TransGlobe Sells 451 mbbl Cargo of Egypt Entitlement Crude Oil for Proceeds of $46M

TransGlobe Sells 451 mbbl Cargo of Egypt Entitlement Crude Oil for Proceeds of $46M

TransGlobe announced selling a cargo of 451 million barrels of Egypt entitlement crude oil for proceeds of $46 million

The company drilled and cased four Egypt Eastern Desert development wells in Q2, 2022 to date.

TransGlobe corporate production remains in line with 2022 annual guidance of 12.4-13.4 million barrels of oil equivalent per day (mboe/d). In Egypt, the company’s output, before royalties and taxes, recorded from the beginning of 2022 to date (YTD) an average of 10,189 boe/d.

“The Company’s operations continue to be in line with plan, with both Egypt and Canada generating production within guidance. Canadian production was curtailed for part of April and much of May as a result of planned third-party plant maintenance which was completed on schedule,” Randy Neely, TransGlobe President and CEO commented.

Sarah Samir 2745 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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