Touchstone Exploration reports 151% increase in quarterly production

Touchstone Exploration Inc reported that its average quarterly production increased by 151% to 8,504 barrels of oil equivalent per day (boe/d) in the last quarter of last year compared to the previous quarter.

This increase, Touchstone stated, was the result of a full quarter of Cascadura production volumes.

“The transformational increase in production through the final months of 2023 reflects the commencement of production at our Cascadura field. The associated growth in cash from operations, combined with our anticipated increase in borrowing capacity, will enable us to pursue our previously announced 2024 capital budget focused on driving further growth,” Touchstone’s president and chief executive officer Paul Baay said.

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.

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