Field news and more

Saudi Aramco’s IPO

Saudi Arabia’s Aramco may be the most valuable company in the world, but this massive energy giant started out with just one well. You read that right—one well. Aramco didn’t strike oil on their first well either, they went through a five-year voyage prior to 1938 when they first discovered oil from Dammam No. 7 well or “Lucky no. 7” as it has been called. Back then, Aramco wasn’t fully owned by the Saudi’s as it is today, it also included four US oil giants: Chevron, Texaco (now part of…

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TAG goes Paperless!

Did you know that it takes approximately 17 trees to produce one ton of paper? It is always on TAG Oil’s mind to stay on top of the most efficient ways to run our business and benefit the environment. In this pursuit, we have decided to go paperless. Some of our shareholders are currently receiving copies of TAG Oil’s financial statements in the mail, when actually, the same information can be found online. Copies of quarterly and yearly financial statements may be downloaded without charge at www.tagoil.com (look for Financial…

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HSE Compliance with Melanie Sole

At TAG Oil, we strive to maintain the highest standards in health, safety and environmental compliance (HSE), as well as to positively contribute to the communities we operate in. But what does that mean on a day-to-day basis? We have a Health Safety and Environmental Management System (HSEMS) in place, developed to ensure any adverse health, safety and environmental impacts of our operations are minimized and corrected. The HSE Management System ensures we achieve both policy objectives and commitments, and through a continuous improvement cycle, we know that appropriate action…

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Another Olympics for the books

With the 2016 Rio Olympics at an end, TAG Oil’s New Zealand office is very proud of the performance of  New Zealand’s athletes.  When all was said and done, they landed four gold medals, nine silvers and five bronzes.  The men and woman excelled in rowing, sailing, canoe sprint, track and field and canoe slalom. Just to compete at a world class level is something to be proud of; it takes extreme commitment, dedication and endless hours of training.  These men and women provide excellent role models for success for…

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Shareholder profile: Bruce Rykiss

Meet Bruce Rykiss, a new TAG Oil shareholder and advocate. As a former Chairman and COO of privately held producing mining companies, Bruce has deep insight into the resource sector, and he doesn’t need to be in oil specifically to understand how the TAG team is running the company. “I recently bought a position in TAG because it represents solid value and is an attractive investment. They have a strong balance sheet, low cost production, lots of development acreage with production infrastructure in-place and high impact exploration upside in a proven…

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The World’s Energy Producing Giants

The name says it all: “The World’s Energy Producing Giants” And the countries leading the ranks? Saudi Arabia, Russia and USA. As the oil price has made a steep drop since June 2014, there have been talks about cutting production, but it seems the opposite is happening.  Saudi Arabia is unwilling to curb its production, Russia’s output is actually increasing, and US shale producers are able to stay afloat due to rapid cost cutting and efficiency gains. The picture which is part of a document titled “The New Great Game, Changing Global Energy…

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Exciting news from Sidewinder!

Monday’s news of TAG Sidewinder testing has us excited!  Over a 24 hour period, using a temporary gas lift system, results showed 254 bbl/d of light oil and condensate in a lower unproduced interval in the Sidewinder mining permit (PMP53803). This oil comes from an oil pool that has never produced in the past and is contained below the gas cap.  Previously, this permit cycled only minor amounts of gas with no reserves booked.  In approximately two to three weeks, full-time operation will commence. TAG has designed a permanent liquids…

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Production declines outside of OPEC: China

Media and market observers tend to focus on the record inventory levels of crude and refined gasoline in the USA and “stored at sea”. There is no arguing that inventories are much too high and that before they are reduced substantially, it’s hard to see a scenario where oil prices increase. Stepping back and looking at supply destruction, however, it looks increasingly likely that on a medium-term view, fundamentals support higher crude prices. Chinese domestic crude production is a good example of this. China reported that its crude oil production…

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Perforations for Production Increase

TAG is always seeking new ways to increase production from already producing wells. We have been hard at work on Cheal E7 by perforating the wells in order to expose more of the reservoir to potentially increase production. If you are not familiar with perforation, a short explanation is that a perforation gun is entered into the well to punch a pattern of holes (perforations) in the casing of the well to connect the cased wellbore and the production reservoir. Our main goal with perforation is to increase production, but with…

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Oil Price: A Ticking Time Bomb

The fall of oil prices have impacted the energy sector immensely as of late. How immensely? About US $1 trillion dollars worth. The 2015 to 2020 global upstream capital-spend is seeing a reduction of 22%, or $740 billion. When you add in cuts to conventional exploration investment, the $1 trillion mark is hit, as researched by industry research firm Wood Mackenzie.  In the past two years alone, Wood Mackenzie estimates $380 billion in cancelled projects – projects that would have yielded roughly 27 billion barrels of oil and gas. Investments…

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