Trillion Energy Reports Record Production and Revenue Growth
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Trillion Energy's August Production Highlights
Trillion Energy International Inc. (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) has reported significant production achievements for August, emphasizing its robust performance and strategic advancements in the oil and gas sectors.
Record Revenue and Operational Efficiency
In August, Trillion Energy achieved impressive gas production from its SASB asset, totaling approximately 133.13 MMcf. This translated to a gross revenue of around US$1,456,400, resulting in Trillion's share of US$713,640 at a realized natural gas price of approximately US$10.94 per Mcf. Additionally, revenue from the Cendere oil field amounted to US$342,700, leading to a striking total gross production revenue of US$1,056,340.
Contributions from Key Gas Fields
The predominant gas revenue from SASB originated from the Guluc-2 and South Akcakoca-2 wells, which accounted for 95% of the production. The remaining 5% came from the West Akcakoca-1 well, which is still stabilizing. Overall, SASB averaged a production rate of 4.6 MMcf per day in August. Furthermore, the wellhead pressure at Akcakoca-3 has notably risen to 583 psi, a strong improvement from the initial pressure of 100 psi, initiating preparations for a flow test.
Prospects for Growth in the European Market
The results from August underscore Trillion Energy's expanding influence in the European energy landscape. With the SASB gas field playing a crucial role in driving revenue, the company is keen on adopting production optimization measures. A critical focus is the potential installation of velocity strings, which could significantly enhance gas output based on historical performances of legacy wells, achieving an average of 4.2 Bcf per well with 2 3/8" tubing.
Upgrading Production Techniques
Trillion is on the brink of enhancing its production capabilities by switching from larger 4 ½" tubing to 2 3/8" velocity strings. This change is anticipated to uplift gas flow rates substantially. Although changing the production tubing typically requires halting gas production, the feasibility of installing the velocity strings without killing the wells—a difficult decision given the current production levels—is being explored.
CEO Insights on Future Revenue Potential
CEO Arthur Halleran expressed his optimism: “The gross revenue of US$1.46 Million from August reflects our future potential to elevate monthly revenue as we expand beyond two gas wells. The proposed installation of 2 3/8" production tubing across all six wells is expected to greatly enhance gas production at SASB. Our past performances with legacy wells showcase the formidable capacity we anticipate for our current wells.”
About Trillion Energy
Trillion Energy is dedicated to oil and natural gas production, particularly in Europe and Türkiye. It holds a 49% stake in the SASB natural gas field, a significant development in the Black Sea, alongside a 19.6% interest in the Cendere oil field. The company is also involved in three oil exploration blocks in southeastern Türkiye.
Contact Information
Arthur Halleran, Chief Executive Officer
Brian Park, Vice President of Finance
Phone: 1-778-819-1585
Email: info@trillionenergy.com
Website: www.trillionenergy.com
Frequently Asked Questions
What were Trillion Energy's production results for August?
Trillion Energy reported a total gross production revenue of US$1,056,340 for August, driven by substantial gas and oil production.
How is Trillion Energy positioning itself in the European market?
The company is enhancing its market position by optimizing production strategies and leveraging its asset base in the Black Sea region.
What is the significance of the velocity string installation?
The installation of velocity strings is expected to significantly boost gas flow rates from the company's wells, based on historical data from similar setups.
What is the current production capacity from SASB?
SASB has demonstrated an average production capacity of 4.6 MMcf/d, with key contributions from the Guluc-2 and South Akcakoca-2 wells.
Who can be contacted for more information about Trillion Energy?
For more details, reach out to Arthur Halleran, the CEO, or Brian Park, the VP of Finance, via the provided contact information.
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