- The company reports the successful production and completion of four workovers, along with increased gas production capacity, at its Black Sea asset
- “This early return on our investment is a clear indicator of the field’s robust production potential,” notes the CEO
Trillion Energy International (CSE: TCF) (OTCQB: TRLEF), a company focused on oil and natural gas production for Europe and Türkiye, is marking a significant milestone in its strategic perforation program. The company reports the successful production and completion of four workovers, along with increased gas production capacity, at its Black Sea asset (https://ibn.fm/GEzxE).
“The wells on the Akcakoca Platform have been completed successfully with gas production and well head pressure (‘WHP’) continuing to increase,” stated Trillion Energy CEO Arthur Halleran. “This early return on our investment is a clear indicator of the field’s robust production potential. The results are very positive, giving us good indications that decreasing the production tubing size from 4-1/2 inches to 2-3/8 inches, using velocity strings, should stabilize gas production at the targeted rates.”
In the production update for the SASB gas field, the company noted that the SASB revitalization program was “off to a great start, having realized the complete payback of recent perforation costs in just 35 days of production.” The report noted that, in the first phase of the workover, all remaining gas pay on the Akcakoca platform was perforated, including three long-reach deviated gas wells (Guluc-2, South Akcakoca-2 and West Akcakoca-1) and a complete legacy well, Akcakoca-3.
“The wells started production over a staggered period from July 9 to July 28 and have already produced 140 million cubic feet (‘MMcf’) representing a 35-day payoff of the recent perforation CAPEX,” the report observed. “South Akcakoca-2 has been producing for 36 days, stabilizing at approximately 2.75 MMcf per day. Guluc-2 has produced an average production of 2.0 MMcf/d for over three weeks and now produces at a stable rate of about 1.25 MMcf/d. West Akcakoca-1 has produced an average of 0.60 MMcf/d for over two weeks with some irregularities and has not yet stabilized.”
The company noted that Akcakoca-3 was perforated, and while gas flow did not initially occur, the WHP has steadily increased from 100 psi to 478 psi. The company anticipates that the well will start producing soon. The company also reported that gas production from the Akcakoca Platform has averaged 4.6 MMcf/d since the perforation program ended.
In addition, Trillion announced that its board of directors authorized the granting of stock options under its Stock Option Plan to specified company directors, officers, employees and consultants. The approval is for the purchase of 8,800,000 common company shares at $0.14 per share for a five-year term, set to expire on Aug. 12, 2029.
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% (except three wells with 9.8%) interest in the Cendere oil field. Trillion Energy is also pursuing oil exploration in southeast Türkiye and beyond.
For more information, visit the company’s website at www.TrillionEnergy.com.
