Field news and more

Charts signal oil outlook remains bullish

The outlook for oil prices remains bullish, both on the chart and in the economy, according to Daryl Guppy, an independent technical analyst who appears frequently on CNBC Asia. Guppy offers his technical analysis of oil charts by using three different methods: the Guppy Multiple Moving Average relationships, the confirmed chart pattern, and the history of support and resistance trading bands. Although the three methods show different medium and long-term prices, they all show one thing in common: Oil prices are on the rise. To read the full article and…

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Will they or won’t they? OPEC flirts with cuts

The word is out: In late September, OPEC producers agreed informally to reduce crude output by around 700,000 barrels per day. This cut will bring the production rate between 32.5 million and 33 million barrels per day. “We will evaluate the market in Vienna by the end of November and if 700,000 barrels are not enough, we will go up. Now that OPEC is unified and speaks in one voice everything is much easier and if we need to cut by 1 percent, we will cut by 1 percent,” Algerian…

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IEA warns of future supply problems

According to the IEA’s (International Energy Agency) annual report, investments in oil and gas development are set to fall another 24% in 2016, on the heels of a 25% fall in 2015. If this prediction is true, this will mark the first time oil and gas investment has fallen three consecutive years. U.S. shale producers have shown the largest spending slide, down 52% over the past two years. The lower investments being put forth are mainly spent on replacing depleting supplies. These cost reductions and lack of exploration spending haven’t…

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New Zealanders on Oil and Gas

Oil and gas is New Zealand’s fourth largest export, and PEPANZ (Petroleum Exploration and Production Association of New Zealand) is the national body representing those who explore for and produce it. PEPANZ was formed in 1972. In addition to representing the companies accountable for 95% of petroleum production, and more than 30 associate members that provide a range of goods and services to the industry, PEPANZ works with local and central governments. With value statements that include industry leadership, advocacy and engagement, TAG Oil is proud to be a member.…

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Investing in our own future

TAG insiders have been buying TAG Oil shares in the open market, exuding great confidence in the Company’s future. For example, TAG Chairman and founder Alex P. Guidi, along with TAG CEO Toby Pierce, TAG Director Brad Holland and TAG Corporate Secretary Pino Perone have recently acquired additional TAG shares. They and others within the company firmly believe in TAG’s prospects, as well as what they consider to be an attractive share price. During this time of low oil prices and oil company bankruptcies, TAG has maintained a solid production…

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A new union in the TAG family

Congratulations to TAG Oil Corporate Secretary, Pino Perone, who was married over the weekend. The wedding was held with family and friends at a beautiful Italian locale. The entire TAG Oil family would like to extend our warmest congratulations to Pino and his new wife Nancy. We wish them a lifetime of happiness together.

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Where is the money coming from?

With the low oil price, it’s no secret that oil companies are facing a strain on their cash flows. Oil companies, large and small, need to adjust their cash outflows to adapt to the decrease in revenue that we’re all experiencing. TAG Oil has been fortunate to sustain strong working capital, while avoiding taking on any debt. We’ve used the slump as an opportunity to cut down on costs and to make strategic operational decisions that enable us to maintain production levels. Looking forward has been our priority. Other companies…

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The burdens of debt – and why TAG Oil does things differently

Debt is catching up to oil companies and the creditors who loaned the money: In 2016 thus far, the number of U.S. oil companies filing for bankruptcy is twice that of last year’s totals. The credit-rating agency Moody Investor Services released a report that looks into lending to 15 exploration and production companies that filed for bankruptcy protection in 2015. The report shows that in past decades, creditors recovered an average of 59 percent of what was loaned to oil and gas companies, compared to today’s average of just 21…

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Women in the oil business: Melanie Sole

We recently interviewed Melanie Sole, TAG Oil’s HSE, Risk and Compliance Manager, and our conversation veered into women in the oil and gas industry. Melanie offered the following insights. 1) Why did you choose to enter the oil and gas industry? I entered the oil and gas industry very early on in my working career, after working for an oil and gas industry service company for a couple of years. I joined Fletcher Challenge Energy’s finance team and after two years had an opportunity to transfer to the HSE department.…

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Are You an Oil Bull or Bear?

We at TAG Oil are not the only ones bullish on the future of oil prices.  Michael Rothman, considered to be one of the most astute oil experts on Wall Street, recently said on CNBC, “Oil prices could surge above $85 a barrel by the end of this year.” Rothman heads the research firm Cornerstone Analytics, through which he advises governments from all over the world, including the oil-rich Saudi Royal Family and its affiliates, and leading energy firms. The problem is, no one knows exactly when oil prices and the…

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