Natural Gas growth drives global energy shift

Touchstone Exploration

Touchstone Exploration Inc. is a Canadian-based oil and gas company focused on onshore operations in Trinidad and Tobago. Since its establishment in 2010, the company has become the largest independent onshore oil and natural gas producer in Trinidad, leveraging its extensive geological knowledge and strong local partnerships

Touchstone’s natural gas activities are primarily centered around the Coho and Cascadura fields, located within the Herrera formation. In 2019, the company initiated its exploration program, resulting in five successful exploration and appraisal wells in these areas. As of mid-2024, Touchstone reported an average daily net production of 5,061 barrels of oil equivalent per day (boe/d) from its natural gas operations, with gross 2P reserves estimated at 53,030 million barrels of oil equivalent (Mboe)

In late 2024, Touchstone expanded its asset base by acquiring the Central Block, which includes an 80 million cubic feet per day (MMcf/d) gas processing facility and access to both the Trinidad domestic market and the Atlantic LNG export facility. This acquisition increased the company’s net production by approximately 2,080 boe/d, predominantly natural gas, and provided strategic infrastructure for future development

For the year 2024, Touchstone reported petroleum and natural gas sales totaling $57.47 million, marking a 19% increase from the previous year. This growth was driven by enhanced production volumes, particularly from the Cascadura field

Operational Highlights

  • Production Growth: Achieved an average daily production of 5,734 boe/d in 2024, with a portfolio that is 76% weighted towards natural gas
  • Exploration Acreage: Holds approximately 144,893 net acres of exploration and development rights in southern Trinidad, including key blocks such as Ortoire, Cipero, Charuma, and Rio Claro
  • Infrastructure Development: Continued investment in infrastructure, including the development of the Cascadura natural gas processing facility and associated pipelines, to support increased production and export capabilities
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Touchstone Exploration Inc (LON:TXP) reports impressive 2024 financial results, highlighting record production and strategic growth, fueled by Cascadura's success.
Touchstone’s management has highlighted key growth catalysts. These include potential new wells in Rio Claro, believed to be an eastward extension of Cascadura, and the anticipated completion of its $23 million acquisition of Shell Trinidad Central Block Ltd (STCBL) in Q2 FY25.
Touchstone Exploration Inc (LON:TXP) unveils its 2024 year-end reserves, showcasing substantial asset potential and growth in Trinidad's energy sector.
Touchstone Exploration’s acquisition of Shell Trinidad Central Block boosts its strategic growth, enhancing its position as a top onshore gas producer in Trinidad.
Touchstone Exploration expands its portfolio with a $23M acquisition of Shell’s Central Block licence, boosting gas assets and market opportunities.

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