Trans Canada Gold Corp. is celebrating another month of steady oil production as two Lloydminster wells shipped 5,376 barrels for the month of January.
The wells produced an average daily rate of 168.5 bbl/d gross (31.5 bbl/d net).
Production shipping and sales commenced on the first newly drilled multilateral well on Oct. 6, 2023. The new well was brought onto production in mid-September 2024.
Trans Canada Gold’s operator, Croverro Energy Ltd., has set a 2025 preliminary budget. It’s currently under review by management with one multilateral well forecasted to be drilled this summer.
Trans Canada Gold says it’s closely monitoring oil prices amid looming U.S. tariff threats.
“We are expecting steady oil production for 2025, and are exploring additional exploration drilling opportunities in both central Canada and the United States and the Company will continue with its newly adopted multilateral well drilling strategy for 2025-2026 using new state of the art multilateral well drilling techniques in Alberta and Saskatchewan, to create growth,” said Tim Coupland, Trans Canada Gold Corp. president and CEO.
Croverro remains optimistic about resuming operations and restoring production on a newly drilled GP well once the extreme cold in Alberta improves and their repair plan is fully implemented.
Read more: Second well drilling starts near Lloydminster
