TransGlobe increases production from Egypt to 12.8k bpd

Canadian oil and gas producer TransGlobe said it produced 12.8k bpd from Egypt in 4Q2017. It is currently finalizing its 2018 work plan and budget that will be announced in January, according to its 4Q2017 operational update. TransGlobe announced it lifted and sold 510k bbl of crude in Egypt in late November for estimated net proceeds of approximately USD 24.5 mn (inclusive of realized hedging loss and marketing costs).