Trillion Energy (CSE: TCF) continues to execute upon it’s multi-well drill program. The firm this morning indicated that the second well drilled under the program has now entered production.
Akcakoca-3, which last week reportedly completed flow tests at a rate of 7.0 MMcf/d, has entered into production at a rate of 3.3 MMcf/d. Production from the well is occurring with a 20/64″ choke, with gas coming from the upper 7 metres of gas sands that were perforated, with 27 metres set to be perforated at a later date. Production is expected to scale up over time.
The second well entering production however is not resulting in any slowdown for Trillion, whom is now focused on drilling the next well in the program. Plans for the program have changed slightly, with the West Akcakoca-1 well to be the next well to be drilled, which will be drilled to a depth of 1,000 metres over an estimated ten days. Immediately thereafter, the drill rig will shift to the Guluc-2 well, which will also be drilled to a depth of 1,000 metres.
The two wells are to be drilled from the northern side of the Akcakoca platform, and will be completed in sequence to save time and cost, since specialized equipment is needed to be moved to and from the rig from the shore base. Guluc-2 will then be completed to total depth, perforated, tested, and enter production, after which the same process will be completed on West Akcakoca-1.
“We are very pleased South Akcakoca-2 and Akcakoca-3 are now producing gas sales revenue at $30+/mcf, which will be reinvested back into the continuing drilling program. Guluc-2 is a known gas pool previously discovered by a vertical well but never put on production,” commented CEO Arthur Halleran.
Trillion Energy last traded at $0.495 on the CSE.
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