Black gold in Gis­born

DEMM Engineering & Manufacturing - - NEWS -

Gis­borne coun­cil has granted TAG Oil con­sent to drill the Wai­tangi Val­ley-1 well, lo­cated in Petroleum Ex­plo­ration Per­mit 38348 in the East Coast Basin.

Earth­work ac­tiv­i­ties are un­der­way to build an ac­cess road and drilling pad, with con­struc­tion ex­pected to be com­plete and drilling rig mo­bi­lized to the site by the end of June.

Wai­tangi Val­ley-1 will be drilled to a depth of 3600m, with the well tar­get­ing the nat­u­rally frac­tured Waipawa Black Shale and Whangai source rock for­ma­tions.

The Waipawa and Whangai for­ma­tions are re­garded as high­qual­ity source rocks that com­pare tech­ni­cally to suc­cess­ful commercial tight-oil plays in North Amer­ica, such as the Bakken Shale and Ea­gle Ford dis­cov­er­ies.

The po­ten­tial oil re­source in the source rocks on TAG’s land is ap­prox­i­mately 14bn bar­rels of oil ini­tially-in-place.

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