Exploration & Production | Top Story | Capital Markets | Capital Expenditure
TransAtlantic Plans Turkey-Focused Ops for 2014; IDs Targets
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TransAtlantic Petroleum Ltd. has detailed its capital expenditure budget for 2014 and outlook for its 2014 production exit rate.
2014 Capital Expenditure BudgetTransAtlantic's Board of Directors has approved the following initial capital expenditure budget for Turkey for the twelve months ending December 31, 2014. The Company expects to establish a budget for Bulgaria, horizontal completions and other activity as geology and well results dictate.
TransAtlantic is focused on areas with known hydrocarbons and expects to target wells more efficiently in 2014 with the use of recently acquired 3D seismic. The Company believes its maintenance capital expenditures to sustain production flat at 5,000 Boed net (2013 year-end guidance) is approximately $37 million. To maintain flat oil production…
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