Caracal, TransGlobe agree merger


Issue 274 - 01 Apr 2014 | 1 minute read

Canadian companies Caracal Energy and TransGlobe Energy Corporation have agreed an all-share merger bringing together their operations in Chad and Egypt. The merged company will operate under the Caracal name, led by Caracal chief executive Gary Guidry and a combination of the two companies’ executive teams. TransGlobe has a 50-100% working interest in eight concession blocks in Egypt, as well as interests in four production-sharing agreements in Yemen, while Caracal has three production-sharing contracts in Chad, and started production in October from the Badila field.

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