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Trillion Energy International Inc. (TRLEF) operates as an innovative force in natural gas production, leveraging advanced techniques like velocity string tubing and snubbing technology to optimize well performance. This dedicated news hub provides investors and industry observers with timely updates on operational milestones, financial disclosures, and technical advancements.
Access comprehensive coverage of TRLEF's workover programs in regions including the Black Sea and Southeastern Turkey, along with strategic initiatives addressing production challenges and reservoir management. The page consolidates press releases on earnings reports, asset developments, and technology implementations that drive the company's cost-efficient operations.
Key updates include details on production optimization strategies, artificial lift system deployments, and progress in managing water loading challenges through specialized tubing installations. Stakeholders can track how TRLEF's focus on operational efficiency translates to sustained performance in competitive energy markets.
Bookmark this page for direct access to primary source materials about TRLEF's technical innovations and market positioning. Regularly updated content ensures informed decision-making for those monitoring oil and gas sector developments.
Trillion Energy (TRLEF) has provided an operational update for its SASB offshore gas project in Turkey. The company successfully installed new velocity string tubing in two tripod-based wells (Alapli-2 and Bayhanli-2) in January 2025, following similar installations in four wells on the Akcakoca platform in fall 2024.
The wells responded positively to nitrogen injection operations, demonstrating successful water reduction and improved performance. To enhance long-term production rates, Trillion has implemented several artificial lift techniques:
- Secured a gas lift compressor system for the Akcakoca platform, with testing scheduled for March 24, 2025
- Planning high pressure nitrogen injection post-compressor installation
- Implementing pump solutions including one Progressive Cavity Pump (PCP) and two slim-hole Electric Submersible Pumps (ESPs)
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.
