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Company Overview
Trillion Energy International Inc. (TRLED) is an oil and gas company with a concentrated focus on maximizing natural gas production through advanced technological solutions and operational refinements. Rooted in the dynamic energy sector, the company specializes in enhancing well performance in challenging environments. Utilizing innovative velocity string tubing techniques and snubbing unit operations, Trillion Energy tackles common well issues such as water loading and high well head pressure, a critical factor for sustained production. With operations concentrated in the SASB gas field in Turkey, the company has established itself as a technically adept operator within the energy production landscape.
Operational Excellence and Technological Innovation
Trillion Energy International Inc. demonstrates deep expertise in oil and gas production by integrating state-of-the-art technological innovations. The company employs velocity string tubing installations to mitigate water loading in wells, enabling continued gas flow despite operational challenges. This technology, paired with the strategic use of snubbing units, ensures that the production process is both cost-effective and efficient. By circumventing the need for expensive jack-up rigs during tubing installations, the company reduces operational expenses while improving well performance. This reflects a robust understanding of both the technological and economic imperatives in the energy sector.
Strategic Production Optimization
The firm’s approach to production optimization is methodical and innovation-driven. Trillion Energy undertakes robust perforation programs across multiple wells, focusing on reducing water inflow to enhance gas recovery rates. With the completion of strategic workover interventions at key sites, the production of gas is stabilized and then improved, ensuring a continued domestic supply in critical markets. Such approaches not only stabilize current production but also pave the way for incremental gains in overall recovery, demonstrating the company’s commitment to operational efficiency.
Market Position and Industrial Significance
Operating within a highly competitive energy landscape, Trillion Energy positions itself by leveraging its technical acumen and efficient operational practices. The company’s initiatives to install new velocity string tubing and deploy nitrogen injections to stimulate production underline its commitment to addressing production challenges head on. Unlike traditional operators who rely heavily on expensive and rigid infrastructure, Trillion Energy’s adaptive approach using innovative methods provides a measurable competitive advantage in mitigating risks associated with water loading and production fluctuations.
Operational Areas and Key Projects
The company is primarily active at the SASB gas field in Turkey, an asset that serves as a significant source of natural gas for domestic supply in the region. Key projects include the perforation and subsequent tubing interventions of multiple wells, which have collectively contributed to enhanced recovery rates. Attention is also directed towards the exploration and development of oil blocks within Southeast Turkey, ensuring that the company maintains a diversified portfolio within the energy sector. These projects illustrate Trillion Energy's capacity to balance operational rigor with strategic exploration, thereby calibrating risks and optimizing returns through a focus on core technical solutions.
Efficiency Improvements and Technical Interventions
Technical interventions at Trillion Energy are tailored to address specific challenges endemic to mature gas fields. The installation of velocity string tubing has been a transformative step in reducing water loading, thereby ensuring sustained well productivity over longer operating periods. The company’s willingness to innovate—for example, convincing industry partners that snubbing units could replace drilling rigs in certain operations—highlights its agility and forward-thinking approach. This adaptive methodology is further supported by the use of nitrogen injections, choke size adjustments, and continuous monitoring of production parameters to fine-tune the output. This comprehensive technical oversight contributes significantly to maintaining lower well head pressures and enhancing overall reservoir performance.
Risk Mitigation and Operational Resilience
In a sector dominated by volatile production conditions, Trillion Energy mitigates risks by emphasizing technological solutions to stabilize operations. The company understands that factors such as water influx in the production wells can drastically affect well performance. To counter this, it has developed protocols involving the installation of new tubing and the use of artificial lift systems, including gas lift compressor systems, that support continuous production even under challenging conditions. Such measures are reflective of the company’s robust risk management practices, which are critical in maintaining production stability and securing operational efficiencies in dynamic market conditions.
Commitment to Excellence in a Competitive Landscape
Trillion Energy International Inc. prides itself on its commitment to operational excellence and technical innovation. Its strategic focus on cost-effective, technologically advanced interventions—combined with an in-depth understanding of subsurface production dynamics—allows the company to maintain production reliability in competitive energy markets. By consistently addressing operational challenges with practical and innovative solutions, the company sustains its relevance and reinforces its expertise in natural gas production. This resolute focus on technological application and process refinement sets a benchmark for operational excellence in the oil and gas industry.
