Trinity completes Galeota license upgrades

Trinidad and Tobago-focused E&P firm Trinity (AIM: TRIN) completed Rig 2 upgrades at its Galeota license offshore Trinidad, according to a release by the firm.

The upgrades will improve drilling efficiency and reduce costs, said the firm.
Infill drilling operations on the producing Trintes field have been delayed by bad weather but will recommence shortly with the spudding of the B9 well, which is expected to take up to 45 days to complete, said Trinity.

Additionally, Trinidad state oil company Petrotrin converted its 35% interest in the Trintes field to an over-riding royalty (ORR), upping Trinity's working interest in the field to 100%, and adding an additional 13Mb in 2P reserves and 470b/d in production, according to the release.
Trinity also recently signed a new crude oil sales agreement with Petrotrin, harmonizing the pricing of crude from the Trintes field with Trinity's other sales agreements under which pricing is linked to WTI.