TGA - Transglobe Energy Q2 production jumps 7.5% Q/Q

Mlenny/E+ via Getty Images Transglobe Energy (TGA) reports Q2 oil production to date has improved to 13,137 boe/from 12,221 boe/day in Q1, raising its YTD average output to 12,658 boe/day. Transglobe attributes the increase to well optimization activities in Egypt, full oil production from the lower Bahariya reservoir in Egypt, and a return to production in Canada. The company says the consolidated production sharing concession with Egypt is progressing through to parliamentary approval, expected in this year's H2. Transglobe's cash flow from operations should more than double this year due to the new Egypt contract and the oil price rally, Long Player writes in a bullish analysis posted on Seeking Alpha.

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Transglobe Energy Q2 production jumps 7.5% Q/Q