Touchstone Exploration Inc. has unveiled its preliminary 2025 capital budget and financial guidance, with a clear focus on expanding production and enhancing the efficiency of its Cascadura assets. The company’s President and CEO, Paul Baay, emphasised their commitment to maximising the potential of the Cascadura field by leveraging the significant infrastructure and flowline installations completed in 2024.
The company’s 2025 capital budget totals US$23 million, with the majority of funds, US$20 million, earmarked for the Cascadura field, and US$3 million allocated for exploration licence payments and well optimisation. As part of its growth strategy, Touchstone plans to drill four gross Cascadura development wells in 2025, with two wells planned for Pad B in the first quarter and two for Pad C in the third quarter. This drilling programme is integral to the company’s “drill-to-fill” strategy, designed to enhance production and optimise asset performance.
Touchstone intends to fund the capital programme through operating cash flows, along with an anticipated US$10 million increase in its debt facilities. Despite the additional funding, Baay reassured that the company remains committed to maintaining financial stability and expects its net debt to remain in line with 2024 levels by the end of 2025. The company projects a strong funds flow of US$22 million from operations in 2025, demonstrating confidence in its strategy and financial outlook.
Touchstone’s 2025 plans reflect a clear strategy for growth and efficient asset management, ensuring the company remains financially stable while expanding production at Cascadura.
Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago. Primera Oil and Gas is the Trinidadian subsidiary of Touchstone.
