09:51 AM EST - TransGlobe Energy Corporation : Announced its 2020 capital budget, 2020 production guidance, and 2019 year-end reserves. All dollar values are expressed in U.S. dollars unless otherwise stated. TransGlobe has set its 2020 capital budget at $37.1 million (before capitalized G&A); Egypt $23.7 million.
Canada $13.4 million. 2020 average production guidance is set at 14.5 to 15.5 Mboepd with a midpoint of 15.0 Mboepd. The Company is taking a cautious approach to guidance with a significant portion of investment scheduled for the second half of the year following 2019 where production increases exceeded expectations; Egypt 11.9 – 12.7 Mbopd; Canada 2.6 – 2.8 Mboepd. TransGlobe Energy Corporation
shares T.TGL are trading up $0.03 at $1.74.
