This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

New Zealand: A High-potential Energy Frontier

The country's Great South, Canterbury, Reinga/Northland, East Coast basins, along with deep-water possibilities of petroleum acreage, have also attracted significant interest as emerging basins of petroleum potential.

Oil production levels currently sit at 21 million barrels (mmbbls) per annum, while natural gas production is 158 billion cubic feet (Bcf) per annum, according to the latest figures provided by EnergyStream. Estimated oil reserves are known to be 180 mmbbls, with the potential to reach 527 to 11,161 mmbls. Gas reserves are known to be 4,600 Bcf, with the potential to reach 11,310 to 67,785 Bcf.

In 2011, oil was the nation's fourth-largest export product at a value of $2.2 billion.

Potential investment opportunities

TAG Oil is a production and exploration company with operations focused exclusively in New Zealand. Over the past three years, the company has recorded substantial oil and gas production and reserve growth through the development of several light oil and gas discoveries. TAG is actively drilling exploration prospects identified across more than 2.9 million net acres of land in New Zealand; in the East Coast Basin, it is aiming to explore and potentially develop unconventional resources that are believed to exist over its acreage. TAG notes that these formations have similarities to North America's Bakken source-rock formation in the successful Williston Basin.

Marauder Resources East Coast (TSXV:MES) is a junior player that also has interests in Canada, the Middle East and the Gulf of Aden. It recently announced that its wholly owned subsidiary has been awarded Petroleum Exploration Permit 53806 in the East Coast Basin of New Zealand. Marauder will be the operator of the permit and will hold a 50-percent working interest; the remaining 50 percent will be transferred to an international oil and gas exploration company based in Canada.

New Zealand Energy is engaged in the production, development and exploration of petroleum and natural gas assets in New Zealand. Its property portfolio covers approximately 2.27 million acres (including pending permits) of conventional and unconventional prospects in the Taranaki Basin and East Coast Basin of New Zealand's North Island. The company recently provided an update on its activities in the Taranaki Basin that highlights the commencement of continuous production at its Waitapu-2 well and the completion of operations at two wells on its Arakamu site.

3 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,792.23 +114.33 0.69%
S&P 500 1,960.42 +9.60 0.49%
NASDAQ 4,470.0750 +17.2830 0.39%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs