Transglobe Energy 2Q Production Rose on Quarter
June 23 2021 - 4:10AM
Dow Jones News
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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