Wednesday, 25 July 2012

New Zealand Energy bulks up management team as it expands activities in the region

New Zealand Energy (CVE:NZ) announced Wednesday a number of appointments to its management team, as the oil and natural gas company increases its exploration and production activities in New Zealand.
The expansion of its team includes the appointment of Bruce McIntyre to the position of executive director, Chris Bush to the role of New Zealand country manager, Mike Oakes to the role of general manager of midstream operations, and the appointment of Cliff Butchko to the position of general manager of upstream operations.
McIntyre has been president of New Zealand Energy since January 2011, and has been key to the company’s growth. As executive director, he will have the job of overseeing exploration and development opportunities and will continue to represent the company within the investment community.
Bush will start his role as New Zealand country manager in October of this year. He has more than 30 years of oil and gas experience in both upstream and downstream sectors in New Zealand, Australia, Canada and the United States, and his position will involve overseeing all aspects of the company’s in-country activities, such as government and community relations.
Prior to joining New Zealand Energy, Bush was New Zealand country manager/director at Origin Energy, where he helped establish its oil and gas business.
Oakes will start the role of general manager of midstream operations in early August, where he will be in charge of the producing wells and operation of the Waihapa Production Station. He also worked at Origin Energy, as asset manager and operational advisor where he oversaw the development and operation of the company’s oil and gas assets and production facilities.
Butchko, meanwhile, has been appointed general manager of upstream operations, after joining New Zealand Energy in March 2011. He has over 30 years practice as a professional engineer with oil and gas experience in both technical and business roles.
He will manage all site activities in his new position, including procurement of well hardware and drill rigs, construction and operation of pipelines, and drilling, completions and production activities.
"NZEC's ability to attract the industry's top professionals is testament to the prospectivity of our asset base and the strength of our team," said the company’s CEO, John Proust.
"With a significant exploration program set to begin in early August, NZEC is building the foundation to support continued growth in all areas of its business."
New Zealand Energy is focused on the production, development and exploration of petroleum and natural gas assets in New Zealand.
The company’s property portfolio collectively covers two million acres of conventional and unconventional prospects in the Taranaki Basin and East Coast Basin of New Zealand's North Island.
At the beginning of July, the company announced that continuous production has begun at its Copper Moki-3 well on its 100 per cent-owned Eltham permit in the Taranaki Basin.
The company also said that its Copper Moki gas pipeline is complete and tied in to the Waihapa Production Station, with the operator finalizing arrangements to receive the gas.
Cash flow is expected to be generated from natural gas production this month.
The Waihapa Production Station will give the company strategic control over gathering, processing and sales infrastructure in the Taranaki Basin. The company expects to be able to quickly bring on its own near-term production additions, and also sees business opportunities for processing oil and gas from third-party producers in the region.
Company shares edged up 0.60 per cent to $1.69 Wednesday afternoon.

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