TRIO PETROLEUM ANNOUNCES LLOYDMINSTER ACQUISITION WITH CUMMINGS MULTILATERAL OIL WELL AND WORKOVER PRODUCTION GROWTH OPPORTUNITY
Trio Petroleum's Canadian subsidiary has acquired 24 oil wells from Marlin Resources Ltd., including 4 producing and 20 shut-in heavy-oil assets, located in Saskatchewan's Lloydminster region. The acquisition includes a Cummings multilateral oil well and presents workover production growth opportunities.
Why it matters — TPET watchers would care because this acquisition expands the company's heavy-oil asset base in the Lloydminster region and could potentially bring shut-in wells back into production.