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Last $5.80 USD
Change Today +0.05 / 0.87%
Volume 46.0K
As of 8:04 PM 05/4/15 All times are local (Market data is delayed by at least 15 minutes).

transatlantic petroleum ltd (TAT) Snapshot

Open
$5.83
Previous Close
$5.75
Day High
$5.98
Day Low
$5.74
52 Week High
07/3/14 - $12.51
52 Week Low
01/29/15 - $4.04
Market Cap
236.6M
Average Volume 10 Days
38.4K
EPS TTM
--
Shares Outstanding
40.8M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for TRANSATLANTIC PETROLEUM LTD (TAT)

transatlantic petroleum ltd (TAT) Related Businessweek News

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transatlantic petroleum ltd (TAT) Details

TransAtlantic Petroleum Ltd. engages in the acquisition, exploration, development, and production of oil and natural gas. As of December 31, 2014, the company had interests in approximately 1.8 million net acres of developed and undeveloped oil and natural gas properties in Turkey, Albania, and Bulgaria. TransAtlantic Petroleum Ltd. was founded in 1985 and is based in Addison, Texas.

719 Employees
Last Reported Date: 03/16/15
Founded in 1985

transatlantic petroleum ltd (TAT) Top Compensated Officers

Chief Financial Officer and Vice President
Total Annual Compensation: $366.7K
Chief Operating Officer
Total Annual Compensation: $136.1K
General Counsel and Corporate Secretary
Total Annual Compensation: $227.4K
Vice President of Geosciences
Total Annual Compensation: $195.5K
Compensation as of Fiscal Year 2014.

transatlantic petroleum ltd (TAT) Key Developments

TransAtlantic Petroleum Ltd. Announces Production Results for the First Quarter of 2015

TransAtlantic Petroleum Ltd. announced production results for the first quarter of 2015 and provided an operational update on its current drilling program. TransAtlantic's current 7-day average net production rate is approximately 6,250 BOEPD, comprised of approximately 4,750 BOPD of oil and approximately 9.0 MMCFPD of natural gas. In the first quarter of 2015, TransAtlantic had average net production of approximately 6,265 BOEPD, a 2.5% increase over net production in the fourth quarter of 2014 and a 30% increase over net production in the first quarter of 2014. Net production for the first quarter of 2015 was comprised of approximately 4,825 BOPD of oil and 8.6 MMCFPD of natural gas. In the first quarter of 2015, the Company drilled and completed the Gurgen-3 well, drilled and logged the Pinar-1 well and completed the Ebyat-2 exploration well. TransAtlantic Albania has installed a new management team and has developed a workover program which is expected to begin in the second quarter of 2015. The Company has undertaken significant cost saving efforts including staff reductions, office relocations, negotiations with suppliers and optimization of well designs. Southeastern Turkey ­ elmo Field TransAtlantic's first quarter net production in the elmo field averaged approximately 2,910 BOPD. The Company continues its secondary recovery program in this field and expects to convert several additional wells to injection as part of its waterflood operations in 2015. Southeastern Turkey ­ elmo Field: TransAtlantic's first quarter net production in the elmo field averaged approximately 2,910 BOPD. The Company continues its secondary recovery program in this field and expects to convert several additional wells to injection as part of its waterflood operations in 2015. Southeastern Turkey ­ Molla Drilling Program: TransAtlantic's first quarter net production in the Molla area averaged approximately 1,322 BOPD. In the second quarter of 2015, TransAtlantic plans to complete the Pinar-1 (100% working interest), an 11,700-foot vertical exploration well drilled to test a separate 3D seismic structure west of the Bahar field. Log analysis indicate approximately 100 feet of potential pay zone in the Bedinan and Hazro formations. Southeastern Turkey ­ Idil Exploration: TransAtlantic has finished completion operations on the Ebyat-2 (50% working interest), a 7,880-foot vertical exploration well on its Idil license. The well tested non-commercial and has been plugged and abandoned. TransAtlantic's 50% joint venture partner, Onshore Petroleum Company AS funded approximately 96% of the total well cost. Northwestern Turkey ­ Thrace Basin Development: TransAtlantic's first quarter net production from the Thrace Basin averaged approximately 8.6 MMCFPD. The Gurgen-3 was drilled and completed in the first quarter, producing at an average gross rate of 1.2 MMCFD in the first 30 days on production from the Osmancik. Albania: TransAtlantic's first quarter net production in Albania averaged approximately 582 BOPD. During the quarter, temporary weather related disruptions and electrical infrastructure failures resulted in a loss of net production from the year-end 2014 rate of approximately 1,000 BOPD. Net production has recovered to a current 7-day average rate of 812 BOPD. Continuing infrastructure repair should restore production to pre-interruption levels. The company expects to commence the initial well work to increase production in the second quarter.

TransAtlantic Petroleum Ltd. Presents at IPAA's OGIS New York, Apr-20-2015 03:40 PM

TransAtlantic Petroleum Ltd. Presents at IPAA's OGIS New York, Apr-20-2015 03:40 PM. Venue: Sheraton New York Times Square Hotel, 811 7th Avenue, New York, New York, United States.

Transatlantic Petroleum Ltd. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Reports Production Results for the Full Year Ended December 31, 2014

TransAtlantic Petroleum Ltd. reported financial and operating results for the fourth quarter and full year ended December 31, 2014. For the quarter, total revenues were $29.9 million compared to $33.9 million for the three months ended December 31, 2013. Net profit from continuing operations was $15.4 million, or $0.39 per basic and diluted share compared to net loss from continuing operations of $14.4 million, or $0.39 per basic and diluted share for the three months ended December 31, 2013. The net profit included $35.0 million of derivative gains, $11.4 million of exploration, abandonment and impairment charges and $0.6 million of foreign exchange losses. Adjusted EBITDAX from continuing operations was $16.2 million, compared to $20.9 million for the three months ended December 31, 2013. The fourth quarter of 2014 EBITDAX included the impact of oil price declines which lowered revenue by approximately $13.0 million versus the third quarter. Operating loss was $12.5 million against operating profit of $8.3 million a year ago. Income from continuing operations before income taxes was $20.3 million against loss from continuing operations before income taxes of $15.8 million a year ago. Revenues were $140.7 million, compared to $130.8 million for the twelve months ended December 31, 2013. The increase in annual Revenue was primarily attributable to a 24% increase in net sales volumes countered with a 12% decrease in average price per BOE. Net profit from continuing operations was $29.1 million, or $0.77 per basic and diluted share compared to a net loss from continuing operations of $13.3 million, or $0.36 per basic and diluted share for the twelve months ended December 31, 2013. The 2014 net profit included a derivative gain of $37.5 million compared to a loss of $2.7 million in 2013, $19.9 million of exploration, abandonment and impairment charges compared to $27.3 million in 2013, and $4.3 million of seismic and other exploration expenses compared to $14.0 million in 2013. Adjusted EBITDAX from continuing operations was $89.6 million compared to $77.0 million for the twelve months ended December 31, 2013 as a result of increased net sales and revenue. Operating profit was $15.8 million against $2.8 million a year ago. Income from continuing operations before income taxes was $42.1 million against $12.1 million a year ago. Net cash provided by operating activities from continuing operations was $78.1 million against $68.8 million a year ago. The company’s 2015 year-to-date net production has been approximately 6,295 BOEPD, comprised of 4,569 barrels of oil per day and 8.7 million cubic feet of natural gas per day. During the first quarter of 2015, the company completed three wells in Turkey and reduced costs. The company’s wellhead production was 1.9 million barrels of oil equivalent in 2014, as compared to 1.6 million barrels of oil equivalent in 2013.

 

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