New Zealand Energy Corp reports Q1 2025 financial results

New Zealand Energy Corp. (NZEC) reported its financial results for the first quarter of 2025, posting a net loss of $994,550 while focusing on production recovery and gas storage development projects.

Partagez:

New Zealand Energy Corp. (TSXV: NZ) released its consolidated financial results for the first quarter of 2025, reporting a net loss of $994,550, compared to a loss of $914,919 during the same period in the previous year. The company also reported a cash balance of only $155,930 at the end of the quarter, a notable decline from CAD1.1mn (approximately $800,000) at the end of the previous quarter. Operating activities used $665,681 in cash, an increase from $397,608 in Q1 2024.

Focus on gas storage project

The company redirected its priorities towards the Tariki Gas Field conversion project during the first quarter, following a decline in production at the Tariki-5A well. In response, NZEC restored several wells in the Waihapa-Ngaere area to resume production. By the end of the quarter, four wells had returned to service, with two more expected by the end of Q2, targeting production of 50 to 80 barrels of oil per day (bopd), with NZEC’s share ranging from 25 to 40 bopd.

Progress in gas storage development

In parallel, NZEC launched preliminary reservoir studies for the Tariki gas storage project, with initial recommendations expected by mid-June 2025. The project is expected to advance to a Final Investment Decision (FID) by the end of 2025, with ongoing commercial discussions under way with potential gas storage customers.

Future investments and outlook

Development of the gas storage facilities continues, with design studies in progress, while the company focuses on restoring short-term profitability through production ramp-up. The Tariki gas storage project is expected to remain a top priority for NZEC over the next 12 months.

Energy Transfer strengthens its partnership with Chevron by increasing their liquefied natural gas supply agreement by 50% from the upcoming Lake Charles LNG export terminal, strategically aiming for long-term supply security.
Woodside finalises the divestment of a 40% stake in the Louisiana LNG project to Stonepeak, injecting $5.7 billion to accelerate developments and optimise financial returns ahead of first gas delivery scheduled in 2026.
Keranic Industrial Gas seals a sixty-day exclusivity deal to buy Royal Helium’s key assets, raise CAD9.5mn ($7.0mn) and bring Alberta’s Steveville plant back online in under fifteen weeks.
The Irish-Portuguese company Fusion Fuel strengthens its footprint in the United Arab Emirates as subsidiary Al Shola Gas adds AED4.4 mn ($1.2 mn) in new engineering contracts, consolidating an already robust 2025 order book.
Cheniere Energy validates major investment to expand Corpus Christi terminal, adding two liquefaction units to increase its liquefied natural gas export capacity by 2029, responding to recent international agreements.
A study by the International Energy Agency reveals that global emissions from liquefied natural gas could be significantly reduced using current technologies.
Europe is injecting natural gas into underground storage facilities at a three-year high, even as reserves remain below historical averages, prompting maximized imports of liquefied natural gas (LNG).
South Korea abandons plans to lower electricity rates this summer, fearing disruptions in liquefied natural gas supply due to escalating geopolitical tensions in the Middle East, despite recent declines in fuel import costs.
Russia positions itself to supply liquefied natural gas to Mexico and considers expanded technological sharing in the energy sector, according to Russian Energy Minister Sergey Tsivilyov.
Nepal reveals a significant potential reserve of methane in the west of the country, following exploratory drilling conducted with technical support from China, opening new economic prospects.
Petronas formalizes a memorandum with JOGMEC to secure Japanese LNG deliveries, including a first cargo from LNG Canada scheduled for July at Toho Gas.
Belgrade is currently finalising a new gas contract with Russia, promising Europe's lowest tariff, according to Srbijagas General Director Dusan Bajatovic, despite Europe's aim to eliminate Russian imports by 2027.
TotalEnergies and QatarEnergy have won the Ahara exploration licence, marking a new stage in their partnership with SONATRACH on a vast area located between Berkine and Illizi.
After four years of interruption due to regional insecurity, TotalEnergies announces the upcoming resumption of its liquefied natural gas project in Mozambique, representing a $20bn investment.
The French group has acquired from PETRONAS stakes in several licences covering more than 100,000 km² off Malaysia and Indonesia, consolidating its Asian presence and its exposure to the liquefied natural gas market.
In response to rising summer electricity consumption, Egypt signs import agreements covering 290 shipments of liquefied natural gas, involving major international firms, with financial terms adjusted to the country’s economic constraints.
Egyptian fertilizer producers suspended their activities due to reduced imports of Israeli gas, following recent production halts at Israel's Leviathan and Karish gas fields after Israeli strikes in Iran.
A report identifies 130 gas power plant projects in Texas that could raise emissions to 115 million tonnes per year, despite analysts forecasting limited short-term realisation.
Japanese giant JERA will significantly increase its reliance on US liquefied natural gas through major new contracts, reaching 30% of its supplies within roughly ten years.
Sustained growth in U.S. liquefied natural gas exports is leading to significant price increases projected for 2025 and 2026, as supply struggles to keep pace with steadily rising demand, according to recent forecasts.