TIRANA, Sept. 30 – Texas-based TransAtlantic Petroleum which already operates in oil and natural gas projects in Turkey and Bulgaria has announced it has acquired Canada-based Stream Oil and Gas operations in Albania for a reported US$ 41.2 million. The company expects to close the acquisition in November 2014.
“My meetings with Stream’s operations manager and geologists and a review of their maps and random well files served to confirm my conviction that these properties are a great fit for us and have significant potential,” said TransAtlantic’s CEO Malone Mitchell after visiting Stream’s operations in Albania, near the cities of Fier, Vlor롡nd Ballsh.
Stream Oil & Gas Ltd. is a Canadian-based emerging oil and gas production, development and exploration company focused on the re-activation and re-development of three oilfields and a gas/ condensate field in Albania.
Meanwhile, TransAtlantic Petroleum Ltd. is an international oil and natural gas company engaged in the acquisition, exploration, development and production of oil and natural gas. The company holds interests in developed and undeveloped properties in Turkey and Bulgaria.
U.S.-based TransAtlantic acquires Stream Oil operations
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