Trio Petroleum Corp Provides Update On Monterey County Operations; Oil Production Restarted At McCool Ranch Field At ~400 Barrels Fluid Per Day (Oil & Water) From The HH-1 And 58X Wells
Portfolio Pulse from Benzinga Newsdesk
Trio Petroleum Corp (TPET) has restarted oil production at McCool Ranch Field, Monterey County, with the HH-1 and 58X wells producing approximately 400 barrels of fluid per day. The 35X well is also expected to restart soon. Additionally, oil production will restart at the South Salinas Project's HV-3A well. TPET acquired McCool Ranch in October 2023 and plans to develop the area further with horizontal wells. The company aims to increase cash flow and shareholder value through smart acquisitions and operational efficiency.
March 04, 2024 | 1:47 pm
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Trio Petroleum Corp has successfully restarted oil production at McCool Ranch and plans further development, indicating potential for increased cash flow and shareholder value.
The successful restart of oil production at McCool Ranch and the planned development of additional wells indicate a positive outlook for TPET's operational efficiency and financial performance. The company's focus on increasing cash flow and making smart acquisitions to enhance shareholder value further supports a positive short-term impact on TPET's stock price.
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