Field news and more

Of owls and monster oil speculation

Did you know that owls have long, shapely legs?  Kevin Muir of the The Macro Tourist says that the existence of owls’ legs, and the massive record net long speculative position in the WTI crude oil market, are two big mysteries of our time. Some of the aspects of the crude oil future’s market that puzzle Kevin, are: Why the speculative long position doesn’t correspond to the generally negative attitude traders have towards crude oil, and Why has the net crude oil spec position sat in a relative range for…

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The makings of an oil deficit

Unfortunately, the OPEC and Russia nine-month production cut extension underwhelmed the markets. And they were further disappointed that OPEC and Russia didn’t commit to slashing even more barrels from the over-saturated market, which is currently about 350 million barrels above standard. On the positive side, some of those extra barrels are going to be drained in the northern hemisphere as the summer heats up.  Saudi’s oil needs increase in summer months by about 0.3 million bpd due to the power needed for air conditioning.  Another use of the oil oversupply…

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Dropping the Bar

Ready, set, fire! TAG Oil Production Manager, Ryan Bierele, “drops the bar” at TAG’s Cheal-E8 well. That long bar is dropped into the well, and when it reaches the firing head on the perforation guns, it sets them off to perforate the well. The results of our recent four-and-a-half-day flow test showed that Cheal-E8 naturally free flowed oil and gas on choke at an average rate of 318 boe/d. Good work Ryan and TAG Oil crew!  

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Another APPEA for the books!

The annual Australian Petroleum Production & Exploration Association (APPEA) conference and exhibition was held in Perth May 14th to 17th, and TAG Oil was pleased to participate. APPEA is the top national body representing Australia’s oil and gas exploration and production industry. The event brings together more than 3,000 attendees and roughly 200 exhibiting companies showcasing their assets, products and services provided to the upstream oil and gas industry. TAG Oil held an exhibit for potential partners and investors to visit our booth, meet the attending team, and learn more…

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TAG distributes share dividend

Some of you have had questions regarding the dividend that TAG Oil shareholders will be issued today.  TAG Oil will dividend out its holdings of Coronado Resources Ltd.  TAG currently owns 49% of Coronado, listed on the NEX board of the TSX Venture Exchange. This has been on TAG’s balance sheet for several years, and this is a one-time dividend to divest the shares from TAG’s balance sheet. Once complete, TAG will no longer own Coronado shares and as such it will not be ongoing.  Coronado is actively searching for…

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Success at Cheal-E8

The results are in! Our most recent exploration well, Cheal-E8 has naturally free flowed oil and gas on choke at an average rate of 318 boe/d over a four and a half day test. With the success of the drilling and flow testing, Cheal-E8, of which TAG has a 70% working interest, will now be tied in to TAG’s existing infrastructure as a permanent producer. Next up in TAG Oil’s exploration program is the Cheal-D1 exploration well. Also on the Cheal East Permit, the pad is currently under construction and…

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The Race Across America

Thirty percent longer than the Tour de France, the Race Across America is one of the hardest bike races in the world. The Race starts in Oceanside, California, and finishes in Annapolis, Maryland, covering 3000 miles, across 12 states, and climbing over 170,000 vertical feet.  Not only is it longer than the Tour, but racers must finish the distance in half the time with no rest breaks.  Cycling at its most grueling. What does this have to do with TAG Oil? Chad Williams will be competing in the solo category…

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Why TAG Oil?

We at TAG Oil have no doubt that we’ve firmly positioned TAG to both grow and have a successful future, whether oil prices stay at their current levels or proceed to get higher. Our beliefs are based on the solid foundation on which TAG has been built and expanded upon through our years of operations.  Here’s a little bit of that foundation: Our experienced corporate, production, drilling and operations teams bring a level of expertise that’s unparalleled in the industry. The experience and belief in the Company have led several…

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An onsite look from TAG production manager, Ryan Bierele

TAG Oil production manager, Ryan Bierele, took a few minutes to talk about what the TAG team in New Zealand has been up to at the Cheal C Cardiff site. As Ryan says, “Hopefully we can unlock some of this and get her going!”  Take a look:    

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ERC Equipoise Oil Price Review Report – 2017 Q2

ERC Equipoise has released their newest oil price review for Q2 2017, and with their consent, TAG Oil is able to offer this report to its followers. Through ERCE’s extensive review of historical, recent and current oil and gas prices, they look at global macro indicators influencing trends. They also take in the views presented by other petroleum consultants and analysts. The report helps investors understand oil market fundamentals and trends, and gives a look into oil price assumptions by not only ERCE, but by forecasts from the SEC and…

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