Eight new wells in Trillion’s next year plan

Canadian oil and gas producer Trillion Energy is planning to bring on eight new wells or workovers into production next year through continuous drilling on a natural gas field in the Black Sea offshore Türkiye.

Bringing what the company describes as a “transformative year” to an end, Trillion announced in its 2023 outlook that it expects 12 months of continuous drilling to take place at the SASB natural gas field, where the plan is to bring on eight new wells or workovers into production, two per quarter.

In Q1 2023, the Canadian company anticipates double production through the completion, perforation, and testing of the Ak-West and Guluc-2 wells, while six additional wells are expected to be drilled off of other platforms in the SASB gas field between Q2 and Q4 2023.

According to Trillion, the plan is to use revenue from the initial wells to fund additional CAPEX costs for the $100 million Phase A & B SASB development programs, consisting of about 17 wells.

After hiring the Uranus jack-up rig in May, Trillion spudded its first well, South Akçakoca-2, in the drilling campaign on the SASB natural gas field in September. The following month, the Canadian firm disclosed preliminary gas indications from this well, after numerous potential gas zones were identified on logging.

In November, the flow test results for this well were revealed and the company started the recompletion work on the second well – Akçakoca-3 – in its drilling program for the shallow-water conventional gas field. Once the well came on stream, the company announced the well’s flow test results.

At the end of last month, Trillion Energy reported that the Uranus rig was repositioned to drill the West Akçakoca-1 well, the third one in the SASB development program. At the time, the Canadian player underlined that both the West Akçakoca-1 and Guluc-2 wells would be spudded a few weeks apart and completed in sequence.

The company confirmed last week that it had started drilling the fourth well – Guluc-2 – at the gas field. Upon completion, the rig will move back and complete the West Akçakoca-1 well.

Trillion Energy notes that it exits 2022 with between 7 and 8.2 mmcf/d production sold at over $30/MCF from AK-3 and AK-South wells.