New Zealand Oil & Gas

What New Zealand Oil & Gas does

New Zealand Oil & Gas, currently branded as Echelon Resources, is a Wellington-headquartered, ASX-listed (ticker ECH) exploration and production company with a 40+ year operating history in the Australasian energy sector. The company holds a portfolio of producing and exploration acreage across Australia, New Zealand, and Indonesia, with Indonesia operations consolidated under a wholly-owned subsidiary, Cue Energy Resources. Producing assets include the Mahato field in central Sumatra, which entered production in 2021, and the Sampang field in East Java, which produces mainly gas; exploration in New Zealand is being wound down while production continues. The company employs 11-50 people and is registered as a public limited company, with public shareholder ownership distributed across the ASX.

The business model is conventional upstream E&P: the company generates revenue through the sale of produced hydrocarbons (oil from Mahato, gas from Sampang and Australian assets) into commodity markets. There is no publicly disclosed pricing model or product-level revenue split; revenue is a function of production volumes, realized commodity prices, and the company's working-interest share in each asset. Capital is raised via the public ASX listing, and the company maintains a dedicated investor dashboard, annual reports dating back to 2014, and a news/announcements channel. Customer relationships are defined by offtake arrangements typical of E&P (refiners, gas buyers, LNG offtakers), though specific counterparties are not disclosed.

Strategically, the company emphasizes rigorous scientific and engineering analysis, ethical operations, and sustainability commitments — including partnerships with the New Zealand native-tree planting initiative Trees That Count and the diversity initiative Toitū Takatapui. The portfolio posture is consolidating toward producing assets in Australia and Indonesia, with the Indonesian platform (Cue Energy Resources) positioned as the primary growth vehicle. There is no evidence of meaningful software, digital platform, or AI/ML capability in the input data.

Name

New Zealand Oil & Gas

Legal name

Echelon Resources

Website

https://nzog.com

Company type

Public

Founded year

1985

Operating status

Operating

Headcount range

11–50 employees

Short description

New Zealand Oil & Gas (branded Echelon Resources) is a Wellington-based, ASX-listed (ECH) exploration and production company with 40+ years of history, holding producing and exploration assets across Australia, New Zealand, and Indonesia, including the Mahato and Sampang fields operated via wholly-owned subsidiary Cue Energy Resources.

Ownership category

akta.pro rank

Product category

Upstream Oil and Gas Exploration and Production

NAICS

Oil and Gas Extraction (211), Natural Gas Extraction (21113), Crude Petroleum Extraction (211120)

SIC

Crude Petroleum & Natural Gas (1311)

akta.pro primary industry

Offshore E&P (Shallow/Deepwater, Subsea Production Systems) (EUALAAAI)

Keywords

• Oil and gas exploration
• Oil and gas production
• Upstream energy operations
• Hydrocarbon acreage development
• Australasian energy assets

Headquarters

HQ city

Wellington

HQ country

New Zealand

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Distribution channels1 record

Marketing channels3 records

Core offering

New Zealand Oil & Gas (operating as Echelon Resources) is an Australasian upstream energy company that explores for, develops, and produces oil and gas from a portfolio of producing and exploration acreage in Australia, New Zealand, and Indonesia. Indonesian production is delivered through its wholly-owned subsidiary Cue Energy Resources, with producing assets including the Mahato field in central Sumatra (on production since 2021) and the Sampang field in East Java (primarily gas).

Differentiator

Problem solved

Functional benefit

Products and services

• Mahato field production (Indonesia) Crude oil production from the Mahato field in central Sumatra, Indonesia, held and operated through wholly-owned subsidiary Cue Energy Resources. The asset entered production in 2021 and contributes to the company's hydrocarbon revenue stream.
• Sampang field production (Indonesia)
• Australian oil and gas acreage portfolio
• New Zealand oil and gas acreage portfolio

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered minor and core.

• Trees That CountminorOthersEchelon Resources partners with Trees That Count, a New Zealand initiative supporting native tree planting and environmental sustainability, as part of their sustainability commitments.
• Toitū TakatapuiminorOthersEchelon Resources partners with Toitū Takatapui, a New Zealand diversity and inclusion initiative, demonstrating commitment to diversity and cultural responsibility in their operations.
• Cue Energy ResourcescoreStrategic or Co-development PartnerCue Energy Resources is a subsidiary through which Echelon holds its Indonesian interests, including production from the Mahato field in central Sumatra (entered production in 2021) and the Sampang field in East Java which produces mainly gas.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Comet Ridge: ASX-listed small-cap E&P focused on gas exploration and development in eastern Australia; comparable in scale and strategy as a small Australasian upstream operator.
• Blue Energy: ASX-listed small-cap E&P with conventional and unconventional gas exploration assets in Queensland; directly comparable as a small Australian upstream gas explorer.
• Empire Energy Group: ASX-listed small-cap E&P focused on unconventional gas development in the Northern Territory of Australia; comparable as a small-scale Australasian upstream exploration and production operator.
• Cooper Energy: ASX-listed E&P focused on gas-weighted production in the Cooper Basin and offshore Australia; directly comparable small-cap Australasian upstream producer with similar geographic and operational footprint.
• Beach Energy: ASX-listed Australian E&P company with producing oil and gas assets across the Cooper, Otway, and Bass basins; directly comparable as a small-to-mid cap regional oil and gas producer and explorer with Australasian focus.
• Carnarvon Petroleum: ASX-listed small-cap E&P with offshore Western Australia exploration and producing assets; comparable as a small Australasian upstream player pursuing exploration-led growth.

Broad incumbents

• Woodside Energy: Large ASX-listed E&P company with significant Australian and international operations; serves as a major incumbent in the Australasian upstream oil and gas sector.
• Santos: Major ASX-listed oil and gas producer with extensive operations across Australia and Asia; comparable as a broader incumbent in the same regional upstream space and likely buyer of smaller Australasian assets.

Regional players

• INPEX Corporation: Major Japanese upstream operator with significant Indonesian production assets including the Mahakam Block; comparable as a foreign upstream operator active in the same Indonesian basins where Echelon's Cue Energy produces.

Others

• Cue Energy Resources: ASX-listed Indonesian-focused E&P operating the Mahato and Sampang fields; a wholly-owned subsidiary of Echelon, so not a true peer but a closely related entity executing the company's Indonesian production strategy.

Market position

Strengths4 records

Weaknesses2 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about New Zealand Oil & Gas