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$344.1m
Last closeUS$9.18
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 *(15.2)(17.9)(1.8)

* % Relative to local index

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Investment summary

TransAtlantic production applies North American oil and gas technology to Turkish and Bulgarian oil and gas basins. Recent deals that add producing Albanian assets are seen in a good light. Having successfully tested both horizontal drilling and fracking methods on Turkish assets in FY13, we expect the current drilling programme to continue its success, potentially increasing Turkish production from c 5.4mboe/d to 6.3mboe/d by YE14, and over 8.0mboe/d by YE15.

Last updated on 30/09/2014

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 5.8
2013A 127.3 44.1 0.2 (2.5) N/A 4.9
2014E 186.1 78.8 28.0 54.1 17.0 7.3
2015E 241.0 117.1 51.2 83.6 11.0 3.5

Last updated on 24/09/2014

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 30/09/2014

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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