Trio Petroleum Corp. provided operational updates on its Presidents and McCool Ranch fields in Monterey County, California, according to an April 11 press release.
On March 26, Trio brought the HV-3A well in the Presidents Field, a part of the South Salinas Project, back into full-time production.
The company said oil production on the well averages 30 bbl/d and is producing from 125 ft of perforations in the Yellow Zone and upper Monterey Clay each.
Trio believes that production at HV-3A can increase through low-cost investments such as perforating up to 650 ft in the currently producing oil zones and opening already perforated deeper behind-pipe oil zones, acidizing the well for borehole cleanup.
The company’s geological team estimates that there are up to 50 additional developmental well locations in Presidents Field at 40-acre well spacing.
At McCool Ranch, Trio is operating the HH-1 well, which is producing approximately 45 bbl/d of oil. Based on the well’s production results, the company plans to add more shut-in oil wells in the field.
The 35X well, located in McCool Ranch, returned to production this month, while the 58X well is in the final stages of being brought back online after receiving a heat treatment, Trio said.
“Bringing these wells back online and taking the necessary steps to permit permanent production sets the stage for an expanded drilling program in these fields,” said Trio CEO Michael Peterson. “We correctly identified these assets from a geological perspective, we drilled successful multiple test wells. Now we want to take the logical next steps in extracting value from these assets.”
The HH-1 well and the HV-3A well collectively produce about 75 bbl/d and volumes are expected to increase as the 35X and 58X wells resume full time.