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TransGlobe Reports Decreased Q3 Production; Acquired 9 Cardium Locations
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TransGlobe Energy announced its Q3 results.
Highlights include: Reported average production of ~14.9 mboe/d (~12.2 mbo/d in Egypt and ~2.6 mboe/d in Canada) Drilled and completed 3 horizontal Cardium wells Acquired 1,600 new Cardium acres with 8 to 10 drilling locations TransGlobe reported Q3 production of ~14.9 mboe/d with ~12.2 mbo/d production from its Egypt assets and ~2.6 mboe/d from Canada. Production was down in Q2 due to well servicing. The initial production guidance for 2017 was 15.5 to 18.5 mboe/d, with Egypt's guidance at 13 to 15.5 mbo/d and Canada expected to be 2.5 to 3 mboe/d. Instead, during Q3, the company failed to hit these production numbers.Additionally, the company completed three Cardium wells. These wells were drilled in July/August and completed in…
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