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June 2017 O&G Wrap

By Neil Ritchie

Westside Corporation - insights from the new player

New player to the New Zealand energy scene, Queensland’s WestSide Corporation, is taking the lessons learned from its Aussie operations and applying them to operating the Rimu, Kauri and Manutahi oil and gas fields in South Taranaki.

Operations Support Manager Josh Whitcombe told the 2017 New Zealand Petroleum Conference held in New Plymouth during March that the private company, “with its highly experienced team in the Brisbane head office”, was proving profitable by “leveraging its subsurface and production experiences”.

Energy Companies signal new activity

By Neil Ritchie

After a year of little offshore activity around the country, apart from several seismic surveys off Taranaki and the East Coast, two energy companies are now signalling some new drilling activity scheduled within the next 36 months or so.

Firstly, Shell Exploration New Zealand, operator and majority stakeholder in the offshore Taranaki Maui gas field, has applied again to the Environmental Protection Authority (EPA) for marine consent – this time to allow for “future drilling work” involving a jack-up rig. 

May 2017 NZ O&G Wrap

By Neil Ritchie

The composition of the New Zealand energy sector continues to change, with “gentailer” Genesis Energy acquiring Nova Energy’s retail liquefied natural gas (LPG) business for $NZ192 million, giving the country’s biggest electricity retailer almost a fifth of the LPG market.

The deal will increase Genesis's share of retail LPG from three percent to 19 percent, making it the second largest player (by customers) in the market, behind Contact Energy.

April 2017 O&G Wrap

By Neil Ritchie

Shell New Zealand has started the much anticipated sale of its Kiwi petroleum exploration and production assets, with long-time partner Todd Energy taking complete control of the onshore Taranaki Kapuni natural gas field, while Shell takes over all of operating company Shell Todd Oil Services.

The deal, announced in early April, sees the Todd Corporation subsidiary relinquishing its half stake in Shell Todd Oil Services (STOS) while taking complete ownership of, and operatorship of, the Kapuni field.

NZ Petroleum Conference - highlights - Part 3

By Neil Ritchie

NZ Petroleum Conference - highlights - Part 2

By Neil Ritchie

As well as the sole political address, there were several keynote speakers and updates on recent exploration and production activities, largely centred on Taranaki, at the 2017 Petroleum Conference.

International keynote speaker, Iain Stewart, the director of the Sustainable Earth Institute at Plymouth University, England, was one of the highlights of the conference, according to several delegates

NZ Petroleum Conference - highlights - Part 1

By Neil Ritchie

The New Zealand Petroleum Conference 2017 – held in New Plymouth for the first time this week – was, overall, a better and more upbeat event than last year’s conference in Auckland.

The total number of delegates from Taranaki, around the country, and overseas exceeded 450 – significantly more than the 350 or so at the 2016 conference.

March NZ O&G Wrap

By Neil Ritchie

Company update - special addition

By Neil Ritchie

New Zealand Oil & Gas has joined its former senior partner Aussie listed AWE in selling their respective stakes in the offshore Taranaki Tui Area oil field to Malaysian company Tamarind Management.

Tamarind is paying NZOG $US750,000 in exchange for all shares in its Tui holding company Stewart Petroleum. In December Tamarind announced the now completed agreement to purchase the 57.5 percent interest of former Tui operator AWE.