Trio Petroleum Partners with Croverro Energy on 14-Well Heavy Oil Drilling Program

Trio Petroleum has partnered with Croverro Energy to develop up to 14 multilateral heavy oil wells in Canada's Lloydminster region.

The agreement includes five potential wells in Alberta and nine in Saskatchewan, as well as a separate re-entry opportunity at Rivercourse and the acquisition of producing properties.

Croverro will remain operator of the assets, with Trio funding approximately C$1.8 million in development capital for each two-well earning program in exchange for an 80% revenue interest until costs are recovered.

The development will target thin, laterally extensive heavy oil reservoirs using multilateral horizontal wells, a technique that increases reservoir contact and potentially improves recovery and capital efficiency.