Exploration & Production | Capital Markets | Capital Expenditure
TransAtlantic Talks 2013 Thrace Basin Shale Plans
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TransAtlantic Petroleum Ltd. has detailed the Company's 2013 capital budget and production guidance, as approved by its Board of Directors, and has also provided an operations update.
2013 Capital Expenditure BudgetTransAtlantic's Board of Directors has approved a capital expenditure budget for the twelve months ending December 31, 2013 of $131 million net to the Company. The budgeted spending includes $101 million of drilling and completion expense, $19 million of seismic and $11 million of infrastructure and other.
Approximately 32% of the Company's spending is expected to be directed to the Thrace Basin, 40% toward activity on the Molla licenses, 19% at Selmo field, and 9% on exploration and other drilling.
Actual expenditures are likely to deviate from this initial plan according to…
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