| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
TransGlobe reports annual loss amid industry turmoil
StockMarketWire.com
|
TransGlobe Energy has reported a net loss of $77.4 million (£55.5 million), a result of a 32% drop in petroleum and natural gas sales.
In its 2020 financial results, the company revealed a 16% fall in production driven by low oil prices and natural reserve declines.
The company stated that the global reaction to the spread of COVID-19 and the related economic fallout had created significant volatility, uncertainty, and turmoil in the oil and gas industry.
The company ended the year with positive working capital of $15.3 million, including cash and cash equivalents of $34.5 million;
In 2020, drilling was completed at one development oil well in Egypt as well as one horizontal cardium oil well in Canada.
At 8:15am: (LON:TGL) TransGlobe Energy Corporation share price was 0p at 35p
Story provided by StockMarketWire.com
|
|
|
|
|
|
