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TransAtlantic's Turkish Activity Ups Production; Updates Hedges
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TransAtlantic Petroleum Ltd. provided an operational update on its current production and drilling program.
Production UpdateTransAtlantic's current average 7-day net production rate is approximately 6,220 BOEPD, comprised of approximately 5,360 BOPD and approximately 5.2 MMCFPD of natural gas. Daily net oil equivalent production increased approximately 10% (net oil production increased 20%) from the end of the second quarter of 2015, primarily due to re-work operations in Southeast Turkey, which commenced in September 2015. Natural gas production was lower in the last week of September 2015, compared with the third quarter average of 6.4 MMCFPD, mainly due to a national holiday in Turkey.
In the third quarter of 2015, TransAtlantic had average net production of approximately 5,340…
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