Trillion Energy Initiates Velocity String Program
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) ha avviato un programma di Velocity String (VS) nel suo campo di gas SASB. L'azienda ha raggiunto un accordo con il suo partner ed è stata assegnata come operatore per il programma il 30 settembre 2024. È stato firmato un contratto di servizio con 'Snub Co' per l'installazione del VS, e la mobilitazione dell'unità di snubbing dalla Romania è iniziata.
L'operazione ha l'obiettivo di aumentare o stabilizzare i tassi di produzione nei pozzi produttivi riducendo il carico d'acqua. Attualmente, Akcakoca-3 e South Akcakoca-2 stanno registrando una media di 2,55 MMcf/d e 2,3 MMcf/d rispettivamente negli ultimi 30 giorni. I pozzi Guluc-2 e West Akcakoca-1 hanno prodotto in modo intermittente a causa del carico d'acqua, con Guluc-2 che ha una media di 1,7 MMcf/d negli ultimi 2 mesi.
Per quanto riguarda l'aggiornamento sui blocchi petroliferi, Trillion ha continuato a lavorare per finalizzare un accordo di farm-in per i blocchi di esplorazione petrolifera M46 e M47 nel sud-est della Turchia. Tuttavia, a causa del focus dell'azienda sul programma di lavoro SASB, i pozzi di esplorazione previsti per il 2024 non sono stati perforati. Il proprietario della licenza del blocco ha assicurato una terza parte per perforare due pozzi, riducendo l'interesse potenziale di Trillion.
Trillion Energy International Inc. (CSE: TCF) (OTCQB: TRLEF) ha iniciado un programa de Velocity String (VS) en su campo de gas SASB. La empresa llegó a un acuerdo con su socio y fue asignada como operador para el programa el 30 de septiembre de 2024. Se ha firmado un acuerdo de servicio con 'Snub Co' para la instalación del VS, y la movilización de la unidad de snubbing desde Rumania ha comenzado.
La operación tiene como objetivo aumentar o estabilizar las tasas de producción en los pozos en producción al reducir la carga de agua. Actualmente, Akcakoca-3 y South Akcakoca-2 están promediando 2.55 MMcf/d y 2.3 MMcf/d respectivamente en los últimos 30 días. Los pozos Guluc-2 y West Akcakoca-1 han estado produciendo de manera intermitente debido a la carga de agua, con Guluc-2 promediando 1.7 MMcf/d durante los últimos 2 meses.
En cuanto a la actualización de los Bloques de Petróleo, Trillion ha continuado trabajando para finalizar un acuerdo de farm-in para los bloques de exploración de petróleo M46 y M47 en el sureste de Turquía. Sin embargo, debido al enfoque de la empresa en el programa de trabajo SASB, los pozos de exploración planificados para 2024 no han sido perforados. El propietario de la licencia del bloque ha asegurado un tercero para perforar dos pozos, reduciendo el interés potencial de Trillion.
트릴리언 에너지 인터내셔널 Inc.(CSE: TCF) (OTCQB: TRLEF)는 SASB 가스 필드에서 속도 문자열(VS) 프로그램을 시작했습니다. 회사는 파트너와 협의를 통해 2024년 9월 30일 프로그램에 대한 운영권을 부여받았습니다. 'Snub Co'와의 VS 설치를 위한 서비스 계약이 체결되었으며, 루마니아에서 스너빙 유닛의 이동이 시작되었습니다.
이번 작업의 목표는 물 하중을 줄여 생산 중인 유정에서 생산 속도를 증가시키거나 안정시키는 것입니다. 현재 Akcakoca-3과 South Akcakoca-2는 지난 30일 평균 각각 2.55 MMcf/d 및 2.3 MMcf/d를 기록하고 있습니다. Guluc-2와 West Akcakoca-1 유정은 물 하중으로 인해 간헐적으로 생산되고 있으며, Guluc-2는 지난 2개월 동안 평균 1.7 MMcf/d를 생산하고 있습니다.
