6th Aug 2021 16:00
TransGlobe Energy Corp - Calgary, Canada-based oil exploration and production company - For the first half of 2021, swings to pretax profit of USD7.0 million from a loss of USD61.6 million the same period a year before.
This was due to an impairment charge of USD73.5 million incurred in the first half of 2020. Total revenue however grew 6.5% year-on-year to USD68.7 million from USD64.5 million, driven by higher sales of petroleum and natural gas sales.
Average production however declined 14% year-on-year to 12,652 barrels of oil equivalent per day from 14,648 barrels a year prior. However, the average realised sales price rises 65% to USD53.54 from USD32.51.
Current stock price: 110.10 pence, down 4.3% on Friday
Year-to-date change: up 47%
By Dayo Laniyan; [email protected]
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