Trillion Energy’s Strategic Move to Boost Gas Production
Vancouver, B.C. -- Trillion Energy International Inc. (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is making significant strides in its operations with the introduction of the Velocity Strings (VS) program in the SASB gas field. This initiative marks the company's commitment to enhancing its production capabilities and ensuring a more efficient operational workflow.
Details on the Velocity String Installation
As of late September, after solidifying a technical agreement with its partner, Trillion was assigned the operatorship for implementing the Velocity String program. This program is particularly designed to stabilize and potentially increase production rates in currently producing wells while also addressing issues related to water loading.
The company entered into a service agreement with Snub Co, a specialist in snubbing services, to facilitate the installation of these velocity strings. The mobilization of the snubbing unit, currently stationed in Romania, has commenced. With this advancement, Trillion Energy aims to improve well performance at key sites such as Akcakoca-3 and South Akcakoca-2. These wells are averaging impressive production levels at 2.55 MMcf/d and 2.3 MMcf/d over the past month.
Navigating Production Challenges
Despite the ongoing success, Trillion has faced challenges with other wells, such as Guluc-2 and West Akcakoca-1, which have produced intermittently due to excessive water load. Notably, Guluc-2 managed to maintain a production average of 1.7 MMcf/d in the last two months despite these issues. The ongoing efforts reflect Trillion's dedication to overcoming operational hurdles and optimizing production across its portfolio.
Insights from Leadership
Arthur Halleran, CEO of Trillion Energy, expressed enthusiasm about the program’s potential, stating that initial assumptions regarding the operational processes have evolved. He noted, “It was initially thought that the Velocity Strings could solely be deployed using a drilling rig; however, our collaboration has shown that a snubbing unit can effectively accomplish this task. This progress highlights our dedication to enhancing shareholder value through operational excellence in the competitive European energy market.”
Update on Oil Exploration Blocks
Beyond gas field enhancements, Trillion is actively working on securing interests in the M46 and M47 oil exploration blocks located in the Cudi-Gabar region of Turkey. Although earlier plans included drilling four exploratory wells in 2024, the focus on gas production at SASB has delayed those efforts. Consequently, a third party has been secured to drill two wells within these oil blocks, and Trillion has relinquished a 20% interest in this arrangement.
The strategic priority remains intact, with Trillion committed to securing an interest in these oil blocks, pending financing and the finalization of participation terms. This dual focus on gas production and oil exploration illustrates the company’s balanced approach to resource development and market engagement.
About Trillion Energy
Trillion Energy International Inc. is dedicated to the production of oil and natural gas across Europe and Turkey, with significant assets in the SASB natural gas field and a notable interest in the Cendere oil field. The company continues to explore growth opportunities while leveraging its existing portfolio for sustained development.
Contact Information
For inquiries, please reach out to:
Arthur Halleran, Chief Executive Officer
Brian Park, Vice President of Finance
1-778-819-1585
Email: info@trillionenergy.com
Website: www.trillionenergy.com
Frequently Asked Questions
What is the purpose of the Velocity String program?
The Velocity String program aims to stabilize and potentially enhance production rates in gas wells while reducing water load on the production flow.
Where are Trillion’s operational sites located?
Trillion Energy operates primarily in the SASB gas field and is also exploring oil blocks in Southeastern Turkey.
Who is managing the Velocity String program?
The program is being managed by Trillion Energy, which was assigned operatorship following a technical agreement with its partner in the SASB project.
How has Trillion addressed challenges in production?
Trillion Energy has employed innovative solutions such as the use of a snubbing unit for the installation of Velocity Strings to tackle operational issues and improve production rates.
What are Trillion Energy's future exploration plans?
Trillion is committed to finalizing interests in oil exploration blocks M46 and M47 while simultaneously enhancing its gas production capabilities in existing fields.
