Trillion Energy International Inc. (CSE: TCF) (OTC
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Posted On: 10/18/2024 4:47:56 PM
Trillion Energy International Inc. (CSE: TCF) (OTCQB: TRLEF) Takes ‘Giant Step’ Forward with Initiation of VS Program
- Velocity strings (“VS”) play crucial role in addressing a common challenge in oil and natural-gas production: the buildup of liquids in the wellbore.
- Trillion Energy recently initiated a VS program to enhance productivity of existing wells at SASB natural gas field.
- This move underscores the company’s commitment to maximizing shareholder value through operational excellence and innovative solutions.
In the world of oil and natural gas production, maximizing the efficiency of well operations is critical to maintaining profitable and sustainable operations. One of the most effective ways to optimize well performance, particularly in aging or declining wells, is using velocity strings (“VS”). Trillion Energy International (CSE: TCF) (OTCQB: TRLEF), a company focused on oil and natural gas production for Europe and Türkiye, recently announced that it is ramping up SASB gas field operations with the installation of velocity strings (https://nnw.fm/bHh0O ).
Velocity strings are small-diameter tubing installed inside the production casing of a well, and they serve to enhance gas and liquid flow rates, thereby maintaining or even boosting the well’s production over time. Velocity strings play a crucial role in addressing one of the common challenges in oil and natural-gas production: the buildup of liquids in the wellbore. As wells age, the pressure required to lift liquids (such as water or condensate) to the surface begins to drop. This reduction in pressure can cause liquids to accumulate in the wellbore, reducing the flow of gas and leading to lower production rates or even shutting down the well entirely.
Velocity strings work by increasing the velocity of the gas flowing through the well. With reduced tubing diameter, the gas flows at a higher speed, which creates enough energy to carry liquids out of the wellbore to the surface, preventing liquid loading and helping maintain production. This simple yet effective intervention can significantly extend the productive life of a well, allowing operators to extract more hydrocarbons from the reservoir without the need for expensive secondary recovery methods.
A recent example of the importance of velocity strings can be seen in the operations of Trillion Energy, which recently initiated a velocity strings program to enhance the productivity of its existing wells at its SASB natural gas field, located offshore of Türkiye. The SASB field is a significant asset for Trillion Energy, and the company is focused on maximizing gas recovery and extending the productive life of its wells.
In September, Trillion Energy reached an agreement with its partner at SASB regarding the technical aspects of the program and was given the responsibility to conduct the VS program. As a result, the company signed a service agreement with a snubbing provider to install the velocity strings. Mobilization of the snubbing unit has begun. The proposed operation is to increase or stabilize production rates in producing wells by reducing water loading.
As reported in the company’s recent announcement, the installation of velocity strings will help mitigate the natural decline in gas production that often occurs as a well matures. By increasing the gas velocity, Trillion Energy expects to improve flow rates and extend the overall production timeline of the wells in the SASB field.
“Initially it was assumed that the VS could only be run in using a drilling rig,” said Trillion Energy CEO Arthur Halleran. “However, we have now convinced all that a snubbing unit can accomplish this activity. This has been a giant step forward. This strategic move underscores our commitment to maximizing shareholder value through operational excellence and innovative solutions in the dynamic European energy market.”
By leveraging this proven technology, Trillion Energy is well positioned to continue delivering strong production results from its offshore gas assets. Furthermore, as the global demand for natural gas continues to rise, particularly in Europe, these enhancements to well performance could play a crucial role in meeting future energy needs while maximizing returns on the company’s existing infrastructure.
Trillion Energy International is focused on oil and natural gas production for Europe and Türkiye with natural gas assets in Türkiye. The company holds a 49% interest in the SASB natural gas field, a Black Sea natural gas development, and a 19.6% interest (except three wells with 9.8%) in the Cendere oil field. Trillion Energy is also pursuing oil exploration in southeast Türkiye and beyond.
For more information, visit www.TrillionEnergy.com.
