TransGlobe Energy announces its Egypt operations update
TransGlobe Energy has announced an update on its operations in Egypt and Canada. All dollar values are expressed in US dollars unless otherwise stated. OVERVIEW Production averaged 12.1 MBoepd in Q2, 2022 to 11 June; Drilled and cased four Egypt Eastern Desert development wells in Q2, 2022 to date; and The Company sold a ~451 Mbbl […]
TransGlobe Energy announces its 2021 year end reserves
TransGlobe Energy has announced the results of its independent reserves evaluation for the year ended December 31, 2021 as prepared by GLJ Ltd. All dollar values are expressed in US dollars unless otherwise stated. HIGHLIGHTS Proved Developed Producing (‘PDP’) gross reserves increased 30% to 19.9 MMboe from 15.3 MMboe at year end 2020. Total proved (‘1P’) gross reserves increased […]
TransGlobe Energy announces Eastern Desert contract execution
TransGlobe Energy has announced execution of the new concession agreement consolidating and amending its three existing Eastern Desert concession agreements (West Gharib, West Bakr and North West Gharib). All dollar values are expressed in US dollars unless otherwise stated. Production Sharing Contract Finalization TransGlobe has signed the Agreement which was ratified into law in December 2021 by […]
TransGlobe announces amendment of Egypt’s Eastern Desert Production Sharing Contracts
TransGlobe Energy announces ratification of the consolidated and amended Eastern Desert Production Sharing Contracts. TransGlobe Energy has announced the ratification of the consolidated and amended Eastern Desert Production Sharing Contracts. Production Sharing Contract Ratification TransGlobe has received notification that its agreement with the Egyptian General Petroleum Corporation (‘EGPC’) to merge, amend and extend its three existing Eastern Desert concessions […]
TransGlobe agrees with EGPC to merge, extend & modernize its Eastern Desert Concessions
TransGlobe Energy Corporation announced it has reached an agreement with the Egyptian General Petroleum Corporation (“EGPC”) to merge the Company’s three existing Eastern Desert concessions (the West Gharib, West Bakr and North West Gharib concessions) into a new modernized concession agreement (the “Merged Concession” or “Agreement”). The Agreement is subject to the usual Egyptian Parliamentary […]
Pharos, TransGlobe slash spending in response to oil market volatility
Energy companies in Egypt are adapting to the new realities in the oil markets: The collapse in oil prices is forcing energy companies in Egypt onto the defensive: Energy companies operating in Egypt, including Pharos Energy and TransGlobe Energy, are responding to oil market volatility by slashing spending and adjusting production metrics in 2020, Energy […]
TransGlobe Energy announces its 2020 capital budget, 2019 year-end reserves
TransGlobe Energy has announced its 2020 capital budget, 2020 production guidance, and 2019 year-end reserves. All dollar values are expressed in US dollars unless otherwise stated. 2020 BUDGET HIGHLIGHTS TransGlobe has set its 2020 capital budget at $37.1 MM (before capitalized G&A); Egypt $23.7 MM Canada $13.4 MM 2020 average production guidance is set at 14.5 […]
TransGlobe SGZ-6X discovery due on stream in new development lease
TransGlobe Energy Corp., Calgary, plans to bring its South Ghazalat (SGZ)-6X discovery in Egypt’s Western Desert on production at an initial rate of 1,000 b/d of 34° gravity crude oil in this year’s fourth quarter under a newly approved develop lease. The company will use initial production from the Late Cretaceous Upper Bahariya formation to […]
TransGlobe’s South Ghazalat 6X exploration well flows oil
Third time lucky for Canadian player as it flows oil and gas from new discovery. Highlights Tested a combined 3,840 Bopd of light (35-38 API) oil from individual tests in the Upper and Lower Bahariya formations in the South Ghazalat 6X exploration well Flowed 2,437 Bopd of light oil, 21 Bpd of water and 1.4 […]
TransGlobe Energy sets 2019 Capital Budget for Egypt at $24.1 million
TransGlobe Energy Corporation announces the 2019 plan and capital budget. HIGHLIGHTS 2019 capital budget of $34.1 million (before capitalized G&A) Egypt $24.1 million Canada $10.0 million (C$13.0 million) 2019 production of 14.0 to 15.0 MBoepd with a mid-point of 14.5 MBoepd Egypt 11.6 to 12.4 MBopd in 2018 Canada 2.4 to 2.6 MBoepd in 2018 […]