Trio Petroleum Corp., Bakersfield, Calif., encountered accumulations of oil and gas in Presidents field in its 9,267-acre South Salinas project in Monterey County, Calif.
Confirmation comes from the HV-1 well, a two-mile step-out from Trio’s HV-3A discovery well that found high-quality, mid-gravity oil at depths of 3,750-5,100 ft, the company said in a release May 16.
HV-1 drilled through about 1,800 ft of the Monterey formation with major indications of oil and gas prior to reaching total depth at 6,631 ft, the company said (OGJ Online, May 1, 2023).
Well casing is being run from surface to total depth to complete the well, and well data evaluation has begun. The company expects to put HV-1 on production after finalizing completion operations and evaluation of the new data, after which it expects to have a better understanding of production rates, said Frank Ingriselli, Trio’s chief executive officer.
The HV-1 well location was chosen based on interpretation of 3D seismic data. Trio owns 85.75% working interest in the field.