New Zealand Oil and gas
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News

This section of our website includes all of our media releases, speeches and presentations. You can view a topic using the tag cloud, or by the date archive found on the right hand side.

News

FID For Kupe Production Installation

Posted on 28 August 2019

A final investment decision for a compression installation project has been approved by partners in
the Kupe joint venture.

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New Zealand Oil & Gas FY19 Loss Of $2.9 Million

Posted on 27 August 2019

New Zealand Oil & Gas has recorded a net loss of NZ$2.9 million for the year ended 30 June 2019 compared to a net profit in the previous year of NZ$4.8 million.

The net loss attributable to shareholders of New Zealand Oil & Gas was $7.5 million, compared to a net profit of $0.8 million last year.

Revenue for the 2018-19 year was $43.3 million, up from $35.8 million in the prior corresponding period.

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Kupe Production Off Plateau

Posted on 2 August 2019

Production from the Kupe gas fields is off plateau, the joint venture has advised.

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New Zealand Oil & Gas Recommends Scheme of Arrangement With O.G. Oil & Gas at $0.62 Cash Per Share

Posted on 10 July 2019

  • Scheme price agreed at $0.62 per share in cash for all of the approximately 30 per cent of New Zealand Oil & Gas fully paid ordinary shares that O.G. Oil & Gas does not already own.
  • Price is a 25% premium to Tuesday’s closing price.
  • Independent directors unanimously recommend shareholders vote in favour of the scheme, subject to the independent adviser's report concluding that $0.62 per share is within or above its valuation range.

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Ironbark completion, Drilling 2020

Posted on 7 June 2019

Partners in the WA-359-P joint venture have completed the Ironbark farm-in transaction and title to the exploration permit has been transferred.

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Ironbark Title Transfers Approved

Posted on 23 May 2019

Cue Energy has announced that approval has been received for title transfers of exploration permit WA-359-P, which contains the giant Ironbark gas prospect, to new joint venture partners BP Developments Australia Pty Ltd, Beach Energy Limited and New Zealand Oil & Gas. Cue’s announcement is attached.

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Approval Received For Ironbark Timetable

Posted on 10 April 2019

An important milestone has been reached in plans to drill the giant Ironbark prospect offshore West Australia next year.

The operator has received approval for a 24-month suspension and extension to the permit, WA- 359-P.

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Barque Work Programme Extended

Posted on 9 April 2019

The deadline for a decision about whether to drill an exploration well in the Clipper permit, east of Oamaru, New Zealand, is to be extended by three years.

Clipper contains the multi-tcf Barque prospect located about 60 kilometres east of Oamaru.

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New Zealand Oil & Gas Half-year Result

Posted on 27 February 2019

Write-downs of the Kisaran development asset in Indonesia and the Kohatukai well in Taranaki were the main components in a net loss for New Zealand Oil & Gas of $4.8 million for the six months to 31 December 2018. A net loss of $0.7 million was recorded in the prior corresponding period.

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Ironbark Rig Contract Signed

Posted on 13 February 2019

A rig contract has been signed for the Ironbark prospect in WA-359-P, where New Zealand Oil & Gas has agreed to acquire a 15 per cent interest and Cue Energy has a 21.5 per cent partly carried interest.

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