NZOG back in black after Kupe sale, keeps dividend unchanged

Tue, 29 Aug 2017

By Paul McBeth Aug. 29 (BusinessDesk) - New Zealand Oil & Gas was back in the black and kept its dividend unchanged after reaping a $95 million gain on the sale of its stake in the Kupe oil and gas fields and trimming its operating and exploration costs. The Wellington-based company reported a net profit to shareholders of $61.2 million, or 20 cents per share, in the 12 months ended June 30, turning around a loss of $35.9 million, or 8.6 cents, a year earlier, it said in a statement. The bottom line was bolstered by the $168 million sale...

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