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Company Overview
Trillion Energy International Inc. (TRLEF) is a dynamic oil and natural gas firm that has established a reputation for technical innovation and operational excellence in the energy sector. Specializing in natural gas production and advanced workover techniques, the company employs industry-specific methodologies such as velocity string tubing and snubbing units to mitigate water loading and optimize well performance. Operating primarily in key regions including the Black Sea assets and Southeastern Turkey, Trillion Energy International positions itself as a sophisticated player in competitive energy markets.
Operational Excellence and Production Techniques
The company’s operations focus on maintaining steady and enhanced production rates through comprehensive well workovers and technology-driven upgrades. Its strategic perforation program and innovative use of velocity string tubing not only reduce reliance on expensive rig mobilization but also provide a cost-effective and efficient solution for water handling issues. By transitioning to snubbing units for tubing installation, Trillion Energy International demonstrates a deep understanding of reservoir behavior and a firm commitment to evolving its operational model to suit current market and technical conditions.
Technological Innovation and Expertise
Trillion Energy International employs advanced production technologies to address the challenges inherent in oil and gas extraction. The integration of artificial lift techniques, including the installation of production tubing designed to minimize water production and lower wellhead pressure, showcases the company's commitment to technological innovation. With a focus on sustaining long-term production rates, the company leverages nitrogen injections and gas lift compressor systems as part of its broader strategy for reservoir management and enhanced recovery.
Market Position and Strategic Initiatives
Within a competitive landscape characterized by fluctuating market conditions, Trillion Energy International strategically positions itself by focusing on operational flexibility and technical efficiency. Its workover programs in the SASB gas field and related assets have not only stabilized production challenges but also underscored its capability in managing mature fields with innovative solutions. The company’s approach is reflected in its consistent efforts to address water loading issues—a common challenge in natural gas production—in order to optimize resource recovery and operational uptime.
Operational Footprint and Industry Impact
Operating in regions that are critical to both domestic supply and international market dynamics, Trillion Energy International contributes significantly to the energy supply chain. Its operations are structured to optimize well performance through detailed technical assessments and timely interventions, ensuring that production remains robust despite inherent geological and environmental challenges. The company’s ability to manage complex operations in the Black Sea region, coupled with its venture into oil exploration blocks, reflects its diverse operational footprint and its integrated approach to energy resource management.
Competitive Differentiation Through Innovation
Trillion Energy International differentiates itself through a strategic focus on cost-effective production enhancements and the adoption of advanced technologies rarely seen in traditional oil and gas operations. The use of a snubbing unit for installing velocity string tubing marks a significant operational pivot, enabling the company to lower production costs and enhance production efficiency. This innovative approach not only addresses the pressing issue of water loading but also positions the company to operate more sustainably in challenging reservoir conditions.
Operational Strategy and Business Model
The business model of Trillion Energy International is anchored in a comprehensive understanding of production optimization. By integrating technical expertise with a robust operational strategy, the company generates revenue principally through the extraction, processing, and sale of natural gas and oil products. Its focus on reducing operational inefficiencies and enhancing production performance allows it to maintain resilience in a competitive and technically demanding market. This commitment to operational excellence is evident in its consistent investment in technological upgrades and the refinement of its workover programs.
Risk Mitigation and Process Optimization
A critical aspect of Trillion Energy International’s operational strategy lies in its proactive risk mitigation measures. Through vigilant monitoring and the application of advanced artificial lift techniques, the company effectively manages the challenges associated with water loading and well depletion. This has allowed for a more stable production environment and has enabled the company to optimize extraction processes without resorting to high-cost, traditional drilling operational methods.
Conclusion
Overall, Trillion Energy International Inc. is recognized for its comprehensive approach to oil and natural gas production, combining state-of-the-art technical methodologies with a well-calibrated operational strategy. Its deep industry expertise, evidenced by the continuous enhancement of production systems and a commitment to addressing key operational challenges, secures its relevance in the energy markets. Investors and industry observers can view the company as a technically adept player that balances operational innovation with cautious execution, ensuring that its operations remain both robust and adaptable in a competitive environment.
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.
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