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Share Name Share Symbol Market Type
TransGlobe Energy Corporation TSX:TGL Toronto Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.17 4.01% 4.41 4.40 4.41 4.43 4.25 4.28 46,929 17:44:06

Transglobe Energy 2Q Production Rose on Quarter

23/06/2021 9:10am

Dow Jones News


TransGlobe Energy (TSX:TGL)
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From Aug 2020 to Aug 2022

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By Joe Hoppe

 

Transglobe Energy Corp. said Wednesday that second-quarter production rose on quarter due to well-optimization activities in Egypt, full oil production from the lower Bahariya reservoir, Egypt, and a return to production in Canada.

The oil exploration-and-production company said second-quarter average oil production to date rose to 13,137 barrels of oil equivalent a day from 12,221 in the first quarter.

Signing of the consolidated production sharing concession--a contract that agrees to split some of the oil drilled between the company and the country--with the Egyptian government is progressing through to parliamentary approval, which is expected in the second half of the year, it said.

"With our planned operations, rising oil prices and expected ratification, we look to be in for an exciting second half of 2021," Chief Executive Randy Neely said.

 

Write to Joe Hoppe at joseph.hoppe@wsj.com

 

(END) Dow Jones Newswires

June 23, 2021 04:03 ET (08:03 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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