NZEC is executing a technically disciplined exploration program focused on the discovery and development of onshore oil and natural gas resources in New Zealand. NZEC is rapidly developing its existing portfolio of assets and pursuing additional exploration opportunities in areas with proven hydrocarbon systems. We believe NZEC offers a compelling oil and gas investment opportunity.
- We have proven our ability to rapidly advance discoveries to production.
- We currently have 12 wells in the Taranaki Basin capable of producing light, high-quality oil.
- Our oil production is sold at a premium to Brent pricing.
- We control 1.15 million acres across seven permits on New Zealand's North Island, with major oil discoveries to the north, south and west of our Taranaki land package and numerous oil and gas showings across our East Coast land package.
- Our permits offer exploration and production potential from both conventional resources and unconventional oil shales.
- Our newly-acquired petroleum licenses have brought multiple low-cost reactivation and recompletion opportunities that could quickly increase the Company's production and cash flow.
- We operate the only open-access full-cycle production facility in the Taranaki Basin, expediting tie-in timelines and reducing processing and transportation costs for NZEC's production, and bringing business opportunities to the company to process third-party production in the region.
- We have a strong technical team with decades of New Zealand experience and are using our in-house expertise and technical data to actively explore and develop our properties.
New Zealand’s energy sector is analogous to western Canada’s oil and gas industry 50 years ago – but with the benefits of 21st century commodity pricing and technologies. The country has known hydrocarbon accumulations and a long history of oil and natural gas production. Yet New Zealand remains largely underexplored, with less than 500 oil and natural gas wells drilled over the past 60 years, versus literally hundreds of thousands in western Canada during the same period. We believe New Zealand’s currently small oil and natural gas sector represents a tremendous growth opportunity.
New Zealand is a stable, democratic, developed country with a transparent legal system. In terms of natural resource policies, the country is “open for business” and offers a positive fiscal regime at both the energy royalty and overall tax levels. Domestic energy consumption far outstrips domestic production, creating a strong local market. In New Zealand, crude oil sells at a premium to the Brent benchmark and natural gas sells well above North American prices.