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Trinity Exploration & Production output slips 7% in first quarter

By BFN News | 07:46 AM | Monday 19 April, 2021


Trinidad and Tobago focused oil company Trinity Exploration & Production said its first-quarter output had slipped 7%. Product for the three months through March had fallen to 3,107 barrels of oil per day, down from 3,347 bopd year-on-year. Compared to the fourth quarter of 2020, the fall was a more modest 3%. Trinity Exploration & Production said it expected net average production for 2021 at between 2,900 and 3,100 bopd -- before the potential drilling of new wells and/or acquisitions -- down from 3,226 bopd in 2020. 'Production volumes for the remainder of 2021 will depend on oil price and general market conditions supporting the economic and technical (based on onshore seismic interpretation) case for the resumption of new drilling activity,' it added. Story provided by StockMarketWire.com

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