Trio Petroleum Corp Provides Update on Monterey County Operations
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Monday, February 5, 2024
Well, Trio, Annual report, Steam, 3D, BOPD, Fracture, Monterey Formation, Fresh water, Water, Acquisition, KLSP, Independent, Oil
Bakersfield, CA, Feb. 05, 2024 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: TPET) (“TPET”, “Trio” or the “Company”), a California-based oil and gas company, today provided an update on its operations in Monterey County, California, where it has ownership in two assets: the South Salinas Project and the McCool Ranch Oilfield (“McCool Ranch”).
Key Points:
- TPET announced on Oct. 18, 2023, the acquisition of approximately 22% working interest in McCool Ranch, located in Monterey County seven miles north of the Company’s South Salinas Project.
- Trio will be restarting oil production of these previously producing wells that have been primarily idle since 2015.
- TPET’s investment at McCool Ranch is primarily allocated to restarting production and is expected to establish important cash flow.
- Now cleared and field conditions stabilized, operations will commence to restart oil production at the 58X-23 and HH-1-ST2 wells and possibly the 35X-23 well.