{"id":12540,"date":"2023-04-13T14:30:12","date_gmt":"2023-04-13T11:30:12","guid":{"rendered":"https:\/\/www.robomarkets.com\/blog\/?p=12540"},"modified":"2024-01-30T18:03:25","modified_gmt":"2024-01-30T15:03:25","slug":"trio-petroleum-ipo-oil-for-california","status":"publish","type":"post","link":"https:\/\/www.robomarkets.com.cy\/blog\/stock-market\/ipo\/trio-petroleum-ipo-oil-for-california\/","title":{"rendered":"Trio Petroleum IPO: Oil for California"},"content":{"rendered":"\n

Trio Petroleum Corp. and its IPO<\/a> on the NYSE will be in the spotlight today. The IPO is scheduled for 14 April. The shares<\/a> will trade under the ticker TPET. The company explores and develops crude oil and gas fields in the US.<\/p>\n\n\n\n

We will discuss the details of the company’s business model, the peculiarities of the IPO, the prospect of the target market, the main competitors of the company, its financial situation, advantages and disadvantages.<\/p>\n\n\n\n

\n\n
\n\n
\n

Want to trade stocks without commission?<\/p>\n

Gain access to over 1000 US stocks for commission-free trading on the R StocksTrader<\/span> platform<\/p>\n <\/div>\n

\n \"partner-programme\"\n <\/div>\n Start Now<\/a>\n <\/div>\n
\n\n \"partner-programme\"\n <\/div>\n <\/div>\n\n\n\n

<\/span><\/a>What we know about Trio Petroleum<\/span><\/h2>\n\n\n
<\/rg-instrument><\/div>\n\n\n\n

Trio Petroleum Corp. is an energy company that explores and develops crude oil and gas fields in the United States. It was founded in 2021 and has its headquarters in Danville, US. Since February 2022, the post of CEO has been occupied by Frank Ingriselli who used to hold the same office at Indonesia Energy Corporation.<\/p>\n\n\n\n

\"Potential
Potential fields of Trio Petroleum Corp.<\/em>*<\/figcaption><\/figure>\n\n\n\n

Trio Petroleum Corp. owns the South Salinas field in Monterey, California. It occupies roughly 3,480 hectares (8,600 acres). According to the issuer, the potential crude oil mining volume at South Salinas amounts to 39 million barrels and that of natural gas is 1.2 billion cubic meters. The first oil mine in this field is going to be drilled after the IPO. However, there is no data about the volumes of daily mining.<\/p>\n\n\n\n

According to the Energy Information Administration (EIA), 131 million barrels of black gold<\/a> were mined in California in 2021. Since 1985, when the energy crisis in the region was overcome, this figure has been falling stably.<\/p>\n\n\n\n

\"South
South Salinas project<\/em>*<\/figcaption><\/figure>\n\n\n\n

At the current stage, Trio Petroleum Corp. plans to launch 7 oil mines in South Salinas. In the third quarter of 2024, 12 more mines will be launched. The management thinks they will become the main source of the company’s revenue.<\/p>\n\n\n\n

The management plans to use the favourable global market situation. Fossil fuel does still enjoy high demand, while alternative energy sources have yet to become dominant. Moreover, for now, regulators accept nature gas as an ecologically clean fuel.<\/p>\n\n\n\n

\"Oil
Oil fields in California<\/em>*<\/figcaption><\/figure>\n\n\n\n

By 30 April 2022, Trio Petroleum Corp. had gathered 10 million USD of investments. Its main investors are Elpis Capital Ltd, Gencap Fund I LLC, Primal Nutrition Inc., and Naia Ventures LLC.<\/p>\n\n\n\n

\n
\n
\n

Want to trade with premium conditions?<\/p>\n

Open a Prime account and enjoy fast execution, low commissions, and spreads from 0 pips<\/p>\n <\/div>\n

\n \"partner-programme\"\n <\/div>\n Open a Prime Account<\/a>\n <\/div>\n
\n \"partner-programme\"\n <\/div>\n <\/div>\n\n\n\n

<\/span><\/a>Prospects of Trio Petroleum addressable market<\/span><\/h2>\n\n\n\n

At the current stage, the issuer plans to mine and sell crude oil in California, the US. According to the EIA, 70% of crude oil consumed in the region is imported from Ecuador, Saudi Arabia, and Iraq. An increase in black gold mining in the state could strengthen its energy safety.<\/p>\n\n\n\n

California is the second-largest state in the country in terms of oil consumption after Texas. According to the Offshore Technology report, 591.9 thousand barrels of oil were mined daily in the state in February 2022, while the demand was 1.97 million barrels. High prices for energy carriers on the global market stimulate the speed and volumes of crude oil mining in the US, as well as have a good influence on its profitability.<\/p>\n\n\n\n

\"Daily
Daily crude oil production in California in February 2021-February 2022, according to Offshore Technology<\/em>*<\/figcaption><\/figure>\n\n\n\n

The main competitors are:<\/p>\n\n\n\n