Investor Insights and Frequently Asked Questions
Investors and industry researchers often inquire about the key operational strengths of Trillion Energy International Inc. The company's emphasis on technological advancement, its resilient approach to mitigating water loading issues, and strategic interventions to optimize gas production are areas of notable interest. Beyond just technical enhancements, the company’s operational methodology offers a blueprint for cost-effective production—highlighting a balance between innovation and practical field management in an evolving energy market.
Conclusion
With its strategic focus entrenched in technological innovation and operational refinement, Trillion Energy International Inc. exemplifies a modern approach to oil and gas production. By adopting advanced velocity string installations, leveraging snubbing unit technology, and continuously refining its perforation and production stimulation processes, the company positions itself as a knowledgeable operator within its chosen field. The coherent integration of technological solutions with efficient production management not only minimizes operational risks but also optimizes gas recovery. This comprehensive strategy underscores the company’s value proposition and validates its established presence in the competitive energy sector.
Trillion Energy International (OTCQB: TRLEF) has announced a debt settlement through the issuance of 3,516,493 common shares, valued at $204,436.07. The settlement includes payment to directors, officers, and consultants.
Of the total shares, 1,209,413 common shares were issued specifically for 2024 directors fees and management services from directors and an officer. This insider settlement qualifies as a related-party transaction under MI 61-101, though the company has received exemptions from formal valuation and minority shareholder approval requirements as the fair market value does not exceed 25% of the company's market capitalization.
Trillion Energy has provided an operational update for its SASB offshore gas project in Turkey. The company completed installation of new velocity string tubing in two wells (Alapli-2 and Bayhanli-2) during January 2025, following similar installations in four wells on the Akcakoca platform in fall 2024. While both tripod wells initially showed positive response, stable long-term flow rates haven't been maintained.
The company continues nitrogen injections to stimulate production, though operations faced delays due to winter weather. Plans are underway to stimulate Akcakoca-3 and South Akcakoca-2 wells using nitrogen. Additionally, Trillion has sourced a gas lift compressor system for the Akcakoca platform and plans to install a Progressive Cavity Pump and two slim-hole Electric Submersible Pumps to enhance production in the coming months.
Trillion Energy (OTCQB: TRLEF) has announced the successful installation of 2 3/8" velocity string tubing into the Alapli-2 natural gas well, marking a significant advancement in enhancing long-term gas production at the SASB field. The company's next step involves relocating the snubbing unit via crane barge to the East Ayazli tripod, where they plan to install 2,888 meters of 2 3/8" VS tubing into the Bayhanli-2 well. This phase is expected to be completed within 7 days, weather permitting. Following the completion of Bayhanli-2, the company will initiate nitrogen stimulation activities in both wells to optimize performance and enhance production levels.
Trillion Energy International announces significant management changes, including the retirement of CEO Arthur Halleran effective December 27, 2024. Sean Stofer, appointed as Chairman of the Board and interim CEO, brings over 20 years of energy industry experience and will lead the company while a search for a permanent CEO is conducted.
The company has also appointed Burak Tolga Terzi as Vice President and Deputy General Manager, bringing 17 years of management experience from companies like Valeura Energy and SOCAR AQS. Additionally, Scott Lower CPA has been named President, having previously served in a consulting role.
Trillion plans to establish an advisory board of industry veterans and aims to add two more directors in Q1 2025. The new leadership will focus on increasing production from existing assets and pursuing strategic acquisitions to enhance shareholder value.
Trillion Energy International (CSE: TCF, OTCQB: TRLEF) has announced the continuation of its velocity string tubing program on two tripods following operations completed at the Akcakoca platform in late November. A crane barge has arrived at the SASB gas field to transport the snubbing unit to the Akkaya tripod for operations on the Alapli-2 well, where 2,996 meters of tubing will be installed.
