Field news and more

Exploration and production set to rise

According to a new Wood Mackenzie report, upstream oil and gas industry projects are set to double in 2017 compared to 2016. Although still 40% below 2014 pre-crash levels, exploration and production spending is expected to rise by 3%, to $450 billion. The oil slump caused the companies that survived to become more efficient and to cut costs in ways they never have before. Malcolm Dickson, a Wood Mackenzie principal analyst for Upstream Oil and Gas stated, “2017 will demonstrate how efficient the oil and gas industry has become, showing…

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The Energy Commodity Price Turnaround

Energy commodity prices made a turnaround in 2016 and rose more than any other commodity sectors for the year. The Spot Energy Index in the S&P Goldman Sachs Commodity Index (GSCI) rose 48% since the start of 2016; Industrial Metals had the second highest rise at 22%. The Energy Index typically follows major price movements in the crude oil market, as the two major crude benchmarks—West Texas Intermediate (WTI) and Brent—contribute to 69% of the weight in the S&P GSCI Energy Index. The rise of oil prices follows two years…

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See the TAG Opportunity from CEO Toby Pierce

In late October, we were able to capture TAG Oil CEO Toby Pierce sharing the TAG opportunity with shareholders, through the most recent investor presentation. Toby gave an operational update covering the waterflood program, Sidewinder progress and more, and shared more details on the definitive agreement that TAG entered into to expand into Australia’s Surat Basin in 2017. Listening to the TAG’s story and future plans certainly has us excited—what about you? TAG Oil Fall 2016 Investor Presentation from TAG Oil on Vimeo.

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