The NZ awards all look to be broken fares with the VA segment on SYD-AKL always coming in at 40K miles (CSM400). The cheapest from ATL appears to be 150K one-way with ATL-LAX-SYD at 110K (CSLB1100) + the 40K SYD-AKL.
The 187K example above looks to be a combination of 3 fares -- FSD375 ATL-LAX + CSLB1100 LAX-SYD + CSM400 SYD-AKL.