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hydrocarbon

Oil & Gas

Tag Oil hits gas in New Zealand

Tag Oil has hit hydrocarbon bearing sands in the onshore Taranaki Basin in New Zealand. The Cheal-E6 step out well intersected more than nine metres of net oil and gas bearing sands in the Mount Messenger formation.

Oil & Gas

Kea sees revenue spike from Puka wells

New Zealand-focused oil and gas explorer Kea Petroleum has seen a spike in profits as a result of hydrocarbon sales. The company announced its preliminary results for the year ending May 2014, with revenue increasing to £2,087,000, up from £829,000 in 2013. Kea said the increase was associated with the production of hydrocarbons from Puka-1 and Puka-2.