Following this, operations will move to the East Ayazli tripod for the Bayhanli-2 well, requiring 2,888 meters of tubing. The company will implement three sets of burst discs in each well for tubing installation, followed by nitrogen stimulation. The entire operation is expected to take approximately two weeks, weather permitting. Additionally, gas lift compressors are being sized for various wells, with South Akcakoca being the first.
Trillion Energy International has restated its 2023 financial statements due to an accounting correction related to foreign exchange losses on intercompany accounts. The restatement significantly reduced the company's net loss for 2023 from $1,102,194 to $43,842. The adjustment involved reclassifying foreign exchange losses from net loss to other comprehensive loss, as required by IAS 21 accounting standards.
The restatement affected several financial statement items, including accumulated other comprehensive loss (increased to $14,023,189) and accumulated deficit (decreased to $44,880,846), while total stockholders' equity remained unchanged at $22,212,572. The company's CFO noted that these changes had no impact on cash flows or the company's financial position.
Trillion Energy has successfully completed velocity string tubing (VS) installations in four existing wells at the SASB Gas Field, Turkey, including three long-reach wells on the Akcakoca Platform. The operation aims to reduce water loading and increase production and recovery. Guluc-2 and West Akcakoca-1 wells have resumed production with steady improvement after experiencing previous production challenges. Akcakoca-3 continues production with reduced daily water production. The company plans to implement VS on two tripod wells and stimulate all wells to enhance reservoir performance. Operations faced delays due to winter weather and equipment ordering requirements.
Trillion Energy International Inc. (CSE: TCF) (OTCQB: TRLEF) has initiated a Velocity String (VS) program at its SASB gas field. The company reached an agreement with its partner and was assigned operatorship for the program on September 30th, 2024. A service agreement with 'Snub Co' for VS installation has been signed, and mobilization of the snubbing unit from Romania has begun.
The operation aims to increase or stabilize production rates in producing wells by reducing water loading. Currently, Akcakoca-3 and South Akcakoca-2 are averaging 2.55 MMcf/d and 2.3 MMcf/d respectively over the past 30 days. Guluc-2 and West Akcakoca-1 wells have been producing intermittently due to water loading, with Guluc-2 averaging 1.7 MMcf/d over the last 2 months.
Regarding the Oil Blocks update, Trillion has continued to work on finalizing a farm-in for M46 and M47 oil exploration blocks in Southeastern Turkiye. However, due to the company's focus on the SASB workover program, planned exploration wells for 2024 have not been drilled. The block license owner has secured a third party to drill two wells, reducing Trillion's potential interest.
Trillion Energy International Inc. (CSE: TCF) (OTCQB: TRLEF) has announced that the Akcakoca-3 well at the SASB Gas Field is now in production. The well, perforated on July 17, 2024, with eleven meters of gas pay, initially experienced delayed pressure build-up. By September 6, 2024, the well head pressure (WHP) reached 616 psi, allowing production to begin. Initial production rates were 4.28 MMcf/d, increasing to 4.66 MMcf/d with WHP rising to 645 psi.
Additionally, Alapli-2 well was opened for pressure testing, resulting in gas flow to the surface, but is not yet producing significant quantities pending installation of velocity strings. CEO Arthur Halleran expressed satisfaction with Akcakoca-3's performance and Alapli-2's flow tests, confirming that most wells are now producing or have been flow tested.
Trillion Energy International reports robust financial performance for August, driven by substantial gas production from its Black Sea assets. The company achieved a gross production revenue of US$1,456,400 for August, with 100% gas production from SASB totaling 133.13 MMcf. Trillion’s 49% stake in the gas production yielded US$713,640, with a realized natural gas price of US$10.94 per Mcf.
Gas revenue from SASB comprises 95% from Guluc-2 and South Akcakoca-2, and 5% from West Akcakoca-1. Additionally, the gross oil revenue from Cendere fields amounted to US$342,700.
Trillion is exploring the installation of velocity strings to enhance production. CEO Arthur Halleran asserts that similar installations in legacy wells achieved a production average of 4.2 Bcf per well. The company aims to replicate this success by upgrading the current production tubing.
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