TransGlobe Energy Corporation Operations Update
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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
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1 The Company achieved the netbacks above on sold barrels of oil equivalent for the year ended December 31, 2020 and December 31, 2019 (these figures do not include TransGlobe's Egypt entitlement crude oil held as inventory at December 31, 2020). 2 Royalties and taxes are settled at the time of production. Fluctuations in royalty and tax costs per bbl are due to timing differences between the production and sale of the Company's entitlement crude oil. Netback per barrel in Egypt decreased by 46% in 2020 compared to 2019. The decrease was due to a 35% lower realized oil price, 57% higher selli...
Norway: ConocoPhillips makes oil discovery north of the Heidrun field in the Norwegian Sea - 6507/5-10 S 04 Jan 2021 PL 891, is in the process of completing the drilling of wildcat well 6507/5-10 S. The well was drilled about 23 kms north of the Heidrun field in the Norwegian Sea and 220 kms west of Brønnøysund. The objective of the well was to prove petroleum in reservoir rocks from the Early Jurassic Age (Åre Formation) and Triassic Age ('Grey Beds'). Well 6507/5-10 S encountered a total oil column of 270 metres in the Åre Formation and 'Grey Beds', a total of 90 metres of which are sa...