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The Perth-based company said it planned to complete the remaining three gas zones for production at a later date.
Garwood-1 is about 112km west-southwest of Houston in Colorado County, Texas.
Discovered in June, the Garwood field is the third discovery to have been brought online by Target since listing 10 months ago.
It follows the Snapper-A-1 discovery, which came online at 1.04 million cubic feet of gas per day in August, and the Thoroughbred-1 well, which started production at 355,000 cubic feet per day in June.
Target holds a 25% stake in all three wells and fields.
