New Zealand Oil & Gas (ASX:NZO)
New Zealand Oil & Gas (ASX:NZO) is an oil and gas exploration and production company.
In 2017 the company sold its two major producing assets, the Kupe gas eld and the end of life Tui oil elds, both of which are located offshore from Taranaki New Zealand. With substantial cash proceeds, the company returned NZD$100 million of capital to shareholders.
In 2017 the company brought back into the Kupe gas field and it remains its key producing asset. New Zealand Oil & Gas also holds 50.04% of Cue Energy Resources (ASX:CUE).
After a successful partial takeover in 2018 by O.G Oil & Gas (Singapore) Pte Limited, the company is now 70% owned by the Ofer Global group.
The company holds a number of exploration assets and is presently gearing up to participate in the drilling of the Ironbark well, offshore Western Australia.
New Zealand Oil & Gas is looking to grow regionally through acquiring high quality assets, using our well-developed expertise in oil and gas and leveraging the capabilities of the wider group, while working within our means.