Touchstone Exploration Inc (LON: TXP) has announced its preliminary annual 2025 capital budget and financial guidance.
Paul Baay, President and Chief Executive Officer, commented:
“Our 2025 strategy focuses on driving sustainable growth by building on the success of our foundational Cascadura asset. We aim to fully leverage the extensive infrastructure and flowline installations completed in 2024 to unlock the field’s potential. Our preliminary 2025 capital budget focuses on executing our “drill-to-fill” strategy, which involves drilling four gross Cascadura development wells to increase production and optimize asset performance. This approach will enable us to capitalize on the existing processing capacity established at our Cascadura facility.
We intend to fund this program through operating cash flows generated from our assets, complemented by a near-term increase in our debt facilities. With prudent financial management, we expect to exit 2025 with a net debt level consistent with that of 2024, demonstrating our commitment to maintaining financial stability.
I want to extend my gratitude to our employees, shareholders, and stakeholders for their unwavering support and trust. At Touchstone, we remain dedicated to delivering operational excellence, guided by a culture that prioritizes safety above all else. Building on the achievements of 2024 – including substantial production growth and the expansion of critical infrastructure to enhance operational efficiencies – we are excited to carry this momentum into 2025.“
