Abstract: A tubing hanger apparatus and method for installing coiled tubing in oil and gas wells utilizes a tubing head assembly having a vertical flow passage therethrough, a hydraulically operated piston in an upper portion of the flow passage; a double tapered slip cup and an annular packoff assembly in a lower portion of the flow passage, and a contractible double tapered slip assembly disposed between the piston and slip cup. The piston, in a normally raised position and the slip in a normally radially expanded position allows coiled tubing to be lowered or raised therethrough and through the slip cup and packoff assembly. The piston is lowered by hydraulic pressure to apply a vertical force that radially contracts the slip assembly to grip the tubing and support the weight thereof and the weight is transferred through the slip cup to expand the packoff assembly and seal the tubing.