Field news and more

TAG showcases at Australia’s APPEA

TAG Oil CEO, Toby Pierce, spent some time in Australia in early June, attending the APPEA (Australian Petroleum Production & Exploration Association) Conference and Exhibition. He was accompanied by New Zealand country manager Max Murray, senior geophysicist Sarah Cutten, board member and technical consultant Dr. Dave Bennett, and commercial manager Ryan Brown. TAG hosted a booth at this great event held in Brisbane and sponsored by the top national body representing Australia’s oil and gas exploration and production industry. APPEA represents nearly 180 associate member companies that provide a wide range of goods and services…

Read More >

20-Questions with COO Henrik Lundin

As Mr. Henrik Lundin transitions from Norway to New Zealand to take on his new role as COO with TAG Oil, we wanted to give shareholders a chance to get to know him a little better. Below are 20 questions that should give you more insight into the life of Henrik, as he leads TAG into its next phase of growth. 1. Give us a little bit of background on your work history. I started work with Tanganyika Oil in the fields of northern Syria for about three years, transitioning into…

Read More >

More to New Zealand than meets the eye

If you look at New Zealand below the ocean, you’ll find that most of its continental landmass is submerged. In fact, the Exclusive Economic Zone (EEZ) of New Zealand is 20 times bigger than the landmass above sea level, making its EEZ the fifth largest in the world. Put another way, just 7% of New Zealand’s landmass is visible above sea level, while the rest extends beneath the Pacific Ocean. The EEZ of New Zealand spans more than 200 nautical miles wide, and gives New Zealand the economic rights to…

Read More >

CAPEX reduction = higher oil prices

There is an old adage that says: “The only cure for low oil prices is low oil prices.” The oil industry is one of the most capital intensive on the planet, and without significant amounts of capital to reinvest, production starts to decline. When production declines, oil prices tend to rise to a point where additional capital investment makes sense…at which point more oil is brought online…which increases supply to meet demand. The cycles come and go based on the demand/supply equation. The recent oil price drop was driven by…

Read More >

Responsible land reclamation the TAG Oil way

Last month, the TAG Oil team was hard at work restoring the land from our Taranaki Southern Cross site so that it could be handed back to its owner. This is a very important procedure, and not one many people are familiar with. But it’s the final step of a well site called reclamation, that returns the land back to its original – or better – state.   Responsible land reclamation actually starts at the time of site preparation, when a Drilling Pad is first constructed. Although constructing large drill…

Read More >

Setting the stage for the next oil price comeback

Here’s a five-year historical price chart on TAG Oil. Not always pretty, but informative. In tandem with the oil price crash, the capital markets punished shares of all oil companies – including TAG – hitting an all-time low of C$0.49 early in early 2016. In most cases this was justified, as many oil companies faced bankruptcy, large equity dilutions or unfavorable debt restructuring, leaving equity holders high and dry. However not all oil companies are created equal. Look at debt-free TAG Oil, if we do say so ourselves: prudently managed and…

Read More >

TAG Oil a play on the future of New Zealand oil and gas industry, says Seeking Alpha

As oil prices rise, the markets and media start to recognize companies that have persevered through the downturn: companies like TAG Oil. Recently, TAG was featured on Seeking Alpha in an article titled TAG Oil: Excellent Speculative Pick. The author, a regular contributor to Seeking Alpha, gets into the top reasons why he feels TAG should be put on your watch list. The author (under the handle Long Player) touches on what we feel are some of our top attributes as well, such as our: No-debt balance sheet $15MM in…

Read More >

TAG Oil grows in Taranaki with the Puka Oil Field & Shannon Prospect

We were excited to share the news in Monday’s press release that TAG Oil had acquired a 70% Interest in Permit 51153, which contains the Puka Oil Field and the high-impact Shannon Oil Prospect. Puka was first discovered in 2012, at which time it produced 100 barrels of oil per day until its eventual shut in due to low oil prices and mechanical issues. TAG Oil procured this permit in a liquidation sale from cash-strapped Kea Petroleum during the disposal of their interests in Taranaki exploration. Due to the nature of the…

Read More >

Sailing the High Seas

Tanker owners were one of the few beneficiaries in the oil industry during the past two years of weak crude prices. While their fortunes are about to change, it’s good news for TAG Oil’s bottom line. The oversupply of crude drove up demand for shipping, while at the same time reducing fuel costs, the shipping industry’s biggest expense. This dual action led to a sharp increase in tanker rates and profitability. On the back of these increased profits, shipping companies launched their biggest expansion in five years. One-hundred-thirty-seven new ships are estimated…

Read More >

A little background on New Zealand exploration

New Zealand is highly prospective for discoveries of oil and gas, and at the same time it’s vastly under-explored. Even this relatively small country has more than 6,000,000 square kilometers ripe for oil and gas exploration. That’s why the Fraser Institute (a public policy think tank) ranks New Zealand as one of the top 10 countries in the world for investment in petroleum. They also take into account government stability, royalty rates, and a host of other metrics. For example, New Zealand has some of the lowest production royalties in the world, and is…

Read More >