TransGlobe starts drilling new well at South Ghazalat concession
TransGlobe Energy announced yesterday that it began drilling for oil at its SGZ 6X exploration well in the South Ghazalat concession in the Western Desert. The company also said that it successfully began production from two wells in West Bakr in the Eastern Desert, with output from each well currently averaging around 800 bpd, exceeding […]
TransGlobe announce update on Boraq-5, disappointed with test results
TransGlobe Energy Corporation announces an update on the Boraq 5 test results. Arab Republic of Egypt South Alamein Concession (100% working interest, operated) In the Western Desert, the Company has completed testing two zones in the Boraq 5 appraisal well. The Boraq 5 well failed to produce any hydrocarbons from the two zones. The lower […]
Egypt and cashflow are the key to TransGlobe Energy’s recovery
Company believes Egypt still offers a fantastic opportunity for oil exploration. Egypt has been a tough place to operate for oil and gas companies in recent years, especially the western ones. Markets are also wary given the political upheaval, but Toronto and NASDAQ-listed oil producer TransGlobe Energy Corporation reckons the share price treatment it has […]
TransGlobe announces Q2 2017 financial and operating results
TransGlobe Energy Corporation announced its financial and operating results for the three and six months ended June 30, 2017. All dollar values are expressed in United States dollars unless otherwise stated. TransGlobe’s Condensed Consolidated Interim Financial Statements together with the notes related thereto, as well as TransGlobe’s Management’s Discussion and Analysis for the three month […]
TransGlobe announces 2017 Capital Budget and Production Outlook
HIGHLIGHTS • 2017 capital budget of $56.4 million ($35.2 million firm and $21.2 contingent). • Egypt $25.8 million firm and $14.4 million contingent. • 2017 production of 15.5 to 18.5 MBoepd representing an increase of 30% to 55% over 2016. • Egypt 13.0 to 15.5 MBopd in 2017. • Canada 2.5 to 3.0 MBoepd in […]
TransGlobe Energy Corporation announces Operational Update
Highlights: • Company production for January 2017 averaged ~16,817 Boepd (~14,013 Bopd Egypt). • December 2016 average rate ~14,140 Boepd (13,074 Bopd Egypt). • Q4-2016 production averaged 12,882 Boepd (12,790 Bopd Egypt). • First oil production from North West Gharib (“NWG”) concession late December 2016. • NWG 3 on production ~1,000 Bopd flowing. • Drilled […]
TransGlobe Energy announces Mid-Quarter Egypt Update for Q4 2016
TransGlobe Energy Corporation announced the mid-quarter Egypt update for the fourth quarter of 2016. All dollar values are expressed in Canadian dollars unless otherwise stated. Mid-Quarter Operational Highlights, Arab Republic of Egypt: Production Recovery Plan (“PRP”) is on target to achieve 13,000 to 14,000 Bopd by year end 2016. Q4 production expected to meet or […]
Egyptian Military gives TransGlobe green light on South Alamein
TransGlobe Energy has finally received the approvals needed to proceed with its exploration program on its South Alamein Concession in Egypt. The company had been waiting to receive military access approvals in order to move forward on its program. The approvals are the result of significant efforts on the part of the Minister of Petroleum, […]
TransGlobe Energy Corporation announces access to South Alamein and proposed amendments to Convertible Debentures
TransGlobe Energy Corporation is pleased to announce an operational update on the South Alamein concession and calling of a meeting of the holders of its 6.0% convertible debentures. South Alamein, Arab Republic of Egypt (100% working interest, operated) The Company is very pleased to announce that it has received military access approvals to commence work […]
