Trio Petroleum Corp. announced on May 23, 2025, its decision to suspend operations at the McCool Ranch Oilfield in California and terminate its efforts to acquire a working interest in the project. This determination was made due to the cost-prohibitive nature of operations under previously negotiated terms.
The company cited high natural gas prices and significant water disposal costs, particularly in California, as factors making cyclic-steam operations uneconomical for increasing production. Trio concluded that continued operations at McCool Ranch would not be economically feasible in the long run.
Trio Petroleum will now focus its efforts on other sites that it believes will be more economically feasible and generate greater profits. This strategic shift aligns with the company's broader goal of prioritizing assets with lower operational costs and higher potential returns.
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