Market Impact: Positive. TransGlobe's 2Q16 production of 11,472 bbl/d was in line with prior guidance and our expectations. The Company's 2Q16 cash flow was US$2 mm, which was greater than our estimate of US$0.3 mm. TransGlobe has drilled two successful exploration wells (NWG 27 and NWG 38), which has resulted in a YTD success rate of 40% (better than expected), additional drilling opportunities that have been de-risked, and the evaluation of 10 additional leads that were contingent on succes
11 Aug 2016
REPORTS POSITIVE 2Q16 RESULTS AND EXPLORATION DRILLING SUCCESS
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
REPORTS POSITIVE 2Q16 RESULTS AND EXPLORATION DRILLING SUCCESS
- Published:
11 Aug 2016 -
Author:
Darren B. Engels -
Pages:
3
Market Impact: Positive. TransGlobe's 2Q16 production of 11,472 bbl/d was in line with prior guidance and our expectations. The Company's 2Q16 cash flow was US$2 mm, which was greater than our estimate of US$0.3 mm. TransGlobe has drilled two successful exploration wells (NWG 27 and NWG 38), which has resulted in a YTD success rate of 40% (better than expected), additional drilling opportunities that have been de-risked, and the evaluation of 10 additional leads that were contingent on succes