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$159.7m
Last closeUS$4.26
High / Low (52 weeks)US$12.5 / US$4.2
Stock market listingUS
Forecast net debt (US$m)115.5
Forecast gearing ratio (%)34
TeamResources - Oil & Gas
SectorOil & Gas

Price performance

Relative *(20.2)(46.6)(47.3)

* % Relative to local index

Other companies in sector Show

ADX Energy Afren
Aminex Andes Energia
Athabasca Resources AusTex Oil
AWE Azonto Petroleum
BNK Petroleum Bowleven
Bridge Energy Canadian Overseas Petroleum Limited
Canoel International Energy Cap Energy
Carbon Energy CBM Asia Development
Central Petroleum Challenger Energy
Coastal Energy Core Laboratories
Cue Energy DEO Petroleum
Dragon Oil Egdon Resources
Energy XXI Exillon Energy
Exoma Energy Falkland Oil & Gas
Faroe Petroleum Fastnet Oil & Gas
Forum Energy Gasol
Genel Energy Genie Energy
Great Eastern Energy Corporation Green Dragon Gas
Greka Drilling Gulf Keystone Petroleum
Gulfsands Petroleum Hawkley Oil & Gas
High Peak Royalties Hydrodec Group
IPB Petroleum Ithaca Energy
JKX Oil & Gas Karoon Gas
Kea Petroleum Kina Petroleum
Kreuz Holdings Lansdowne Oil & Gas
Leed Petroleum Leni Gas & Oil
Liquefied Natural Gas Limited Lochard Energy
Madagascar Oil MEC Resources
Mediterranean Oil & Gas MEO Australia
Nautical Petroleum New Standard Energy
New Zealand Oil & Gas Nido Petroleum
Nighthawk Energy North Sea Energy
Northern Petroleum Norwest Energy
Otto Energy Pacific Rubiales
Parex Resources Petrel Energy
Petromanas Energy Petrominerales
Po Valley Energy Premier Oil
President Energy Pura Vida Energy
Quadrise Fuels International Ramba Energy
Range Resources Regal Petroleum
Rockhopper Exploration SacOil Holdings
Salamander Energy Sefton Resources
ShaMaran Petroleum Simba Energy
SOCO International Sound Oil
Stratic Energy Tangiers Petroleum
Tethys Petroleum Touchstone Exploration
Tower Resources TransGlobe Energy
Valiant Petroleum Victoria Oil & Gas
WestSide Corporation Xcite Energy

Investment summary

TransAtlantic has released a good set of Q314 financial and operational results, realising an oil production high of 3.7mb/d and with a significant quarter-on-quarter increase in net income to US$8.3m. Results were driven by solid operations in south-east Turkey, as well as a lack of one-off provisions and abandonment charges. In our view, current oil prices could potentially bring Turkey and Bulgarian gas assets back into focus in 2015, while the approved acquisition of Stream Oil and Gas adds Albanian production and cash flow to the mix.

Last updated on 22/12/2014

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 2.4
2013A 127.3 44.1 0.2 (2.5) N/A 2.2
2014E 143.9 76.5 25.9 40.4 10.5 1.7
2015E 268.3 127.9 57.2 73.4 5.8 1.3

Last updated on 15/12/2014

Latest video

Executive Interview - TransAtlantic Petroleum

Industry outlook

TransAtlantic is pioneering North American drilling and fracking technology in Turkey, Albania, and Bulgaria, by applying unconventional methods to new 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 and Albania's oil and gas basins.

Last updated on 22/12/2014

Key management

Malone Mitchell , CEO
Wil Saqueton , CFO

Company address

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