Wednesday, April 12, 2023
Trillion Energy International Inc. said on Tuesday that it had built its fifth well at Turkey’s SASB field on track for completion of drilling in May.
The Bayhanli-2 well in the Black Sea field “targets a previously undiscovered gas pool,” the Vancouver-based company said in a press release. It was done on April 5, Trillion said.
The well is expected to reach a total depth of 11,154.86 feet (3,400 meters) and 3,937.01 feet (1,200 m) in true vertical depth.
“The Bayhanli gas pool is an important target and will likely require additional wells in the future to fully produce economic reserves,” Trillion said.
“We anticipate that drilling, casing, drilling and testing will take a total of about 45 days,” the Canadian- and German-listed company said.
The company previously announced that its proven and probable conventional gas reserves in the SASB field rose 30 percent to 63.3 billion cubic feet (Bcf) by January 2023 from 48.5 Bcf last year.
“We expect our continued drilling program to continue to grow our reserves throughout the year, further enhancing shareholder value,” CEO Arthur Halleran said in a statement on April 5.
Trillion previously said its Guluc-2 and West Akcakoca-1 natural gas wells, both in the SASB field, had completed testing.
Guluc-2 “will now enter a long-term production rate of around 6MMcf/d [million cubic feet per day]” he said on March 29.
Two zones in West Akcakoca-1 “were tested to flow at a rate of 5.9 MMcf/day” and would now begin long-term production, Trillion said in a March 28 statement.
The field’s other two wells, Akcakoca and South Akcakoca-2, began production in November 2022. The two wells contributed to Trillion’s $2,647,053 in December pre-royalty earnings of 87.4 MMcf of production of gas
“Under our plan, the gas revenue generated [from December] are used to fund further drilling activities at SASB,” Halleran said in a Jan. 25 statement.
Trillion expects 11 wells to start producing this year.
Trillion calls the SASB field in the southwest Black Sea one of the largest offshore natural gas development projects. It owns 49 percent and has 21 well programs in development of the field.
SASB includes “numerous” shallow-water pools of conventional natural gas and has produced more than 42 Bcf since initial development in 2007, according to Trillion’s website.
“The SASB gas field is producing a critical domestic supply of natural gas during the energy crisis currently affecting Europe,” the website states.
In October, Trillion said it was fully funded to ramp up natural gas production at SASB for Europe, pointing to the shutdown of Nord Stream and other shutdowns.
“This supply is essential as several sources of gas that Europe previously depended on are cut off. [sic]as the Nord Stream I and II gas pipelines, which are now defunct, suffered explosions last week [September 26, 2022, as reported by owner Nord Stream AG] and the Groningen field, owned by ExxonMobil and Shell, has been forced to cut production by the Dutch government to less than 2 BCM in 2023, down from 4+ BCM in 2022,” Trillion said.
“In addition, last week Russia cut gas supplies to Italy, cut gas supplies from Moldova by 30 percent, and announced the closure of the pipeline through Ukraine to Europe,” Trillion said in the ‘announcement of October 4.
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