Field news and more

NZCT AIMS GAMES International Sporting Championships

The 11th NZCT AIMS Games – possibly New Zealand’s biggest sporting event – launched this week in Tauranga. TAG Oil sponsored the sports bags for the Oakura Primary Football team, who have joined 7,500 other athletes from around TNew Zealand to participate in the AIMs games. This year’s athletes come from 228 schools participating in 17 sports, and more than 10,000 attendees are expected to descend upon Tauranga, on the east coast of the North Island. The boys are playing well and are having a great week, and we wish…

Read More >

TAG Oil Proud to be an “Overall Energy Company of the Year” Finalist

Following a rigorous judging process, TAG Oil was delighted to be a finalist in the prestigious Deloitte Energy Excellence Awards, as one of just four companies in the Overall Energy Company of the Year category.

Read More >

Cheal Oil & Gas Field: Good News for Production and Development Drilling

As announced last week, shallow development drilling and production in the Taranaki are averaging about 1,959 barrels of oil equivalent (“boe”) per day, 80% of which is oil. So we're on track with the estimates CEO Garth Johnson and COO Drew Cadenhead gave in TAG Oil's last quarterly call.

Read More >

Cheal South Permit Testing Update

Here are a few pictures of our Cheal South permit (TAG Oil: 50% interest), during initial testing of the Cheal-G1 well that may prove to be economic. As announced back in May, in a 50-50 joint venture with East West Petroleum, TAG drilled four shallow exploration wells and one exploration sidetrack well within the Cheal South and Southern Cross areas. While the other wells on this site were plugged and abandoned, the Cheal-G1 well is currently undergoing production testing as a new discovery. 

Read More >

Welcome aboard, Max

As we bid goodbye to Randy Toone, who returns to North America, we’re happy to welcome, effective September 1, 2014, Max Murray to the TAG Oil team as our New Zealand Country Manager.

Read More >

The Journey to Waitangi Valley-1

What goes into the building of a drill site? When it’s in the undeveloped East Coast Basin, even a small well pad nestled in the hills can take some infrastructure work. As always though, TAG Oil is careful to work within the landscape and keep a small footprint. Here are some photos from the field of our soon-to-be-spud Waitangi Valley-1 well.                    

Read More >

Year-end, and full speed ahead.

What better way to bookend TAG Oil’s 2014 fiscal year than with great panoramic shots of two exploration drill sites: above is the Taranaki Basin at Southern Cross, and below is our upcoming Waitangi Valley-1 well drilling pad in the East Coast Basin.  It was a good year at TAG, with active step-out drilling and approximately 893,000 BOE of new gross reserves to date. New discovery area production has been consistent and that success has opened up several new, promising, development drilling locations. On the other side of the island…

Read More >

What oil and gas means to New Zealand

TAG Oil’s second new video (2 minutes and 21 seconds) shows the contributions natural resources make in New Zealand. In two parts, the first section focuses on economics: the positive economic benefits of oil and gas in terms of GDP and employment, what TAG Oil contributes, and some of the potential still to be explored. From our perspective, this can be done safely and responsibly, taking great care to respect the land, leave a small footprint, and co-exist in harmony with our neighbors. The second part of the video shows…

Read More >

Strategy stays the course, even as new plans take shape

TAG Oil CEO Garth Johnson and COO Drew Cadenhead took to the phone lines last week to discuss recent drilling announcements and the new fiscal year’s operational plans. Typically forthright, forthcoming and realistic, they outlined the Company’s plans and answered participant questions. TAG’s vision remains in focus, to:  Grow baseline reserves, production, and cash flow in Taranaki Build a steady stream of long-term predictable cash flow from production Continue to pursue high-impact Taranaki exploration in deep Kapuni and the offshore Kaheru Unlock the vast potential of unconventional East Coast basin…

Read More >

TAG Oil on The Globe’s list of “tempting takeover targets”

Timing is everything. With growing attention and focus allocated back into the natural resources sector, investment reporter Tim Shufelt of The Globe and Mail (Canada’s most widely read newspaper) recently included TAG Oil Ltd. in its list of “Tempting Takeover Targets.”    And why wouldn’t it be? TAG Oil is profitable with an attractive valuation, on track to achieve record financials, and with a share price trading near four-year lows. In The Globe’s own words, here’s how they compiled the list:   “The primary criterion we screened for was an attractive ratio of enterprise value (EV) toearnings before…

Read More >