Construction officially starts at Lekela’s 250 MW West Bakr wind farm
Siemens Gamesa starts work on Lekela’s 250 MW West Bakr wind plant: Siemens Gamesa has begun building a 250 MW wind plant in West Bakr in the Gulf of Suez, which is expected to increase Egypt’s wind energy capacity by 18% once completed in 2021, operator Lekela Egypt said in a statement. The company will […]
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 […]
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 […]
