TransAtlantic Petroleum (TAT)

Business description

TransAtlantic Petroleum is engaged in the acquisition, exploration, and production of oil and gas assets. It uses North American horizontal drilling and fracking technology to enhance production. Its main interests lie in Turkey and Bulgaria.

Share price chart

Share chart

Stock data

Market cap.US$409.3m
Last closeUS$10.920
High / Low (52 weeks)US$12.5 / US$7.0
Stock market listingUS
Forecast net debt (US$m)118
Forecast gearing ratio (%)47
TeamResources - Oil & Gas
SectorOil & Gas

Price performance

Relative *(7.4)27.1(5.2)

* % Relative to local index

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Investment summary

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.

Last updated on 11/08/2014

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2012A 134.1 38.7 4.6 (5.2) N/A 6.9
2013A 127.3 44.1 0.2 (2.5) N/A 5.8
2014E 186.1 78.8 28.0 54.1 20.2 8.7
2015E 241.0 117.1 51.2 83.6 13.1 4.1

Last updated on 11/08/2014

Latest video

Executive Interview - TransAtlantic Petroleum

Industry outlook

TransAtlantic is pioneering North American drilling and fracking technology in Turkey and applying unconventional methods to new shale plays, as well as to existing conventional assets. We believe that markets have yet to fully price in the potential production boost and upside from the successful application of North American horizontal drilling and fracking techniques to Turkey’s oil and gas basins.

Last updated on 05/08/2014

Key management

Malone Mitchell , CEO
Wil Saqueton , CFO

Company address

16803 Dallas Parkway
P.O. Box 246 ADDISON
TX 75001-0246
United States
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