Canadian-based oil and gas company Tag Oil has carried out an initial flow testing at the Cardiff field and further testing operations at the Supplejack-1 well.
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The Cardiff field is located on the Cheal oil permit at the Taranaki Basin, North Island of New Zealand.
Tag Oil holds 100% interest within the Cheal oil permit.
The Cardiff field is situated adjacent to the company’s Cheal field in the deeper Kapuni formation, which has produced 1.4 trillion cubic feet (tcf) of gas and 65 million barrels (mmb) of condensate to date.
The company reported that Cardiff-3 well has successfully conducted an interim flow test with gas and condensate produced to surface.
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By GlobalDataOn the basis of initial results, Tag Oil planned further testing to support the commercialisation of this field through the company’s nearby Cheal A facility.
Three Cardiff wells were previously tested gas-to-surface but due to mechanical damage to the reservoir commercial, production could not be conducted.
After reviewing Tag Oil portfolio, the Cardiff-3 well was identified to become a producer following clean-up operations.
It is estimated that Cardiff resources contain 160 billion cubic feet (bcf) of P50 best estimate gas and 5.5mmb of condensate both initially in place.
However, Tag Oil intends to update this resource estimate made by Sproule International based on the results of the recent testing.
Accordingly, after completion of testing operations and analysis at Supplejack-1 well, Tag Oil represents it as an economic discovery. Initial estimates reveal that the Supplejack-1 well hosts 2.8bcf original gas in place.
Tag Oil CEO Toby Pierce said: “I am very pleased to announce TAG’s successful initial well test results at the Cardiff-3 well. Demonstrating the possibility for economic production at Cardiff is the first step in unlocking the significant resources present in this deeper formation on our 100% Cheal-owned acreage.
"The resources identifed at Cardiff have the potential to become the major source of production for TAG following development.
“Furthermore, the positive results of the Supplejack-1 flow test and analysis represent a new producing location for TAG, with additional drilling opportunities identified. The TAG team is continuing to build off our recent momentum at Cardiff and Supplejack and we will update the market with further information on these two assets in due course.”
This development-stage oil and gas company conducts production and exploration activities in the Taranaki Basin region of New Zealand.
Image: TAG's Cardiff site, 2013. Photo: Courtesy of Tag Oil
