Touchstone Exploration is charting a transformative course in Trinidad’s energy sector, unveiling new opportunities for investors. The company’s recent developments and strategic initiatives position it as a key player in the region’s oil and gas industry.
As of September 30, 2024, Touchstone reported an average daily production of 5,883 barrels of oil equivalent per day (boe/d), comprising 1,325 barrels per day (bbls/d) of crude oil and liquids, and 27,349 thousand cubic feet per day (Mcf/d) of natural gas. The company’s gross 2P reserves stood at 67.4 million barrels of oil equivalent (MMboe), indicating a reserve life index of approximately 14.4 years.
The strategic acquisition of the Central Block from Shell, encompassing 6,699 acres with a 65% working interest, enhances Touchstone’s asset base. This acquisition includes the Evergreen Gas Facility, which boasts an 80 million standard cubic feet per day (MMscf/d) capacity and connections to both liquefied natural gas (LNG) and domestic markets.
Touchstone’s diversified portfolio now spans eight core properties, all 100% operated, covering 144,893 net acres with an average working interest of 81%. The company’s facilities include the Cascadura Natural Gas Facility, commissioned in September 2023 and expanded in November 2024 to a capacity of 140 MMscf/d, and the Coho Natural Gas Facility, commissioned in October 2022 with a 24 MMscf/d capacity.
Future exploration targets include the Cretaceous prospects within the Cipero, Charuma, and Rio Claro blocks, with identified anomalies that could unlock new onshore play types, potentially mirroring offshore discoveries near Guyana.
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.
