TAG Oil has completed testing of the new oil and gas discoveries at the Sidewinder-2 well and the Cheal-C1 well, located in the Taranaki Basin, New Zealand.
At Sidewinder-2, TAG completed isolated flow testing on oil and gas-bearing zones.
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The firm encountered additional productive zones in the shallower Urenui formation and in the lower Mt Messenger formation below the main Sidewinder gas zone discovery.
TAG will now begin to commercialise oil production from the lower Mt Messenger zone and will acquire artificial lifting equipment that will best suit the overall Sidewinder exploration and development strategy, according to the company.
TAG CEO Garth Johnson said that the new Mt Messenger discovery will add high net-back oil production to the 5,000boe of behind pipe awaiting commissioning of the Sidewinder production facilities.
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By GlobalData
