Touchstone Exploration to acquire Trinity Exploration in $30.1 million deal

Touchstone Exploration Inc., Calgary, has agreed to acquire Trinity Exploration and Production Plc in an all-share deal with an implied value of about $30.1 million.

Trinity is a crude oil exploration, development, and production company with onshore and offshore assets solely in the Republic of Trinidad and Tobago.

The combination would create “a Trinidadian operator of scale with a significant inventory of onshore and offshore exploration and development assets,” Touchstone said in a release May 1, and “combined funds flow from operations from an increased production base will allow the combined company to invest in multiple development programs concurrently.”

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.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Touchstone Exploration

More articles like this

Touchstone Exploration

Touchstone Exploration maximise energy potential

Touchstone Exploration’s expanding exploration portfolio boasts 137,312 acres, with strategic assets such as Ortoire and Cipero holding significant potential for energy resources and long-term growth.

Touchstone Exploration

Touchstone Exploration advances growth in Trinidad

Touchstone Exploration solidifies its position in Trinidad’s energy sector with the recent acquisition of the Rio Claro block through its subsidiary, Primera Oil and Gas. Exciting new opportunities await.