Trinity E&P Kicks Off Six-Well Onshore Drilling Campaign

Trinity E&P Kicks Off Six-Well Onshore Drilling Campaign
Trinity Exploration & Production has begun drilling operations for the first well of its 2022 six-well program.

An independent E&P company focused on Trinidad and Tobago, Trinity Exploration & Production, has begun drilling operations for the first well of its 2022 six-well program.

As previously outlined, the fully-funded drilling program, which includes conventional infill wells, a horizontal well, and a deeper appraisal well, is targeting an aggregate 450 – 1,100 mbbls of reserves at a cost of $14 – $17 million.

These are significantly higher volumes per dollar of capital invested, that in a success case, would generate materially increased cash returns compared with previous drilling programs.

Trinity believes that the potential returns from the proposed horizontal and deeper appraisal wells could underpin a material increase in production rates and potentially unlock previously untapped deeper pools of hydrocarbons. If successful, the horizontal well could yield production rates and returns around three times those achievable from conventional infill wells, with the wider program also benefiting from the mapping and integration of the 3D seismic acquired in 2020, enabling a more targeted and de-risked approach to the company’s drilling activities.

The company added that it was confident that it could support a multi-year onshore drilling program from the prospects and leads identified from the evaluation of the 3D seismic.

The 3D seismic interpretation has, to date, identified a hopper of around 40 infill opportunities, which includes circa 35 conventional wells and some 5 high angle or horizontal wells.

The successful drilling of the deeper appraisal prospect would add more highly attractive prospects to the hopper, giving a greater line of sight on the company’s ability to deliver on its stated ambition to double production by 2024.

While Trinity has a firm timetable in place, inclement weather conditions could have an impact on workflow. Noting the current orange-level tropical storm warning in Trinidad, management will move to ensure the health and safety of its workforce and contractors – and if necessary – may opt to briefly pause drilling operations.

“We are delighted to have recommenced our drilling activities. We have significantly improved our understanding of our acreage through the 3D data acquired, underpinning our confidence in the current program while also positioning the company to take advantage of future opportunities.

“We have set ambitious drilling targets as we focus on a step change in production, which could be further augmented by potential developments at our Trintes, Galeota, and Brighton assets,” Jeremy Bridglalsingh, CEO of Trinity said.

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