Trillion Energy International (CSE: TCF) has announced an increase in production from its 49% ownership of the SASB natural gas field located in the Black Sea offshore Turkey. Four perforated wells have yielded a total of 140 million cubic feet of natural gas since entering production between July 9 and July 28.
Trillion Energy International is a company engaged in the oil and natural gas sector, supplying the Turkish and European markets. The company’s stock has experienced a decline of 93.03% year-over-year.
The recently drilled long-reach deviated wells, including Guluc-2, South Akcakoca-2, and West Akcakoca-1, along with the recompleted legacy well Akcakoca-3, have begun production as part of the SASB’s long-term development program. Specific production highlights include South Akcakoca-2 stabilizing at approximately 2.75 million cubic feet of natural gas per day (MMcf/d) after 36 days of production, Guluc-2 producing at a stable rate of 1.25 MMcf/d, and West Akcakoca-1 averaging 0.60 MMcf/d for over two weeks.
Trillion Energy plans to increase production to 8 MMcf/d by the end of the year and aims to expand the number of completed wells from six to 17 in the near future. These efforts are expected to help bridge the gap between the company’s market capitalization and share price.
Arthur Halleran, the CEO of Trillion Energy International, expressed optimism about the successful completion of the wells on the Akcakoca Platform, emphasizing the field’s robust production potential. The company is considering adjustments to the production tubing size to stabilize gas production at targeted rates.
Trillion Energy International operates in the oil and natural gas sector, serving the Turkish and European markets. Aside from the SASB natural gas field, the company also has interests in the Cendere oil field and exploration blocks in southeastern Turkey.
Trillion Energy stock (CSE: TCF) is currently trading at C$0.12 per share, showing a decline of 93.03% year-over-year. Investors can find more information and discussions about the company’s stock on the Trillion Energy International Inc. Bullboard and Stockhouse’s stock forums and message boards.
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