Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on TRANSGLOBE ENERGY CORP. We currently have 25 research reports from 2 professional analysts.
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Research reports on
TRANSGLOBE ENERGY CORP
TRANSGLOBE ENERGY CORP
GMP FirstEnergy ― UK Energy morning research package
06 Dec 16
Transglobe Energy (TGL CN); BUY, C$5.25: Homeward bound… back to Canada | Great Eastern Energy Corporation (GEEC LN) (not covered): Reserves update in India | BP (BP LN) (not covered): Acquiring interest in Tangguh in Indonesia | Exillon Energy (EXI LN) (not covered): Production update in Russia | Genel Energy (GENL LN); SPECULATIVE BUY, £2.60: Receipt of payment for Taq Taq export in Kurdistan | ExxonMobil (XOM US) (not covered): Relinquishing blocks in Kurdistan
Reports Positive 2Q16 Results and Exploration Drilling Success
12 Aug 16
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 success. In addition to early exploration success and a continuous exploration drilling program for 2H16e, TransGlobe is positioning itself for material production growth leading into year-end 2016e via its production recovery plan. Exit 2016e production between 13,000 bbl/d and 14,000 bbl/d implies production growth between 13% and 22% from 2Q16 results. TransGlobe’s 2Q16 production of 11,472 bbl/d and cash flow of US$0.7 mm was in line with expectations.
REPORTS POSITIVE 2Q16 RESULTS AND EXPLORATION DRILLING SUCCESS
11 Aug 16
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 success.
Increases Production Guidance with Positive Operational Update
24 Jun 16
TransGlobe has increased its 2Q16e production guidance by 6% to 11,400 bbl/d. Exit 2016e production guidance between 13,000 bbl/d and 14,000 bbl/d represents growth between 14% and 23% from current levels. This production growth is from low-risk development opportunities, does not include exploration success, and can be achieved on less than expected capital expenditures. TransGlobe plans on drilling an additional 16 exploration wells by year-end, which could result in incremental reserve and production growth potential.
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
The Monthly January 2017
09 Jan 17
Despite all the hullaballoo of the Brexit vote and the subsequent election of Donald Trump as the next US President, the UK stock market prospered last year, especially in the latter few months of 2016. The combination of a depreciating currency – making $ earnings more valuable in relative terms - and the Trump emphasis on infrastructure expenditure drove the stock market higher
Small Cap Breakfast
17 Jan 17
Global Energy Development (GED.L) — To be renamed Nautilus Marine Services. Schedule 1 from developer and seller of hydrocarbons and related products. Reverse takeover. Raising $10.5m via a convertible. Expected 9 Feb. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January.
Minor delay but lower cost and better visibility enhance the investment profile
13 Jan 17
First oil at Stella is delayed by about a month, reducing the contribution of Stella to FY17 production by the same period. While this has an impact on FY17e free cash flow, this is negligible to our valuation. More importantly, FY17 opex are estimated at only US$18/boe, below our estimates of US$20/boe. There are opportunities to reduce opex further. Harrier is expected to reach first oil in 2018, one year earlier than we expected and at a cost of US$40 mm lower than we anticipated. The overall development cost is less than US$6.0/boe. Ithaca holds numerous discoveries around Stella that would be developed with a similar cost structure to Harrier.