Sharechat Logo

TAG Oil banks another 1,100 barrels of oil daily

Wednesday 7th March 2012

Text too small?

Canadian listed oil and gas company TAG Oil is producing 4,000 barrels of oil a day from its onshore Taranaki fields after adding a further 1,100 barrels a day from its Cheal-B7 well, and has another 3,500 barrels daily ready to come on-stream.

TAG says Cheal-B7 is achieving a natural daily flow rate at an average of more than 1,100 barrels of light oil, as well as associated gas.

“TAG has another 3,500 barrels of equivalent per day of production, which is drilled and sitting behind pipe awaiting the expansion of the company’s infrastructure, which will allow this ‘behind pipe’ production to be brought onstream,” TAG said in a statement.

These production figures do not include any production from the Cheal-B6, Cheal-A9 and Cheal-A10 wells, which are currently being production tested after a run of 14 successful, consecutively drilled wells.

Another 10 wells are planned in Taranaki this year, along with workovers to some existing wells, with  further expansion to the Cheal production facility now underway to all current and future Cheal wells to produce concurrently.

Bond Offer: Infratil Ltd, 7.2 year & 10.2 year unsecured unsubordinated bond

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZ dollar sags after avalanche of data and central bank action
Fonterra board starts planning chair succession
Fulton Hogan keeps Australian civil construction unit
Time for congestion pricing has come - NZIER
Colliers defends KiwiBuild as 'far from a colossal failure'
Pushpay shares rise as cost-cutting upgrades earnings guidance
20th September 2019 Morning Report
NZ dollar weaker against British pound on EC president's Brexit optimism
Todd plans Kapuni drilling campaign
MARKET CLOSE: NZ shares gain; appetite for KFC helps Restaurant Brands hit record

IRG See IRG research reports