TransGlobe Energy Corporation (TGA): history, ownership, mission, how it works & makes money

A Brief History of TransGlobe Energy Corporation (TGA)

Company Overview

TransGlobe Energy Corporation (TGA) is an independent oil and gas exploration and production company, founded in 1968. The company is headquartered in Calgary, Alberta, Canada, and focuses primarily on operations in the Arab Republic of Egypt and the United States.

Key Milestones

• 1968: TransGlobe Oil & Gas Ltd. was established in Canada.
• 1995: The company acquired its first assets in Egypt.
• 2005: TransGlobe Energy Corporation was formed following a reorganization into a public company.
• 2011: The company achieved a significant milestone by reaching an average production of over 8,000 barrels of oil per day (bopd).
• 2020: TransGlobe reported an average production of approximately 13,000 bopd.

Financial Performance

As of the end of Q3 2023, TransGlobe Energy’s financial results showed:

Operations and Assets

TransGlobe Energy operates primarily in two main regions: Egypt and the United States. As of 2023, the company held working interests in:

Market Performance

TransGlobe Energy's stock performance has been influenced by various market conditions. As of October 2023, the company’s stock price was approximately $3.45 per share, with a market capitalization of around $230 million.

Future Outlook

TransGlobe Energy is poised for growth with plans to enhance production capabilities. The company aims to increase its average production to between 13,500 and 14,000 bopd in 2024, contingent on market conditions and capital availability.

Recent Developments

In Q2 2023, TransGlobe announced a significant oil discovery in Egypt, expected to increase reserves by approximately 2.5 million barrels of oil equivalent (boe). The company reported a total debt of $45 million, alongside a working capital surplus of $15 million.

A Who Owns TransGlobe Energy Corporation (TGA)

Ownership Structure

As of the latest available data, TransGlobe Energy Corporation (TGA) has a diverse ownership structure with institutional and retail investors. The following table illustrates the major shareholders as of October 2023:

Market Capitalization

TransGlobe Energy's market capitalization is an important indicator of its ownership dynamics. As of October 2023, the market capitalization is approximately $200 million.

Share Performance

Recent stock performance metrics are essential for understanding ownership value. The following table outlines TGA's stock performance over the last fiscal year:

Dividend Information

TransGlobe Energy has a history of returning value to its shareholders through dividends. The dividend per share for 2023 is $0.10 with a dividend yield of 3.57%.

Insider Ownership

Insider ownership plays a crucial role in governance and management alignment. The following table breaks down the insider ownership percentages:

Geographic Distribution of Shareholders

Geographic distribution of shareholders provides insight into the international presence of ownership. The following table summarizes the geographic distribution:

Recent Changes in Ownership

Recent changes in ownership can influence stock performance and investor sentiment. The following table shows notable recent transactions:

Conclusion of Ownership Analysis

Ownership of TransGlobe Energy Corporation reflects a mix of institutional and individual investors, with significant engagement from key stakeholders. The evolving market dynamics continue to shape the ownership landscape.

TransGlobe Energy Corporation (TGA) Mission Statement

Corporate Mission

TransGlobe Energy Corporation is committed to delivering sustainable growth through prudent management of its oil and gas resources. The company aims to maximize value for its shareholders while ensuring operational excellence and responsible environmental stewardship.

Core Objectives

• Maximizing shareholder value through disciplined growth strategies.
• Ensuring the safety and health of employees and surrounding communities.
• Minimizing environmental impact through sustainable practices.
• Maintaining operational efficiency and cost control.

Strategic Vision

TransGlobe's strategic vision focuses on expanding its production capabilities, optimizing resource utilization, and enhancing its portfolio through targeted acquisitions and explorations.

Financial Performance Metrics

As of the latest quarterly report, the company reported the following financial metrics:

Operational Highlights

TransGlobe Energy Corporation's operational highlights demonstrate its commitment to efficiency and production optimization:

Environmental Commitment

The company undertakes initiatives to reduce its carbon footprint. Key measures include:

• Investing in renewable energy technologies.
• Implementing rigorous waste management and recycling practices.
• Conducting regular environmental impact assessments.

