• Trillion Energy (TCF) has announced plans to add three side-track wells to its development program during 2023
  • The total number of wells now contemplated in the SASB development program has increased to twenty
  • Eleven of these well operations are anticipated to occur during 2023, resulting in increased quantities of natural gas production during the year
  • Arthur Halleran, CEO of Trillion, sat down with Sabrina Cuthbert to discuss the news
  • Side-track wells and workovers take less time and cost about $3 million less than long-reach directional wells
  • Trillion Energy Inc. (TCF) opened trading at C$0.385

Trillion Energy (TCF) has announced plans to add three side-track wells to its development program during 2023.

The total number of wells now contemplated in the SASB development program has increased from seventeen to twenty.

Eleven of these well operations are anticipated to occur during 2023, which will result in rapidly increased quantities of natural gas production during the year.

Side-track wells and workovers take relatively less time and cost about $3 million less than long-reach directional wells, allowing for an increase in the number of planned wells for 2023.

Arthur Halleran, CEO of Trillion, sat down with Sabrina Cuthbert to discuss the news.

“During 2023, we are focusing on using the Uranus rig to increase production through new wells, sidetracks and workovers. An added benefit of drilling side tracks from existing well boreholes is that they are already tied into the pipeline and production facility. Once drilled and completed, the wells are immediately put into production. We are currently in the process of getting our partner’s feedback on the proposed side tracks. We are pleased to have developed a work program which permits continuous drilling over the year to enable us to exit 2023 with 13 wells.”

Trillion Energy is an oil and gas company focused on natural gas production for Europe and Turkiye, with natural gas assets in Turkiye and Bulgaria. The company is 49 per cent owner of the SASB natural gas field, one of the Black Sea’s first and largest-scale natural gas development projects.

Trillion Energy Inc. (TCF) opened trading at C$0.385.


More From The Market Online

Buzz on the Bullboards: Looking for volatility-proof stocks?

Investors saw developments in Canadian and U.S. stock markets, with attention on decisions made by central banks and moves in key sectors.

Enbridge completes Alliance Pipeline and Aux Sable sale to Pembina

Canadian energy stock Enbridge (TSX:ENB) completes the sale of two oil assets in northeastern British Columbia to Pembina Pipeline Corp.
The Market Online Video

Prospera Energy plots success with proven reserves, M&A plans

Prospera Energy (TSXV:PEI) CEO Samuel David discusses the company's latest news and the forecast for 2024 in an exclusive interview.