Field news and more

Towards a more stable oil market

Paris-based International Energy Agency (IEA) released its monthly oil market report on Thursday. The report stated global supply and demand for crude oil will be balanced three out of the four quarters in 2018, assuming OPEC production and normal weather conditions remain in place. OPEC compliance for its output restrictions of 1.2 million bpd currently…

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Global oil demand still on the rise

Oil touches most things that we use in our daily life: phone, computer, traditional cars, even electric cars (parts), and basically anything made through industrial means.  The world uses approximately 98 million barrels of oil per day, and with developing countries such as China, India and Africa growing economically, the IEA predicts demand will be…

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One giant game of Survivor

Eric Nuttall, Senior Portfolio Manager at Sprott Energy Fund released Sprott’s August Commentary, giving TAG Oil and our readers his thoughts on the energy investment world, which he calls, “one giant game of Survivor.” Although institutional ownership is at its lowest level on record at 6.5%, and the general bearish nature of things seems to…

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TAG Oil promotes science

Once again, TAG Oil is sponsoring the Taranaki Primary Schools Science Fair, which was held September 28 and 29 in New Plymouth. Our operations manager, Tim Gray, was chosen to be one of the judges for the fair. This year, students were asked to show how they think energy could be created in the future…

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The O&G production story in charts

National Bank Financial (NBF) Energy’s Before the Bell newsletter provided a couple interesting charts, perfectly titled: Houston…we have a problem. And we well may. Where is the big, promised production growth?  No really, where is it? Another interesting and complementary chart is the Seasonal Texas Oil Well Completions graph.  As you can see, 2017 is…

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Ten more years of North Sea oil and gas?

A recent oil industry study reveals that with just 10% of recoverable oil and gas left in the United Kingdom, the UK may soon have to import all their oil and gas needs. The study estimates recoverable UK reserves will last another decade. University of Edinburgh scientists who carried out the study also did an…

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Seismic survey complete!

Benjamin Franklin once said, “An investment in knowledge pays the best interest,” and TAG Oil takes that advice to heart. Most recently, we’ve been gathering detailed information on TAG’s Australia Permit, PL17, located in Queensland’s Surat Basin. The Brigalow Seismic Survey of PL17, which was recently completed by Geokinetics (Australasia) Pty Ltd., covered ~95km2 surface coverage…

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The charts don’t lie

The market reaction to the recent inventory numbers have been interpreted as bullish, as the charts and stats from financial services firm Raymond James show.  Although crude oil prices have been stuck between $45 and $50 for the past month, the response to the IEA increasing their demand forecast (among other events), shows that crude…

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Storm clouds for US shale

Who’s daring enough to short several U.S. shale oil and gas drillers? Why it’s short-selling expert Jim Chanos, president and founder of Kynikos Associates, of course. Mr. Chanos spoke at the Delivering Alpha Conference last week and gave insight on why he believes the Wall Street opinion on US shale and gas stocks is faulty. …

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