Greymouth Petroleum confirms gas flows from new Taranaki well

Greymouth Petroleum said its new well has flowed at rates exceeding 7 terajoules of gas a day. Photo / NZME

Greymouth Petroleum has confirmed “material” gas and condensate flows are coming from its new well near Stratford.

The well - TMO-C1 - was spudded on September 12.

It went on to reach a depth of 5267 metres by November 12.

TMO-C1 was drilled in Greymouth’s Turangi Mining Permit, which was granted following the discovery of the Turangi gas condensate field in 2005.

The well follows three earlier successful wells drilled by Greymouth in 2024 - Turangi-21, Turangi 17 and Kaimiro-20s1.

“All four wells are online and producing into the gas and oil liquids export transmission networks, with TMO-C1 in test phase,” Greymouth said.

The company said its new well had flowed at rates exceeding 7 terajoules of gas a day.

“This is significant with virgin pressures encountered and flow rates exceeding comparable gas and hydrocarbon flow rates achieved in the early years of the concession.

“With the TMOC1 well flow, Greymouth can make increased gas volumes available to the market, enhancing security of supply,” the company said.

“It bodes well for ongoing regional drilling activity.”

New Zealand-owned Greymouth supplies about 20% of the New Zealand gas market.