Trillion Energy Begins Production At First Well Drilled Under Multi-Well Program
Trillion Energy (CSE: TCF) has begun production at its most recently drilled well. The firm this morning revealed that the South Akcakoca-2 well has entered production, with gas sales already underway.
Initial production rates at the well are pegged at 3.0 MMcf/d, which is based on production that occurred from November 4 through to November 10. Production rates are gradually expected to increase over time, although a target rate was not provided by the company.
Trillion previously flow tested the well at 7.0 to 8.2 MMcf/d using a 32/64″ choke, with evaluations from the log identifying 32.9 metres of natural gas pay within the well.
READ: Trillion Energy Begins Drilling Second Well Under Multi-Well Program
“We are pleased to have achieved gas sales from South Akcakoca-2 ahead of schedule in cooperation with our partner, TPAO. During testing, no gas was vented to the atmosphere as the gas flow was contained within the pipeline production system,” commented CEO Arthur Halleran.
The Akcakoca-3 well meanwhile has now been cleared of old wireline after a fishing operation was conducted. A total of 600 kilograms of lost cable was collected from the borehole, with the well now readied for re-perforation which is slated to be conducted this week. The well is said to have remaining gas-bearing zones consisting of 34 metres of pay.
WATCH: Energy Markets “Will Still Be Oil & Gas” — With Arthur Halleran of Trillion Energy
Production from the Akcakoca-3 well is expected to begin shortly after the completion of re-perforation. The well was originally placed into production in 2011, however has only been intermittently producing gas since November 2019 due to a mechanical issue related to production tubing.
“This Akcakoca-3 fishing operation could not be done earlier, as the Uranus rig was required due to the mechanical challenges faced. We look forward to perforating and putting the well back on production this week,” Halleran continued.
Trillion Energy last traded at $0.46 on the CSE.
FULL DISCLOSURE: Trillion Energy is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Trillion Energy on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.