Apache and Tag Oil eye up April exploration spud date

By Russell Searancke

 24 February 2012 01:34 GMT

US INDEPENDENT Apache and Canadian co-venturer Tag Oil are aiming to spud in April the first of four exploration wells targeting a new unconventional oil play in the onshore East Coast basin in New Zealand.

Apache made a country entry last year by agreeing to spend up to $100 million in Tag’s exploration permits PEP 38348, PEP 38349 and PEP 50940, which the pair believe could see “a game-changing tight-oil exploration programme targeting massive oil-in-place reserves”.

Apache said last week that it expects this year to drill its first four wells “targeting our new onshore unconventional play”.

Tag said the co-venturers had completed a 2D seismic programme in PEP 38349 and that 2D acquisition in PEP 38348 was under way.

The four planned vertical wells will target the Whangai…

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