The Conversation (0)
TransGlobe Energy Corporation (TSX:TGL,NASDAQ:TGA) reported curtailed production in the Republic of Yemen and revised production Guidance for 2011.
TransGlobe Energy Corporation (TSX:TGL,NASDAQ:TGA) reported curtailed production in the Republic of Yemen and revised production Guidance for 2011.
As quoted in the press release:
The oil export pipeline from Marib to the Ras Eisa port on the Red Sea is currently shut down. Production from TransGlobe’s An Nagyah field on Block S-1 is shut-in until repairs to the export pipeline can be completed. The pipeline has been the target of a number of attacks since production resumed in mid-July (ending a 4 month shut-in period) and was typically repaired within 24 to 48 hours, which did not impact production. The most recent attack on the pipeline has not been repaired due to local tribal groups preventing access to the pipeline. It is difficult to predict when production will resume. TransGlobe’s working interest share of production was approximately 2,250 Bopd prior to being shut-in on October 8th.
Click here to read the TransGlobe Energy Corporation (TSX:TGL,NASDAQ:TGA) press release
