TAG Oil confirmed on Monday that 12.9ha of land has been purchased on Upper Durham Road.
The three-paddock lifestyle block will likely be used to drill between two to four more wells with two at a cost of $5 million and four at $12.5 million, TAG told the Stratford Press.
``Oil and gas produced from the Sidewinder field will increase New Zealand's export receipts by approximately $6 million per annum or more,'' they said.
The 12.9ha is the site of the company's Sidewinder gas discovery and around 20 local firms and contractors will be employed to maintain the plant once production commences.
Inglewood Community Board chairperson Jean Pierce says she is not concerned about the purchase and the industry brings benefits to the province.
Nearby resident Marie Connolly says otherwise.
``We have concerns about the noise from the flaring off at the production station. They told us that we were out of the zoning area but we're actually right behind it,'' she says.
Marie credits the company, however, for not hiding its intentions.
``They have been very upfront with us all around here.''