TAG Oil banks another 1,100 barrels of oil daily

Wednesday 7th March 2012

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.

BusinessDesk.co.nz

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