석유 블록 업데이트와 관련하여, 트릴리언은 터키 남동부의 M46 및 M47 석유 탐사 블록에 대한 농업 계약을 마무리하기 위해 계속 노력해왔습니다. 그러나 SASB 작업 프로그램에 집중하고 있어 2024년에 계획된 탐사 유정은 천공되지 않았습니다. 블록 라이선스 소유자는 두 개의 유정을 천공하기 위해 제3자를 확보했으며, 이로 인해 트릴리언의 잠재적 관심이 줄어들었습니다.
Trillion Energy International Inc. (CSE: TCF) (OTCQB: TRLEF) a lancé un programme de Velocity String (VS) sur son champ de gaz SASB. L'entreprise a conclu un accord avec son partenaire et a été désignée comme opérateur pour le programme le 30 septembre 2024. Un contrat de service avec 'Snub Co' pour l'installation du VS a été signé, et la mobilisation de l'unité de snubbing depuis la Roumanie a commencé.
L'opération vise à augmenter ou stabiliser les taux de production dans les puits en production en réduisant la charge en eau. Actuellement, Akcakoca-3 et South Akcakoca-2 affichent une moyenne de 2,55 MMcf/d et 2,3 MMcf/d respectivement au cours des 30 derniers jours. Les puits Guluc-2 et West Akcakoca-1 ont produit de manière intermittente en raison de la charge en eau, Guluc-2 ayant une moyenne de 1,7 MMcf/d au cours des 2 derniers mois.
En ce qui concerne la mise à jour des blocs pétroliers, Trillion a continué à travailler pour finaliser un farm-in pour les blocs d'exploration pétrolière M46 et M47 dans le sud-est de la Turquie. Cependant, en raison de l'accent mis par l'entreprise sur le programme de travaux SASB, les puits d'exploration prévus pour 2024 n'ont pas été forés. Le propriétaire de la licence du bloc a sécurisé un tiers pour forer deux puits, réduisant ainsi l'intérêt potentiel de Trillion.
Trillion Energy International Inc. (CSE: TCF) (OTCQB: TRLEF) hat ein Velocity String (VS) Programm in seinem SASB Gasfeld gestartet. Das Unternehmen hat eine Vereinbarung mit seinem Partner getroffen und erhielt am 30. September 2024 die Betriebsführung für das Programm. Ein Dienstleistungsvertrag mit 'Snub Co' für die Installation des VS wurde unterzeichnet, und die Mobilisierung der Snubbing-Einheit aus Rumänien hat begonnen.
Das Ziel des Betriebs ist es, die Produktionsraten in produzierenden Bohrlöchern zu erhöhen oder zu stabilisieren, indem die Wasserbelastung verringert wird. Derzeit liegen die Durchschnittswerte von Akcakoca-3 und South Akcakoca-2 in den letzten 30 Tagen bei 2,55 MMcf/d bzw. 2,3 MMcf/d. Die Bohrlöcher Guluc-2 und West Akcakoca-1 haben aufgrund von Wasserbelastung intermittierend produziert, wobei Guluc-2 in den letzten 2 Monaten einen Durchschnitt von 1,7 MMcf/d verzeichnet hat.
Bezüglich des Updates zu den Ölblöcken hat Trillion weiterhin daran gearbeitet, einen Farm-In für die Ölexplorationsblöcke M46 und M47 im Südosten der Türkei abzuschließen. Aufgrund des Fokus des Unternehmens auf das SASB-Arbeitsprogramm wurden jedoch die für 2024 geplanten Explorationsbohrungen nicht durchgeführt. Der Lizenzinhaber des Blocks hat einen Dritten beauftragt, zwei Bohrungen durchzuführen, was das potenzielle Interesse von Trillion verringert.
