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TransGlobe Energy Corporation was incorporated on August 6, 1968. The Company changed its name to TransGlobe Energy Corporation on April 2, 1996. TransGlobe, through its wholly owned subsidiaries, is primarily engaged in the exploration for, and the development and production of, oil and gas in the Arab Republic of Egypt and in the Republic of Yemen. TransGlobe is an independent, Canadian-based oil and gas company whose main business activities include exploration, development and production of crude oil, natural gas liquids and natural gas. The Company has exploration and production operations in the Republic of Yemen and in the Arab Republic of Egypt. TransGlobe Energy had a production project in Canada, bu sold it in Q2 2008 for 56.7 Million CDN.
Period Volume Type Pricing Put-Call
Crude Oil September 1, 2007- Financial
August 31, 2008 15,000 Bbls/month Collar $60.00-$78.55
January 1, 2008- Financial
December 31, 2008 12,000 Bbls/month Collar $60.00-$81.20
January 1, 2009- Financial
December 31, 2009 12,000 Bbls/month Collar $60.00-$82.10
September 1, 2008- Financial
January 31, 2009 11,000 Bbls/month Collar $60.00-$88.80
February 1, 2009- Financial
December 31, 2009 6,000 Bbls/month Collar $60.00-$86.10
January 1, 2010- Financial
August 31, 2010 12,000 Bbls/month Collar $60.00-$84.25
TransGlobe hedged about 26% of 2008 production at $82 a barrel and 12% of 2009 production at the same price level.