TAG Oil Finds More Success in Taranaki Basin

TAG Oil has drilled and completed two wells, Sidewinder-A5 and Sidewinder-A6, in the Sidewinder oil and gas field in Taranaki Basin, New Zealand.

Consistent with the original four Sidewinder discovery wells drilled in the field to date, both wells encountered similar quality reservoir sands within the Mt. Messenger Formation at about 2000 meter depth, the company said in a statement.

This new phase of oil and gas exploration drilling has been initiated 22 months after the initial Sidewinder discovery, infrastructure build and successful 4-well drilling program. TAG is now drilling the Sidewinder-A7 step-out with Sidewinder-A8 to follow.

“Given the positive results of these recent wells, we continue to be optimistic for further discoveries within the Sidewinder permit area.“ TAG CEO, Garth Johnson commented. 

TAG Oil is a Canadian-based production and exploration company with operations focused exclusively in New Zealand.