The combined production from TAG Oil’s BED4-T100 horizontal well and BED 1-7 vertical well at the Badr Oil Field (BED-1) in Egypt’s Western Desert averaged approximately 80 barrels of oil per day (bbl/d) during the Fourth quarter(Q4) of 2025. According to a company press release, average output for the full year ended December 31, 2025, stood at roughly 84 bbl/d, with cumulative gross production from both wells surpassing 83,000 barrels.
While Badr El Din Petroleum Company (Bapetco), the joint venture(JV) between the Egyptian government and Cheiron owns and runs the entire Badr Oil Field (BED-1). TAG Oil’s involvement is limited to a service agreement focused on developing a specific subset of wells within the Badr Oil Field.
According to the release, in 2025, the company advanced its Egyptian operations, securing an extension of the evaluation period under the BED‑1 petroleum services agreement to October 13, 2028. The extension allows additional time to drill two further wells and assess the commercial potential of the Abu Roash ‘F’ reservoir.
During the year, the company also strengthened its balance sheet through the sale of its royalty interests in New Zealand and Australia, generating proceeds of approximately $3.2 million. For the year ended December 31, 2025, the company recorded oil sales of approximately $1.39 million, up from $0.86 million in 2024, and reported a net loss of $4.8 million compared to $6.3 million in the prior year. As of December 31, 2025, cash stood at $2.5 million with working capital of about $1.9 million.
TAG Oil completed a brokered financing in February 2026, raising gross proceeds of $11.5 million and significantly strengthening its liquidity position. The funds are earmarked to advance appraisal and development activities at the BED‑1 and Southeast Ras Qattara concessions, including drilling and fracture evaluation programs. The company also continues to assess joint venture opportunities and pursue strategic acquisitions to support the growth of its unconventional resource portfolio in Egypt and across the broader Middle East and North Africa region.
