Welcome to our dedicated page for Trillion Energy International news (Ticker: TRLEF), a resource for investors and traders seeking the latest updates and insights on Trillion Energy International stock.
Trillion Energy International Inc. (OTCQB: TRLEF) generates a steady stream of news centered on its oil and natural gas production activities for Europe and Türkiye. The company’s updates highlight operational work at its SASB offshore gas project in the Black Sea and its interests in the Cendere oil field, giving investors and observers insight into how it manages and develops its energy assets in Türkiye.
Recent news releases describe operational updates at the SASB gas field, including the installation of velocity string tubing in multiple wells on the Akcakoca platform and tripod-based wells such as Alapli-2 and Bayhanli-2. These reports detail the use of nitrogen injection, gas lift compressor systems, and artificial lift solutions like Progressive Cavity Pumps and slim-hole Electric Submersible Pumps, all aimed at mitigating water loading and supporting long-term gas production.
Trillion’s news flow also covers capital markets and corporate actions, such as extensions to the maturity date of its 12.0% convertible debentures, and shares-for-debt settlements with directors, officers, consultants, and other creditors. Some of these transactions are characterized as related-party transactions under Multilateral Instrument 61-101, with the company explaining the regulatory framework it relies on.
Corporate governance developments appear in the news as well, including the retirement of the CEO, the appointment of an interim Chief Executive Officer and Chairman, and additional management appointments. Together, these items provide context on how Trillion Energy is organizing its leadership and financial structure while advancing its oil and gas projects. Investors tracking TRLEF news can use this page to follow operational milestones, financing developments, and management changes over time.
Trillion Energy International Inc. has successfully drilled the Guluc 2 well at the SASB gas field, reaching a total depth of 3,910 meters. The logging data indicates over 73 meters of potential natural gas pay across 14 separate sands. The company plans to perforate initial intervals soon, expecting revenue generation in the first week of February. This success follows two previous wells at the site, enhancing optimism regarding the gas reserves. The CEO highlighted the significant increase in gas pay compared to the Guluc 1 well drilled a decade ago.
Trillion Energy International has announced the start of a 3D seismic reprocessing project for the SASB natural gas field, covering 223 km2 of previously obtained data. This reprocessing will utilize advanced pre-stack depth migration (PSDM) techniques to enhance geological insights, targeting gas reservoir units and unexplored stratigraphic prospects. The project is set to begin in early March 2023 and is expected to take five to six months. CEO Arthur Halleran noted that the initiative is crucial for understanding gas potential and discovering new gas pools at SASB, which is one of the largest-scale natural gas developments in the Black Sea.
Trillion Energy International reported that its 49% share of December 2022 gas production from the SASB field was 87.4 MMcf, generating USD $2,647,053 before royalties. Production commenced for two new wells in November 2022, contributing to revenue growth. The Guluc-2 well is nearing completion, encountering encouraging gas shows. CEO Arthur Halleran stated that revenues will fund further drilling, with plans for additional sidetrack wells in the upcoming quarters. Trillion holds significant interests in natural gas and oil assets in Turkey and Bulgaria.
Trillion Energy International (CSE: TCF, OTCQB: TRLEF) announced plans to enhance production at the SASB gas field by adding three new side-track wells, increasing the total planned operations from 17 to 20 wells for 2023. Eleven well operations are expected this year, potentially boosting natural gas output significantly. Side-tracks are cheaper and quicker to drill, costing about $3 million less per well compared to long reach wells. Natural gas prices in January 2023 are at a historic high of approximately US $27/MCF. The company aims to exit 2023 with 13 operational wells.
Trillion Energy International (OTCQB: TRLEF) reported significant production and revenue updates for November 2022. The South Akcakoca-2 well began production on November 4, generating US $1,412,073 in gas sales, and the newly online Akcakoca-3 well contributed additional revenue. December is projected to yield approximately US $2.1 million after royalties. The company anticipates total revenue from these wells to reach between US $20 to $24 million for 2023. Trillion is set to further expand production with two upcoming wells expected in Q1 2023, enhancing its financial outlook.
Trillion Energy International Inc. reported a transformative year in 2022 amid Europe's natural gas crisis. The company raised over CND $42 million and initiated a 17 well drilling program, successfully ramping production to 7-8.2 mmcf/d by year-end. Key achievements include completing the AK-South well and reentering AK-3 for production. 2022 saw natural gas prices soar by 67% from January to December, reaching over $30/MCF. Looking ahead, Trillion plans continuous drilling in 2023 with eight new wells and funding from initial revenues for further development.
Trillion Energy International Inc. has begun drilling the Guluc-2 well and has completed the West Akcakoca-1 well at the SASB natural gas field in the Black Sea. The Guluc-2 is expected to produce gas by the end of January 2023, while the West Akcakoca-1 well is set for completion in March 2023. Successful drilling of these wells will increase the number of producing wells from two to four, with revenues directed towards further development at SASB.
Trillion Energy International has spudded the West Akcakoca-1 well while the Akcakoca-3 well is now producing gas at 3.3 MMcf/d. The gas sales are generating revenue at over $30 per mcf, which will be reinvested into future drilling operations. The company plans to drill the Guluc-2 well subsequently. Initial production from Akcakoca-3 includes 27 metres of net pay yet to be perforated. The operations are part of the company's 17-well development program, enhancing its natural gas focus in Türkiye and Europe.
Trillion Energy International Inc. (CSE: TCF, OTCQB: TRLEF) has initiated gas sales from its South Akcakoca-2 well, achieving initial production rates of approximately 3.0 MMcf/d. The Akcakoca-3 well has been successfully cleared of lost equipment, making it ready for re-perforation of about 34 meters of gas-bearing zones. This operation is expected to be completed shortly, leading to increased production. The company is focused on natural gas production for the European and Turkish markets, with significant developments reported ahead of schedule.
Trillion Energy International Inc. has commenced the recompletion of the Akcakoca-3 natural gas well at the SASB gas field. This marks the second operation in the company's 17 well development program. The recompletion, which began on November 1, 2022, involves replacing bent tubing and perforating remaining gas zones, with an expected duration of 12 days. Initially producing since March 2011, Akcakoca-3 has faced production interruptions due to mechanical issues, but is anticipated to resume production post-recompletion. Trillion holds a 49% interest in the SASB field.
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