Z Energy chief executive Mike Bennetts says he expects it will be about four months before the company is ready to roll out the rebranding of the remainder of its Shell stations.
Z Energy, a partnership between Infratil and the New Zealand Superannuation Fund, paid nearly $700 million for Shell's retail and distribution assets in April last year.
It has so far rebranded 10 of its 226 service stations around the country as part of a pilot scheme to test the brand.
The company had estimated the rebrand to cost $35 million but Mr Bennetts says he is confident it will come in at less than that.
He says the company will spend the next few months taking more time to listen to customers and establish what they want from a service station.
Mr Bennetts says pilot service stations have been located in different parts of the country to make sure the company understands customers' regional differences.
He says the rollout needs to be done promptly, perhaps over a six month period, to have an impact in the marketplace and because two brands can confuse customers.
Mr Bennetts says the company plans to concentrate the roll-out geographically so regions are rebranded all at once.