OTE TO INVESTORS: The latest news and updates relating to TRLEF are available in the company’s newsroom at https://nnw.fm/TRLEF
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
- Velocity strings (“VS”) play crucial role in addressing a common challenge in oil and natural-gas production: the buildup of liquids in the wellbore.
- Trillion Energy recently initiated a VS program to enhance productivity of existing wells at SASB natural gas field.
- This move underscores the company’s commitment to maximizing shareholder value through operational excellence and innovative solutions.
In the world of oil and natural gas production, maximizing the efficiency of well operations is critical to maintaining profitable and sustainable operations. One of the most effective ways to optimize well performance, particularly in aging or declining wells, is using velocity strings (“VS”). Trillion Energy International (CSE: TCF) (OTCQB: TRLEF), a company focused on oil and natural gas production for Europe and Türkiye, recently announced that it is ramping up SASB gas field operations with the installation of velocity strings (https://nnw.fm/bHh0O ).
Velocity strings are small-diameter tubing installed inside the production casing of a well, and they serve to enhance gas and liquid flow rates, thereby maintaining or even boosting the well’s production over time. Velocity strings play a crucial role in addressing one of the common challenges in oil and natural-gas production: the buildup of liquids in the wellbore. As wells age, the pressure required to lift liquids (such as water or condensate) to the surface begins to drop. This reduction in pressure can cause liquids to accumulate in the wellbore, reducing the flow of gas and leading to lower production rates or even shutting down the well entirely.
Velocity strings work by increasing the velocity of the gas flowing through the well. With reduced tubing diameter, the gas flows at a higher speed, which creates enough energy to carry liquids out of the wellbore to the surface, preventing liquid loading and helping maintain production. This simple yet effective intervention can significantly extend the productive life of a well, allowing operators to extract more hydrocarbons from the reservoir without the need for expensive secondary recovery methods.
A recent example of the importance of velocity strings can be seen in the operations of Trillion Energy, which recently initiated a velocity strings program to enhance the productivity of its existing wells at its SASB natural gas field, located offshore of Türkiye. The SASB field is a significant asset for Trillion Energy, and the company is focused on maximizing gas recovery and extending the productive life of its wells.
In September, Trillion Energy reached an agreement with its partner at SASB regarding the technical aspects of the program and was given the responsibility to conduct the VS program. As a result, the company signed a service agreement with a snubbing provider to install the velocity strings. Mobilization of the snubbing unit has begun. The proposed operation is to increase or stabilize production rates in producing wells by reducing water loading.
As reported in the company’s recent announcement, the installation of velocity strings will help mitigate the natural decline in gas production that often occurs as a well matures. By increasing the gas velocity, Trillion Energy expects to improve flow rates and extend the overall production timeline of the wells in the SASB field.
“Initially it was assumed that the VS could only be run in using a drilling rig,” said Trillion Energy CEO Arthur Halleran. “However, we have now convinced all that a snubbing unit can accomplish this activity. This has been a giant step forward. This strategic move underscores our commitment to maximizing shareholder value through operational excellence and innovative solutions in the dynamic European energy market.”
By leveraging this proven technology, Trillion Energy is well positioned to continue delivering strong production results from its offshore gas assets. Furthermore, as the global demand for natural gas continues to rise, particularly in Europe, these enhancements to well performance could play a crucial role in meeting future energy needs while maximizing returns on the company’s existing infrastructure.
Trillion Energy International is focused on oil and natural gas production for Europe and Türkiye with natural gas assets in Türkiye. The company holds a 49% interest in the SASB natural gas field, a Black Sea natural gas development, and a 19.6% interest (except three wells with 9.8%) in the Cendere oil field. Trillion Energy is also pursuing oil exploration in southeast Türkiye and beyond.
For more information, visit www.TrillionEnergy.com.
OTE TO INVESTORS: The latest news and updates relating to TRLEF are available in the company’s newsroom at https://nnw.fm/TRLEF
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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