awsomeTransGlobe expects record-setting production in Q2
2009-06-11 13:08 ET - News Release
Ms. Anne-Marie Buchmuller reports
TRANSGLOBE ENERGY CORPORATION PROVIDES MID-QUARTER UPDATE FOR Q2 2009 AND NOTICE OF CAPP SYMPOSIUM PARTICIPATION
TransGlobe Energy Corp. has released a mid-quarter production and operations update for the second quarter of 2009 and plans attendance at the Canadian Association of Petroleum Producers' Investment Symposium. All dollar amounts in this news release are in U.S. dollars, unless otherwise stated.
Production update
Total sales for May averaged 9,725 barrels of oil per day made up of 6,453 barrels of oil per day from West Gharib fields in Egypt and 3,272 barrels of oil per day from TransGlobe's Yemen interests. The company achieved a new single-day production record on May 13 with total production estimated at 10,363 barrels of oil per day. Production for June will be reduced due to unscheduled pump changes in West Gharib and facility downtime in Yemen. The company's second quarter 2009 average production is expected to set a new record of approximately 9,500 barrels of oil per day. This represents a 30-per-cent year-over-year increase in the company's Egypt and Yemen production (7,283 barrels of oil per day in the second quarter of 2008) and an 8-per-cent increase over the first quarter of 2009.