NZ Oil & Gas buys back into Kupe at lower price after Genesis paid premium to augment LPG strategy

Wed, 17 May 2017

By Jonathan Underhill May 18 (BusinessDesk) - New Zealand Oil & Gas has bought back into the Kupe oil and gas field at a lower price than it sold to Genesis Energy just months ago when it took advantage of Genesis's appetite for natural gas assets to augment its LPG strategy. NZOG has agreed to buy Mitsui E&P Australia's 4 percent interest in Kupe for $35 million in a transaction with an effective date of Jan. 1, meaning it comes less than two months after it agreed to sell its original 15 percent holding in the field to Genesis for $168...

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