logo-loader

Trillion Energy eyeing higher revenues from Cendere field in Turkey after well workovers

Published: 12:00 25 Feb 2021 EST

Trillion Energy International Inc. -
Trillion noted that it has enjoyed oil price increases to over US$63 a barrel this year, up from a low of US$17 during April 2020

Trillion Energy International Inc (CSE:TCF) (OTCMKTS:TCFF) (FRA:3P2N), the oil and gas producer, has boosted production at its Cendere oil field in Turkey thanks to two well workovers, the company said on Thursday.

Combining this with higher crude prices, the oiler said it is now on track to exceed its 2019 oil revenues at the field.

The company noted that re-completion of the Cendere 13 well, where the firm has a 100% working interest (WI), resulted in daily gross production increasing by 469 barrels of oil per day (bopd) to 714 bopd. As at February 1 this year, output was 654 bopd. Operational costs at the well also fell.

READ: Trillion Energy poised to start re-development at SASB gas field in Black Sea as commodity prices recover

Meanwhile, the Cendere 23 well - in which trillion also has a 100% WI - was re-completed on February 21 and resulted in an uplift of 30 bopd to 100 bopd

Trillion noted that it has enjoyed oil price increases to over US$63 a barrel this year, up from a low of US$17 during April 2020.

Historically, revenues from the Cendere oil field were US$2.9 million in 2019, net to Trillion at an average sale price of US$62.43, but 2020 sales dropped to US$1.7million due to the oil price crash of early 2020.

"The company is now on track to exceed it 2019 oil revenues for the Cendere field due to the combined production and price increases," it told investors in a statement.

Cendere is a stable, long-term, low decline oil field, which has produced 20,851,770 barrels to date and current production is 1,204 bopd (100%WI) from 14 wells. A total of 23 wells have been produced at Cendere.

Contact the author at giles@proactiveinvestors.com

Trillion Energy begin drilling operations at Alapli-2 natural gas well in Turkey

  Trillion Energy CEO Arthur Halleran joined Steve Darling from Proactive to share news the company has announced the spudding of the Alapli-2 natural gas well at the SASB gas field, offshore of Turkey. Halleran telling Proactive this is the company’s sixth well and is a long-reach...

on 06/14/2023