Community Engagement

TransGlobe Energy Corporation prioritizes community involvement and support:

• Contributing over 1 million CAD annually to local development projects.
• Engaging with stakeholders through regular meetings and consultations.
• Supporting educational initiatives in areas where the company operates.

Conclusion

The mission statement of TransGlobe Energy Corporation reflects its dedication to responsible energy production, stakeholder collaboration, and sustainable practices in the oil and gas industry.

How TransGlobe Energy Corporation (TGA) Works

Overview of TransGlobe Energy Corporation

TransGlobe Energy Corporation (TGA) is an international oil and gas exploration and production company with operations primarily in Egypt and Canada. As of 2023, TransGlobe operates onshore oil properties in the Eastern Desert of Egypt, with a significant focus on development and production.

Business Model

The company employs a value-driven approach focusing on long-term growth in production and reserves through strategic acquisitions and efficient operations. TransGlobe's operational strategy emphasizes cost control, production optimization, and maintaining a robust financial position.

Financial Performance

For the fiscal year ending December 2022, TransGlobe Energy reported:

Production and Reserves

As of the end of 2022, TransGlobe's production metrics included:

• Average daily production: 11,500 BOE/d
• Proven reserves: 11.4 million BOE
• Probable reserves: 5.7 million BOE

Operational Areas

TransGlobe operates primarily in:

• Egypt: Eastern Desert and Gulf of Suez regions.
• Canada: Exploration and production activities in Alberta.

Strategic Initiatives

The company has initiated several programs aimed at enhancing operational efficiency:

• Implementation of advanced drilling techniques.
• Enhancing recovery factors in existing fields.
• Focusing on environmental sustainability and regulatory compliance.

Stock Performance

As of October 2023, TransGlobe's stock performance metrics include:

Investment Strategy

TransGlobe's investment strategy focuses on:

• Exploration in underdeveloped fields.
• Acquiring producing assets that offer potential for growth.
• Reinvesting cash flow into high-return projects.

Risk Management

The company actively manages risks associated with oil price volatility, operational challenges, and geopolitical factors by employing:

• Hedging strategies to stabilize cash flows.
• Diverse operational portfolio across regions.
• Regular assessments of market conditions.

Community Engagement

TransGlobe Energy emphasizes community engagement in its operational areas by:

• Supporting local economic development.
• Investing in health and education initiatives.
• Ensuring environmental stewardship and compliance.

How TransGlobe Energy Corporation (TGA) Makes Money

Exploration and Production

TransGlobe Energy Corporation primarily generates revenue through the exploration and production of crude oil and natural gas. The company operates in various regions, notably in Egypt and Canada, where it holds significant producing assets.

Revenue Statistics

In 2022, TransGlobe reported revenues of approximately $173.5 million, reflecting the fluctuations in oil prices and production volumes. The average realized prices for crude oil ranged between $70.00 and $80.00 per barrel during this period.

Production Volumes

As of the end of 2022, TransGlobe's average daily production was recorded at 14,166 barrels of oil equivalent per day (Boe/d). The company's production split included:

• Crude Oil: 12,965 bbl/d
• Natural Gas: 7.3 MMcf/d

Cost Management

Cost management plays a critical role in the financial health of TransGlobe Energy. The company's operating expenses have been effectively managed, with a reported operating cost of around $29.25 per barrel of oil equivalent in 2022.

Market Trends

Market demand for oil and gas heavily influences TransGlobe’s profitability. In 2022, the Brent crude oil price averaged around $92.00 per barrel, significantly impacting revenue generation.

Asset Sales

TransGlobe also engages in asset sales as a means of generating revenue. In recent years, it has strategically sold non-core assets, which netted approximately $40 million in 2021.

Financial Health

The company reported a net income of $30.1 million in 2022, driven by improved production efficiency and favorable oil prices. Cash flow from operations amounted to $68.4 million during the same period.

Future Projections

Looking ahead, TransGlobe aims to expand its production capabilities. Analysts predict an increase in production to around 15,500 Boe/d by 2024 due to the planned development projects. Financial forecasts suggest potential revenue growth to exceed $200 million in the coming years, contingent on oil price stability.