- TransGlobe Energy (NASDAQ:TGA -4.5%) says it has written down the value of its assets in Yemen to zero due to their "deteriorating risk profile," which will result in a Q4 impairment charge of $51.5M.
- TGA says it is relinquishing two blocks in Yemen due to natural decline and security issues.
- TGA also says 2014 year-end proved plus probable reserves totaled 12M barrels, down 26% Y/Y due to reclassifications, negative technical revisions and production.