TAG Oil sells Taranaki royalty assets

The Cheal onshore field in the Taranaki Basin. (Image: Matahio Energy)

Thu, 24 Apr 2025

TAG Oil has sold its non-core royalty assets in New Zealand for US$2.5 million (NZ$4.2m), six years after exiting the country.On April 8, the Canadian oil and gas company said its NZ subsidiaries had entered an agreement to sell NZ royalty interests to an “arm’s length party” for up to US$2.5m.Sale detailsThis week, TAG announced that it had closed the sale of its 2.5% gross overriding royalty on production from the Cheal, Cardiff, Sidewinder, Supplejack, Puka, and Cheal East permits in Taranaki to Kiwi Royalty.TAG chief execu...

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