Scandoil  

TAG Oil declares abandonment plans at Waitangi Valley-1


Published Sep 17, 2014
TAG Oil Ltd.

TAG Oil Ltd. has agreed that after encountering extreme drilling conditions, including high pressure shallow hydrocarbon zones, in the interest of safety, the surface section of the Waitangi Valley-1 well, located in Petroleum Exploration Permit 38348, will be plugged and abandoned.

CEO Garth Johnson commented; "Waitangi Valley-1 encountered very high hydrocarbon zone pressures at shallow depths that cannot easily be compared to anywhere else in the world. We understood this program would be challenging and we encountered extremely difficult drilling conditions in the first 856m of drilling. After consulting with worldwide drilling experts and considering all data ourselves, we have made a difficult decision to plug and abandon Waitangi Valley-1 before reaching the intended total depth of 3600m, to maintain the safety and integrity of the operation. The well will be abandoned following all regulatory requirements and with no environmental issues encountered to date. The Company's previous guidance for fiscal year 2015 did not include any anticipated production or cash-flow from the Waitangi Valley-1 well."

Tags: TAG Oil Ltd.




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml