AUSTIN, Texas, June 23, 2011 /PRNewswire/ - During the drilling phase of a natural gas well by TAP Management, Inc. on June 9, 2011, it is believed an over-pressured zone was encountered before reaching the intended 5,800’ depth, causing the company to move locations and giving reason to believe a major shallow discovery may be imminent. A promising future drilling project 100 feet from the location, combined with an extra focus on drilling safety could result in a much higher prospective reward than originally anticipated. In-house petroleum engineer Jeff Welber says, “We are currently gathering information, searching for the source, and designing a well that will mitigate risk.”
TAP Management has been building a portfolio of oil and natural gas production since its founding in November of 2005. It identifies specific targets in oil and gas fields that meet its risk/reward criteria.
TAP Management began executing this strategy by drilling new gas wells in South Texas using three-dimensional seismic technology. It now employs a broad range of tactics to produce oil and gas including purchasing existing production, utilizing forced pooling, and expanding its use of 3D seismic.
Today, TAP Management has producing assets in the South Texas, Gulf Coast, Rocky Mountain and Mid-Continent regions. For more information on TAP Management, Inc. visit www.texog.com.
TAP Management, Inc. Media Relations
SOURCE TAP Management