On
To address the water loading issue, the Company enlisted the expertise of the third-party engineering firm GLJ last November, 2023. The ensuing comprehensive report highlighting actionable items for the execution of artificial lift and was delivered in
Thus, Trillion’s issued production guidance remains steadfast at 7,547 mcf/d before royalties (15.4 MMCF/d 100% Gross interest to lease) for the initial six wells for the 2024 year, with the program execution occurring over the course of the next few months, starting with the four Akcakoca platform wells in Q1 and then the two tripod wells in early Q2.
Moreover, the Company anticipates fitting two or three additional legacy wells with pumps by Q2 for a total of eight + producing wells. Two of the added wells were initially part of the sidetrack program, however, to save cost, are now slated as recompletions instead of new sidetrack drilling. Production from these wells is in addition to the six wells and is not included in the above production estimates.
During the initial drilling program, the initial short term flow test rates for the six wells in question were, 100% interest before royalties: South Akcakoca-2: 7-8.2MMcf/d; Akcakoca-3 7MMcf/d; Alapli-2: 11.9MMcf/d; West Akcakoca-1: 5.9MMcf/d; Bayhanli-2: 11.9MMcf/d and Guluc-2: 16.35MMcf/d.
Perforation Program Updates
In
Artificial Lift Program Activities and Timeline
The 2022-2023 SASB development drilling program succeeded in 6 out of 6 wells, resulting in large volumes of gas reserves being tied into the pipeline for production. The artificial lift solutions being deployed are expected to monetize the reserves for sale.
About the Company
Contact
1-778-819-1585
e-mail: info@trillionenergy.com; ahalleran@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
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