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Research Tree offers TRANSGLOBE ENERGY CORP research coverage from 2 professional analysts, and we have 22 reports on our platform.
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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.
REPORTS 1Q16 RESULTS
12 May 16
Neutral. TransGlobe posted 1Q16 production of 12,058 bbl/d and negative cash flow of US$2.8 mm that was in line with expectations. The Company is guiding toward 2Q16 production of 10,800 bbl/d (FCC 11,758 bbl/d); however, a recovery plan to reinstate curtail and shut-in production in 4Q16e will offset nearterm production declines. Furthermore, TransGlobe has commenced the 2016/2017 drilling program, which should result in incremental production additions in 2H16e.
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