Trio Petroleum Corp. provided an operational update on December 4, 2024, outlining its plans to increase oil production and cash flow at the McCool Ranch Oilfield in Monterey County, California. Current oil production from the HH-1 and 35X wells is stable at approximately 10 to 20 barrels of oil per day (BOPD).
The company is evaluating options to boost production, including resuming cyclic-steam operations, which historically increased production from 30 BOPD to a peak of about 400 BOPD in 2014-2015. Trio plans to utilize its on-site steam generator for these operations and restart production from three additional wells: the 58X, HH-3, and HH-4.
KLS Petroleum Consulting LLC, an independent engineering firm, recommends developing McCool Ranch with horizontal wells, estimating the property could accommodate approximately 22 additional such wells. Trio Petroleum may commence a drilling program in 2025 to implement this development strategy.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.