Trillion Energy's August Production Highlights
Trillion Energy International Inc. (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) has announced impressive production results for August, showcasing its strong performance and strategic progress in the oil and gas industry.
Record Revenue and Operational Efficiency
In August, Trillion Energy achieved remarkable gas production from its SASB asset, totaling around 133.13 MMcf. This resulted in gross revenue of approximately US$1,456,400, with Trillion's share being US$713,640 at a realized natural gas price of about US$10.94 per Mcf. Additionally, revenue from the Cendere oil field reached US$342,700, culminating in an impressive total gross production revenue of US$1,056,340.
Contributions from Key Gas Fields
The majority of gas revenue from SASB came from the Guluc-2 and South Akcakoca-2 wells, which together accounted for 95% of the production. The remaining 5% was contributed by the West Akcakoca-1 well, which is still in the process of stabilizing. Overall, SASB maintained an average production rate of 4.6 MMcf per day throughout August. Moreover, the wellhead pressure at Akcakoca-3 has significantly increased to 583 psi, a notable rise from the initial pressure of 100 psi, prompting preparations for a flow test.
Prospects for Growth in the European Market
The results from August highlight Trillion Energy's growing presence in the European energy sector. With the SASB gas field playing a pivotal role in revenue generation, the company is eager to implement production optimization strategies. A key focus is the potential installation of velocity strings, which could greatly enhance gas output based on historical performance of legacy wells, achieving an average of 4.2 Bcf per well using 2 3/8" tubing.
Upgrading Production Techniques
Trillion is on the verge of improving its production capabilities by transitioning from larger 4 ½" tubing to 2 3/8" velocity strings. This change is expected to significantly increase gas flow rates. Although switching the production tubing typically necessitates halting gas production, the company is exploring the possibility of installing the velocity strings without shutting down the wells—a challenging decision given the current production levels.
CEO Insights on Future Revenue Potential
CEO Arthur Halleran shared his optimism: “The gross revenue of US$1.46 Million from August reflects our future potential to boost monthly revenue as we expand beyond two gas wells. The proposed installation of 2 3/8" production tubing across all six wells is anticipated to greatly enhance gas production at SASB. Our past performances with legacy wells demonstrate the significant capacity we expect from our current wells.”
About Trillion Energy
Trillion Energy is focused on oil and natural gas production, particularly in Europe and Türkiye. The company holds a 49% interest in the SASB natural gas field, a major development in the Black Sea, as well as a 19.6% stake in the Cendere oil field. Additionally, Trillion is 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.
