Exploration & Production | Quarterly / Earnings Reports | First Quarter (1Q) Update
TransGlobe's Production Slightly Down, Exploration Continues
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TransGlobe Energy Corporation has announced its financial and operating results for the three months ended March 31, 2014. All dollar values are expressed in United States dollars unless otherwise stated.
First quarter production averaged 18,067 Bopd (17,932 Bopd sales); First quarter funds flow of $32.5 million; First quarter earnings of $16.7 million (includes a $3.5 million unrealized loss on convertible debentures); Spent $14.3 million on exploration and development during the quarter; Drilled nine wells in the quarter resulting in seven oil wells, one dry hole, and one well that was suspended for a future sidetrack; Ended the quarter with $107.6 million in cash and cash equivalents; positive working capital of $258.9 million or $171.1 million net of debt (including convertible…- ✓ Full news archive — U.S., Canada & international coverage
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