Friday, July 10, 2015

Transoceanic Petroleum gives operational overhaul

Transoceanic Petroleum gives operational overhaul

Friday, Jul 10, 2015

Transoceanic Petroleum Ltd. (NYSE-MKT:TAT) (TSX:TNP) (the "Organization" or "Transoceanic") today gave an operational overhaul on its ebb and flow boring project.

Operational Overhaul

Transoceanic's ebb and flow net generation rate is give or take 5,700 BOEPD, embodied roughly 4,500 BOPD of oil and more or less 7.2 MMCFPD of common gas. In the second quarter of 2015, Transoceanic had normal net generation of pretty nearly 5,900 BOEPD, a 6% decline from net creation in the first quarter of 2015 and a 18% expansion over net creation in the second quarter of 2014. Net creation for the second quarter of 2015 was involved more or less 4,560 BOPD of oil and 8.0 MMCFPD of common gas. In the second quarter of 2015, the Organization continued penetrating on the Delvina-34 well in Albania, started boring the Bahar-9 and bored the South Goksu-1 wells in Southeast Turkey, and initiated workover action in the Albanian oil fields.

Southeastern Turkey - Şelmo Field

Transoceanic's second quarter net creation in the Şelmo field arrived at the midpoint of more or less 2,660 BOPD. The Organization proceeds with its waterflood program in the Şelmo field and is currently extending the waterflood base toward the western piece of the field. Generation in the Şelmo field was marginally lower than anticipated because of expanded downtime identified with support amid the quarter.

Southeastern Turkey - Molla Penetrating System

Transoceanic's second quarter net creation in the Molla zone found the middle value of give or take 1,130 BOPD. Transoceanic is presently penetrating the Bahar-9 well (100% working hobby). The well will be bored to an aggregate profundity of 10,600-feet. At present, the Organization is setting 7" middle of the road packaging at a profundity of more or less 8,500 feet in the Mardin, which grew more porosity than balancing wells. The well is focusing on the Bedinan, Dadas, and Hazro zones.

In the second quarter of 2015, Transoceanic penetrated the South Goksu-1 well (half meeting expectations intrigue), a 5,900 foot exploratory all around bored two miles south of the Goksu field. The Organization has arrangements to finish the well, which focuses on the Mardin development, in the second from last quarter of 2015.

In the second quarter of 2015 the Organization endeavored to finish the Pinar-1 well, a 11,700-foot vertical investigation very much penetrated to test a different 3D seismic structure west of the Bahar field. Log investigation shows roughly 100 feet of potential pay zone in the Bedinan development. Be that as it may, because of unrecoverable stuck packaging issues experienced amid culmination operations, the well will be diverted around 9,700 feet and the last 2,000 feet of the well re-bored.

Transoceanic hopes to proceed with improvement of the Bahar field and investigation in the Molla Territory with the spudding of 3 extra Bahar field wells in the second a large portion of 2015.

Northwestern Turkey - Thrace Bowl Improvement

Transoceanic's first quarter net creation from the Thrace Bowl found the middle value of pretty nearly 8.0 MMCFPD. The Organization is right now concluding anticipates its Thrace boring system for the second a large portion of 2015.


Transoceanic's ebb and flow generation in Albania is more or less 1,340 BOPD horrible and 860 BOPD net. The Organization is as of now boring the Delvina-34H1, a Cretaceous, strayed well, at a profundity of 6,533 feet with a proposed target profundity of 13,000 feet. Late in the second quarter of 2015, Transoceanic started a workover program in its Albanian oil fields with the establishment of 13 new downhole pumps and is encountering positive generation results to date.

Support Overhaul

On June 10, 2015 Transoceanic put extra zero premium collars with a story cost of $66.50 for a segment of its Turkey oil generation through 2016. On July 8, 2015 the general fence portfolio was esteemed at give or take $34 million. The Organization proceeds to nearly screen the product value environment and will modify its position as circumstances emerge.

Second Quarter 2015 Income Call

Transoceanic will give extra operational and budgetary results on its second quarter 2015 profit call, which it hopes to host in ahead of schedule August 2015.

About Transoceanic Petroleum Ltd.

Transoceanic Petroleum Ltd. is a global oil and characteristic gas organization occupied with the procurement, investigation, improvement and generation of oil and regular gas. The Organization holds intrigues in created and undeveloped properties in Turkey, Albania and Bulgaria.

For more data, please visit : www.transatlanticpetroleum

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good article
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