New Zealand: Apache to drop East Coast basin farmout

Apache Corp.’s New Zealand affiliate has informed TAG Oil Ltd., Vancouver, BC, that it will elect not to undertake the Phase 2 program under the East Coast basin farmout dated Sept. 1, 2011.

The farmout between Eastern Petroleum (NZ) Ltd., Orient Petroleum (NZ) Ltd., and Apache New Zealand Ltd. related to drilling in the East Coast basin. Eastern and Orient are indirect subsidiaries of TAG.

TAG intends to continue and complete the Phase 1 program. Under the farmout, ANZ is obligated to pay all costs and expenses actually incurred or committed in respect of the Phase 1 program.

TAG Chief Executive Officer Garth Johnson said, “We look forward to executing our long-term goal for the East Coast; to drill and hopefully prove the concept of unconventional oil potential in this frontier basin.”

Related Articles

Tethys reports second successful gas well in Kazakhstan

03/20/2014 Tethys Petroleum Ltd. reported the success of the second shallow gas exploration well of its 2014 program on the Akkulka block in the Caspian regio...

BOEM: Firms bid $850 million in high bids in central gulf lease sale

03/19/2014 The US Bureau of Ocean Energy Management reported that its central Gulf of Mexico Lease Sale 231 received 380 bids from 50 companies on 326 blocks,...

CNOOC makes gas discovery in Qiongdongnan basin

03/19/2014

CNOOC Ltd. has made a natural gas discovery in the east Lingshui Sag of the deepwater area in the South China Sea’s Qiongdongnan basin.

Cairn, FAR to drill exploration wells offshore Senegal

03/19/2014

FAR Ltd., Perth, will participate in the drilling of two deepwater exploration wells offshore Senegal next month.

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected