New Zealand Energy Corp.
New zealand
Overview
Near Term Potential Gas Production in New Zealand
New Zealand Energy Corp is an onshore formerly producing oil and gas company with substantial permitted acreage for new oil and gas production opportunities in New Zealand’s only producing sedimentary basin, the Taranaki. With a 50% ownership stake in the Waihapa production station, NZ Energy Corp can quickly tie in any near-term production and sell directly to market.
What's Ahead
The company intends to drill the Tariki-5 gas well in Q1 of this year along with re-enter a number of previously producing oil wells with a workover program to bring those back online.
NZ Energy Corp receives up to
$
0
NZ
per MCF of natural gas which is sold immediately to the local market.
Over
2x the price
of natural gas sold in North America.
The Infrastructure
Near Term Potential Gas Production in New Zealand
The Waihapa Production Station and associated infrastructure includes (NZ.V 50% interest):
- a 45 mmcf/d gas processing, gas compression and LPG extraction facility (“TAWN facility”)
- a 51-km 8-inch gas sales pipeline from the Waihapa Production Station to the Stratford Gas Power Generation Plant then terminating in New Plymouth
- 59 km of oil/gas mixed product pipelines including gas lift lines;
- a 25,000 bbl/d oil processing capacity
- a 49-km oil sales pipeline from the Waihapa Production Station to the Omata Tank Farm, capable of transporting up to 15,500 bbl/d
- an 18,000 bbl/d water disposal processing system; and
- 70 tonne/d liquid extraction capacity
- Facility valued at over $50M and even more to replace today
- New Zealand Energy Corp. plans to drill the Tariki-5 well, subject to financing, during 2024