Trillion Energy Places Third Well In Multi-Well Development Program Into Production
Trillion Energy (CSE: TCF) has seen its third well under its multi-well development program enter production. The firm has seen its West Akcakoca-1 natural gas well in the SASB gas field enter production.
The West Akcakoca-1 well was perforated across an area of 7 metres of natural gas pay, within the two lower D sands. Flow testing conducted on the well is said to have demonstrated 5.9 MMcf/day of natural gas production, with the well now to enter long term production.
West Akcakoca-1 was drilled to a depth of 3,839 metres, and was indicated earlier this month to have hit 55 metres of potential natural gas pay. In turn, the well has 48 metres of natural gas pay that has not yet entered production, which will be perforated in the future to ensure a long-term production horizon for the well.
READ: Trillion Energy Hits 55 Metres Of Potential Gas Pay In Fourth Well At SASB
The Uranus drill rig meanwhile has been moved over to the Guluc-2 well, which previously encountered 73 metres of potential gas pay. The well, drilled to 3,910 metres, intersected 14 separate zones of the Akcakoca member. The company will now move to perforate the well and bring it into production in the near term. Trillion has indicated production from the well is “expected in a matter of days.”
“We are very pleased that our gas production is expected to double with two additional wells entering production for April 2023 for a total of four new producing wells from our SASB development program. Since drilling program commenced last year, we have successfully drilled and produced from four out of four targets. Results to date demonstrate the long reach directional technology being used to revitalize the SASB gas field is working well. Now is just the beginning of our planned development; many more wells are to come,” commented CEO Arthur Halleran on Trillion’s success.
READ: Trillion Energy Sees P2 Reserves Increase To 48.6 BCF, NPV10 Climbs To US$432 Million
Trillion Energy last traded at $0.395 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.