.47/BBL 0.98%
Light Crude Oil : $49.72/BBL 1.09%
Natural Gas : $2.76/MMBtu 1.09%
Updated in last 24 hours