New Zealand Oil & Gas is looking to grow regionally through acquiring high quality assets, using our well-developed expertise in oil and gas and leveraging the capabilities of the wider group, while working within our means.

Following the conclusion of the Scheme of Arrangement in 2019, the New Zealand Oil & Gas Board undertook a strategic review of the future direction of the company.

Beginning in early 2020, board members conducted a series of meetings, in person and over the phone, with certain of New Zealand Oil & Gas’ largest shareholders. At the same time, management conducted an extensive review of assets in the Australia / New Zealand region that are of a size that the company can afford.  Finally, the Board convened a series of strategy sessions during which this information has been distilled and debated.

During this period, the world has been turned on its head because of the COVID-19 pandemic and the unprecedented global response. The impact on energy markets worldwide has been profound, with US oil prices recently going negative for the first time in history. With a portfolio weighted heavily towards gas and a strong balance sheet, New Zealand Oil & Gas has weathered this storm admirably.

We are optimistic that distress in energy markets will provide NZOG with growth opportunities. In identifying these, New Zealand Oil & Gas will be guided by the following key principles:



We will look to grow regionally. Our focus remains oil and gas assets in geographies where we have a clear advantage, primarily Australia and New Zealand.



We are not content to sit and wait for the results of Ironbark. We will look to acquire high quality assets, using our well-developed expertise in oil and gas and leveraging the capabilities of the wider group, as we consider opportunities to acquire producing assets and development projects, as well as exploration prospects.



While we work to identify compelling investment opportunities and have access to a significant cash balance, we realise accessing additional capital is a challenge in today’s market. While we cannot tell what the future might bring, acquisitions of a transformative scale cannot be our sole focus. Instead, working within our means, we will pursue investment opportunities of a size and scale that the company’s current balance sheet can support, without having to raise significant additional capital.



We understand the uniqueness of New Zealand’s lightly-explored environment, and as New Zealanders we bring our values of respect to managing it.

We position ourselves as the partner of choice for upstream oil and gas activity in Australasia, based on our New Zealand values , behaviours  and commitment to our community.