Field news and more

299 million years old and still giving

The Permian Basin of West Texas and Southeast New Mexico is not only one of the best known oil and gas producing regions, it’s also one of the most prolific! Since 1921, the Basin has produced a massive 30 billion barrels, and it’s still going strong.  With an exponential potential—in part to new extraction techniques—the Permian Basin it is one of the top oil plays in the U.S.  Why does TAG Oil care about the Permian?  Because TAG has a Permian play of its own.  TAG’s Australian permit PL17 covers…

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Oil prices dip, but optimism stays up

The current dip in oil prices hasn’t got us down, and it hasn’t negatively affected other oil executives either, it seems.  A team of strategists led by Peter Hackworth at Goldman Sachs Group Inc. reviewed fourth quarter earnings to see how oil companies are handling the ongoing oil price downturn, and the general feel was one of optimism. The Goldman Sachs team estimates 85 percent of companies they cover are planning to increase capital expenditures this year, adding that, “…most CEOs believe that the worst is over, and the time…

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BFOE…and now T

It’s recently been announced that Norway’s Troll crude oil will be added to Brent global benchmark crude oil price method assessment in January 2018. Brent Crude is the trading classification of sweet light crude oil that serves as a major benchmark price for purchases of oil worldwide, including the oil that TAG Oil produces and sells. The new addition Troll, is Norway’s light sweet crude oil grade with a typical production of 10 to 15 cargoes of 600,000 barrels each month. Currently, the benchmark for Brent pricing is made up…

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TAG contributes to Durham Road Hall

TAG Oil recently donated materials to the Durham Road Hall so that they could build an entranceway fence and gates. The Hall is just down the road from the Sidewinder Wellsite so was a good way to support the local community. Back in 1947, Durham Hall was a rural school. Then it was closed and enlarged to become a community hall used for dances, meetings and local functions. Here is a photo of Andrea Smith, TAG Land Liaison Manager and Denny Hodges, a Hall committee member, showing off the new…

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Shell’s Oil trading causes strife

Brent pricing (also known as North Sea crude oil), determines the prices of most petroleum-based products, making it the world’s most important industry reference. This past year, pricing for Brent was affected by heavy buying more on par with an oil shortage than an oil glut, as manifested by the tankers anchored along the Scottish coast, which served as nothing more than floating storage for the excess North Sea crude.   The heavy buying led to losses and confusion among other players in the market, and moved markets counter to…

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Student and future oil and gas professional Cody Brown

Recently we had Cody, a summer student from the University of Auckland join the TAG team.  We thought it would be best if you heard straight from Cody what it was like to work with TAG.  I am entering my fourth year of my Chemical and Materials Engineering (Honours) degree at The University of Auckland. My family and I all reside in New Plymouth, so the opportunity to work in my hometown and New Zealand’s oil and gas hub was very helpful. The ability to gain work experience on oil…

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TAG Presents at the 29th Annual ROTH Conference

TAG Oil has been invited to present at the 29th Annual Roth Conference on March 12-15, 2017. The conference, held this year at the Ritz-Carlton in Dana Point, California, gathers roughly 500 companies and over 4,000 attendees, which include institutional investors, private equity investors, VCs, company executives and service providers. Presentations will be given by small and mid-cap private and public companies in a wide range of industries. TAG CEO, Toby Pierce and VP of Corporate Development, Chris Beltgens will be attending the three and a half day event on behalf…

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Introducing the world’s newest continent…Zealandia!

Welcome the world’s eighth continent, Zealandia, which New Zealand calls home.  Zealandia is a 4.9 million sq km land mass submerged in the Southwest Pacific, sitting close to—but not joined with—the continent of Australia.  Although most of Zealandia is submerged below sea level (fully 94% is underwater), the parts that are revealed and populated include New Zealand, New Caledonia, Norfolk Islands, Lord Howe Island Group. (Elizabeth and Middleton Reefs are above sea level but not populated.). Geophysicist Bruce Luyendyk first discovered and named Zealandia in 1995, but he thought of…

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The head, not the heart, should rule your investing

The stock market can tricky, and you always want to invest with facts rather than with emotions. Easier said than done though—we’re all human after all. If you needed added incentive to leave emotions out of it, according to Science magazine, during financial stress, people lose 13% of their IQ, which leads to poor decision-making. Thirteen percent! So follow the steps laid out by US News to ensure you go against the crowd and follow the ultimate rule of smart investing: buy low and sell high! Here are the steps:…

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Seismic shoot in Australia goes 3D

The TAG Oil team already sees lots of drilling possibilities in our new Australian permit on vintage seismic. But we’ll soon be taking advantage of modern exploration technology on oil and gas lease PL17. We know there’s oil in the area, because PL17 is located a mere 20 km from the conventional Moonie Oil Field, which has produced  about 25 mmbbls to date. And we know there’s oil in our permit, because two wells drilled in the 1960s are still producing, with very little work having been done to the…

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