Monumental Energy Corp. has announced the successful restart of commercial production at the Waihapa H1 well, located in the onshore Taranaki basin, New Zealand. This operation marks a strategic advancement for the company, achieving natural high-pressure oil flow from the 7 new perforations made in the Mount Messenger formation.
A High-Performance Discovery Without Stimulation
The perforation was performed across 7 zones at 6 meters depth, each showing results exceeding expectations. Notably, this natural flow was achieved without resorting to stimulation techniques, beyond the use of perforating guns, which demonstrates the productive potential of the reservoir, which shares characteristics with the adjacent Cheal field, responsible for more than 12 million barrels in a limited area.
Production began on March 13, 2026 and, although a stabilized flow rate has not yet been reported, Monumental anticipates publishing consolidated data once testing is completed.
Optimized Infrastructure for Immediate Response
The Waihapa H1 well is located less than 100 meters from the Waihapa processing plant, which has enabled the associated gas to be connected directly for immediate processing and sale. Currently, approximately 1 terajoule (TJ) of gas per day is being processed, which is marketed in a market where natural gas prices range between $10 and $15 USD per MCF.
The company faces logistical constraints due to production volume. For now, 3 tanker trucks make continuous trips between the well and the Port of New Plymouth.
Strategic Alliance with NZEC and Long-Term Vision
This advancement is the result of the financing agreement between Monumental Energy and New Zealand Energy Corp. (NZEC) , which enables the execution of joint workover projects on petroleum licenses PML 38140 and PML 38141. Both licenses are located in the Taranaki basin, and NZEC holds a 50% interest. The well was initially drilled in 2008 and produced more than 1,500 barrels per day from the Tikorangi formation.
Expansion Prospects in the Region
Monumental continues to consolidate its presence in New Zealand, focusing on a dual strategy of short-term oil production and long-term natural gas development. In addition to its operations at Waihapa, the company maintains royalties on other projects, such as the Copper Moki wells and the Salar de Turi lithium project in Chile.
With the restart of Waihapa H1, Monumental strengthens its position as a relevant player in the energy transition, maximizing existing assets through smart partnerships and efficient technical execution.
Source: Monumental Energy