TransGlobe cuts risk by building up Canadian operations

TransGlobe Energy Corp., known for operations in Egypt, is returning to Canada, snapping up west-central Alberta oil assets for $80-million in a bid to reduce political and economic risk.This should come as some comfort to Alberta Premier Rachel Notley, whose New Democratic Party government has frequently taken flak from right-wing quarters of the domestic oil patch. The government has been accused of driving away investment over policies such as the coming climate tax and the re-examination of royalties.

Calgary-based TransGlobe had conducted a search for assets in oil-producing countries throughout the developed world before settling on a deal in …
Go to Source