TransAtlantic Petroleum Ltd. provided an operational update on its current drilling program.
For the second quarter of 2014, TransAtlantic had average net production of approximately 5,000 BOEPD, an 8% increase over average net sales in the first quarter of 2014 and a 24% increase over average net sales in the second quarter of 2013. Average net production for the second quarter of 2014 was comprised of approximately 3,500 BOPD of oil and approximately 9.0 MMCFPD of natural gas. Net sales for the second quarter of 2014, which the Company plans to report in early August 2014, are expected to be slightly lower than net production. The Company currently has three active rigs in southeastern Turkey. TransAtlantic spudded five wells and completed four new wells in the second quarter of 2014.