Newsletter subscribe
Tag: Transglobe

TransGlobe announces 2017 Capital Budget and Production Outlook

Posted: February 6, 2017 at 3:53 pm   /   Oil & Gas

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 […]

No Comments read more

TransGlobe Energy Corporation announces Operational Update

Posted: February 1, 2017 at 8:25 pm   /   Oil & Gas

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 […]

No Comments read more

TransGlobe Energy announces Mid-Quarter Egypt Update for Q4 2016

Posted: December 22, 2016 at 3:03 pm   /   Oil & Gas

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 […]

No Comments read more

Oil Ministry makes $100 million payment to smaller IOCs

Posted: December 18, 2016 at 11:17 pm   /   Oil & Gas

The Oil Ministry made a USD 100 million payment to IOCs for overdue receivables, Al Mal reported. The payment was not made to major operators, but to smaller companies, including Circle Oil, TransGlobe Energy, and SDX, a source said. The source noted specifically that Circle Oil got 30% of its total receivables with a payment […]

No Comments read more

Egyptian Military gives TransGlobe green light on South Alamein

Posted: September 17, 2016 at 1:36 pm   /   Oil & Gas

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, […]

No Comments read more

TransGlobe Energy Corporation announces access to South Alamein and proposed amendments to Convertible Debentures

Posted: September 13, 2016 at 8:50 pm   /   Oil & Gas

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 […]

No Comments read more

Independent Resources close to extracting revenue at East Ghazalat

Posted: May 12, 2016 at 1:27 pm   /   Oil & Gas

Independent Resources was moving closer to extracting revenue from its East Ghazalat concession in Egypt on Tuesday, as it updated the market on the project’s recent developments. The firm holds a 50% share in East Ghazalat, along with fellow AIM-traded company Nostra Terra Oil & Gas. Its board said it was continuing to make progress […]

No Comments read more

Seeking Alpha: Apache Energy – Turnaround and Future Growth

Posted: April 18, 2016 at 10:00 am   /   Oil & Gas

Summary The company has $1.5 billion in cash and a $3.5 billion credit line that does not mature until 2020. Even then it can be extended. The current ratio is nearly two-to-one. Egyptian wells are low cost and provide the means to profitably increase production. North Sea wells are more expensive but also highly profitable. […]

No Comments read more

Fall of oil price pushes EGPC to halt tender for new exploration

Posted: January 10, 2016 at 7:57 pm   /   Oil & Gas

The price of Brent on international markets recorded $34.4 on Wednesday and reached a maximum of $45 in November. The Egyptian General Petroleum Corporation (EGPC) postponed offering new exploration tenders for oil and gas for foreign companies in ten areas until prices of Brent oil stabilise in international markets, instead of offering tenders early in […]

No Comments read more

TransGlobe Energy – East Ghazalat asset receives a good price

Posted: October 9, 2015 at 6:22 pm   /   Oil & Gas

Independent Resources and Nostra Terra, which are both party to a 50:50 JV with the express purpose to acquire E&P assets in North Africa, have agreed to acquire TransGlobe’s East Ghazalat concession in Egypt. TGA holds a 50% working interest in East Ghazalat, for which the JV is to pay $3.5m. This represents a significant […]

No Comments read more