TransGlobe Energy Corp - Calgary, Canada-based oil explorer and producer - Says second quarter sales average 12,609 barrels of oil equivalent per day at average realised price of USD95.37 per barrel, up 69% on a year before. Petroleum and natural gas sales for quarter total USD109.4 million, up 29% on a year before. Net earnings soar to USD32.1 million from USD7.7 million. "Production for the quarter was below full year 2022 guidance of 12,400 to 13,400 boe/d and 3% lower than the previous quarter. The decrease was primarily due to planned maintenance at a third-party processing facility in Canada, partially offset by an increase in production in the Eastern desert from the ongoing drilling program. It is expected that annual production will be within full-year 2022 production guidance," it says.
Current stock price: 265.00 pence
12-month change: up sharply from 116p
By Lucy Heming; lucyheming@alliancenews.com
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