Oil and Gas Production and High-Impact Acreage
TAG Oil's growth opportunity in New Zealand cannot be exaggerated. Not only does the Company already control 100% of a stable and modern oil and gas production facility, TAG also controls an extensive portfolio of 3-D defined, high-impact Taranaki Basin prospects located in the heart of a proven prolific discovery fairway. This provides lower risk but high-impact drilling and near-term reserve and production growth opportunities that are complimentary to our extensive production infrastructure, which now has some of the lowest oil field operating costs in the industry.
A Conventional and Unconventional Oil Frontier
In the East Coast Basin, TAG is pursuing the independently assessed multi-billion barrel unconventional resource potential that has been demonstrated in the Waipawa and Whangai source-rock formations. These oil-rich, naturally fractured formations that are widespread across the East Coast Basin compare favorably to tight oil formations such as the Bakken Shale in the Williston Basin. TAG is also drilling numerous conventional Miocene prospects at depths between 250m - 2000m with a mid-range resource potential in excess of 1.7 billion barrels.