Our History

Echelon has progressively grown over its time as a listed entity, on the back of a host of notable achievements. In the mid-1980s, the Company was instrumental in the discovery of the Kupe gas field, offshore Taranaki. At the time, the giant Maui field dominated New Zealand’s gas markets and Kupe entered production in 2009, when the onshore production station was opened by the then Prime Minister Sir John Key. In 2017, the Company sold it’s 15% interest in Kupe to Genesis Energy, and returned $100 million of cash to shareholders, then bought back into the Kupe field by purchasing a 4% interest from Mitsui E&P Australia. In 2015, we took a controlling interest in ASX-listed Cue Energy Resources (ASX:CUE).

The 50.04% stake provides the company with all of its interests today in Indonesia, as well as Cue’s interests in production in Australia and New Zealand. 

Following a partial takeover in 2018 by O.G Oil & Gas (Singapore) Pte Limited, the Company is now over 70% owned by the Ofer Global group. In 2021, we gained exposure to the Australian energy sector with the acquisition of interests in three Northern Territory-based Amadeus Basin assets from Central Petroleum. After a brief hiatus on the ASX, the Company resumed its listing on Australian Securities Exchange (ASX) in September 2020 as a foreign exempt listing, later converting a primary listing in June 2022. The Company subsequently decided to move to a sole listing on the ASX in mid-2024. Ahead of this move, the Company was one of the ten longest-listed businesses continuously listed on the NZX.

Today Echelon holds valuable exploration and production assets in Australia, New Zealand and Indonesia.