After stating yesterday that its fourth well would enter production in a “matter of days,” Trillion Energy (CSE: TCF) has seemingly delivered on that promise in a hurry, revealing this morning that its Guluc-2 well has now been perforated and is being placed into production.
The well, which was previously identified to have intersected 73 metres of natural gas pay across 14 separate intervals, has seen 5.5 metres of the lower natural gas sands perforated and tested. Flow rates from the well are said to have peaked at an impressive 16.35 MMcf/day, while shut-in pressure came in at 2,000 psi.
READ: Trillion Energy Hits 73 Metres Of Potential Gas Pay In Guluc 2 Well
67 metres of gas pay remains to be perforated, which is expected to provide the company a long term production horizon. The well is now entering long term production after being perforated, with initial production estimated to be about 6 MMcf/d.
“The Guluc-2 well marks a significant success and will be an excellent producer for years to come. It is the fourth successful gas well in our program, which has now been significantly de-risked from both a geological and engineering standpoint. Guluc-2 is the longest reach well to date -over 3 kilometers horizontal distance,” commented CEO Arthur Halleran on the well.
The well itself represents the thickest stacked pay and highest flow test rate encountered to date in the ongoing multi-well development program. The well is said to have targeted a structure that had no previously attributed reserves, making it a significant discovery for Trillion.
Further drilling is now slated to occur at the East Ayazli Tripod, where the company is to focus on accessing current 2P reserves of 4.2 Bcf. “The Rig is now mobilizing to drill the Bayhanli gas pool, a proven reserve never previously produced,” continued Halleran. The fifth well to be drilled under the program will be the Bayhanli-2 well, with the Uranus drill rig now in the process of rigging down and mobilizing to the new target location.
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.
