Transglobe Energy

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Type Public Limited Company
Traded as NASDAQ:TGA
Founded 1968
Headquarters Calgary, Canada
Key People Ross G. Clarkson (President & CEO)
Net Income US $87.7 million (2012)[1]
% change over previous year 8%
Total Assets US $653.4 million (2012)[2]
Employees 114 (2013)[3]
Website www.trans-globe.com

Global Snapshot

Transglobe Energy is an international exploration and production company based in Calgary, Alberta, Canada with oil interests in Egypt and Yemen. In Egypt, TransGlobe has a 50-100% operated and non-operated working interest in five concessions to include West Gharib, East Ghazalat, West Bakr, South Alamein and South Mariut. In Yemen, the Company has 13-25% working interest in Blocks 32, 72, S-1 and 75.[4]

Company Report Highlights

In 2012, the company's production increased to 17,496 barrels per day (bpd) of oil from an average 12,132 bpd in 2011, a growth rate of 44 percent, while year-end proved plus probable (2P) reserves increased 10 percent to 48.7 million barrels, representing a production replacement for the year of 170 percent. The company was also awarded four exploration concessions in the Egyptian General Petroleum Corporation (EGPC)'s bid round in November 2012.[5]

The company's 2012 annual report stated a 2013 guidance for average production of 21,000 to 24,000 bpd, or a 29 percent increase over the 2012 average.[6] However in the first quarter of 2013 the company averaged 17,900 bpd of production.[7] The annual report also indicated that 2013 exploration and development spending is budgeted to be US$129 million excluding acquisitions, a 152 percent increase from 2012, to be funded by funds flowing from operations and cash-on-hand. Meanwhile the company estimated 2013 funds flow from operations at US$161 million, representing an increase of 5 percent from 2012.[8]

Global Reputation

What Transglobe Energy says about its corporate citizenship

The 'Health Safety and Environment' section of the Transglobe website states the company's commitment to "maintaining a healthy and safe working environment for all employees, contractors and visitors" and its support of a "sustainable approach to the environment in all its operations."[9] However neither the company's website nor its 2012 annual report mentions the role of corporate social responsibility in its activities.

What others say about BG Group's corporate citizenship

External Memberships and Rankings

EITI Supporter Status

Transglobe Energy is not a supporting company of the Extractive Industries Transparency Initiative.[10]

UN Global Compact

Transglobe Energy is not a member of the UN Global Compact initiative.[11]

Global Operations by Country

Egypt

Main article: Transglobe Energy Operations in Egypt

References

  1. 2012 Annual Report" Transglobe Energy.
  2. Fourth Quarter & Full Year Results 2011" BG Group plc.
  3. Sustainability Report 2011" BG Group.
  4. "Corporate Profile", Transglobe website, retrieved 11 June 2013.
  5. TransGlobe Energy Corporation Announces Fourth Quarter and Year-End 2012 Financial and Operating Results" Market Wired.
  6. 2012 Annual Report" Transglobe Energy.
  7. TransGlobe Energy Corporation Announces Fourth Quarter and Year-End 2012 Financial and Operating Results" Market Wired.
  8. 2012 Annual Report" Transglobe Energy.
  9. "Helth Safety and Environment", Transglobe website, retrieved 11 June 2013.
  10. "Stakeholders", EITI, retrieved 10 June 2013.
  11. "Overview", UN Global Compact, retrieved 11 June 2013.