- Initiation of Velocity String program to increase or stabilize production rates
- Assignment of operatorship for the VS program
- Signing of service agreement with 'Snub Co' for VS installation
- Current production rates: Akcakoca-3 (2.55 MMcf/d) and South Akcakoca-2 (2.3 MMcf/d)
- Guluc-2 well averaging 1.7 MMcf/d over the last 2 months despite intermittent production
- Guluc-2 and West Akcakoca-1 wells producing intermittently due to water loading
- Planned exploration wells for Oil Blocks in 2024 not drilled due to focus on SASB workover program
- Reduction in potential interest in Oil Blocks as third party secured to drill two wells
Vancouver, B.C., Oct. 04, 2024 (GLOBE NEWSWIRE) -- Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to announce it is gearing up SASB gas field operations with the installation of Velocity Strings (VS) at this time.
On September 30th, 2024, after the Company reached an agreement with its partner at SASB on the technical aspects of the program, it was assigned operatorship for the conduct of this program.
The Company then was able to sign a service agreement with a snubbing provider “Snub Co” to install the velocity strings. Mobilization of the snubbing unit, which is currently in Romania, has begun. The propose of the operation is to increase or stabilize production rates in producing wells, by reducing water loading.
Currently the Akcakoca-3 and South Akcakoca-2 are averaging 2.55 MMcf/d and 2.3 MMcf/over the past 30 days. The other two long reach directionally drilled wells Guluc-2 and West Akcakoca-1 were only produced intermittently due to water loading. Even still, Guluc-2 averaged 1.7 MMcf/d over the last 2 months.
Arthur Halleran CEO of Trillion stated:
“Initially it was assumed that the VS could only be run in using a drilling rig, however, we have now convinced all a snubbing unit can accomplish this activity. This has been a giant step forward. This strategic move underscores our commitment to maximizing shareholder value through operational excellence and innovative solutions in the dynamic European energy market.”
Oil block update -The Company has continued to work to finalize a farm-in to earn a working and revenue interest in M46 and M47 oil exploration blocks within the Cudi-Gabar petroleum province, Southeastern Turkiye (the “Oil Blocks”). The Company initiated seismic work in 2023 on the Oil Blocks planned four exploration wells for 2024, however, such wells have not been drilled as the Company focused on its workover program at SASB. As a result, the block license owner secured a third party to drill two wells on the Oil Blocks and gave up a
About the Company
Trillion Energy International Inc is focused on oil and natural gas production for Europe and Türkiye with natural gas assets in Türkiye. The Company is
Contact
Arthur Halleran, Chief Executive Officer
Brian Park, Vice President of Finance
1-778-819-1585
E-mail: info@trillionenergy.com;
Website: www.trillionenergy.com
Cautionary Statement Regarding Forward-Looking Statements
This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to the Company's ability to obtain regulatory approval of the executive officer and director appointments. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. Trillion does not undertake to update any forward-looking information except in accordance with applicable securities laws.
These statements are no guarantee of future performance and are subject to certain risks, uncertainties, delay, change of strategy, and assumptions that are difficult to predict and which may change over time. Accordingly, actual results and strategies could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors. These factors include unforeseen securities regulatory challenges, COVID, oil and gas price fluctuations, operational and geological risks, changes in capital raising strategies, the ability of the Company to raise necessary funds for development; the outcome of commercial negotiations; changes in technical or operating conditions; the cost of extracting gas and oil may increase and be too costly so that it is uneconomic and not profitable to do so and other factors discussed from time to time in the Company’s filings on www.sedar.com, including the most recently filed Annual Report on Form 20-F and subsequent filings. For a full summary of our oil and gas reserves information for Turkey, please refer to our Forms F-1,2,3 51-101 filed on www.sedar.com, and or request a copy of our reserves report effective December 31, 2022 and updated January 31 2023.
FAQ
What is the purpose of Trillion Energy's Velocity String program for TRLEF stock?
How much gas is Trillion Energy's Akcakoca-3 well currently producing for TRLEF?
What challenges is Trillion Energy (TRLEF) facing with its Guluc-2 and West Akcakoca-1 wells?
How has Trillion Energy's focus on SASB affected its Oil Blocks exploration plans for TRLEF?
