Update: On track and moving forward
TransAtlantic Petroleum (TAT) has reported record revenues of US$41.1m for Q214, which together with previously released sales volumes of 5.0mboe/d for the quarter, begin to frame an encouraging trend that the company is well on track to meet targeted exit rate of 6.3mboe/d by year-end 2014. Based on the year-to-date successes of the 33-well drilling programme, we are modelling production rates of over 8.0mboe/d by YE15, which we expect to be driven by North American horizontal drilling, completions and waterflood technology, and the successful export of these to TAT’s Turkish basins.
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