Touchstone Exploration (AIM: TXP) has brought its PS-623 oil well in Trinidad and Tobago into production at an initial rate of 387 barrels of oil per day and reported gas test rates of up to 6.8 million cubic feet per day at Carapal Ridge-3.
PS-623 is the first of two wells planned in the WD-4 drilling campaign. The well was drilled to a total depth of 6,500 feet and identified approximately 450 feet of potential net hydrocarbon pay. It was completed across 40 feet in the Cruse formation.
The initial production rate was recorded during the first 24 hours. Touchstone expects the rate to decline from this initial level as production stabilises.
The drilling rig has now moved to the second WD-4 location, with drilling expected to begin shortly. The drilling contractor will cover the turnkey costs of the second well.
At Carapal Ridge-3, Touchstone completed testing of the Karamat reservoir interval. Four-day testing recorded average gas rates of 5.0 million cubic feet per day on a 60% open choke and 6.8 million cubic feet per day on an 80% open choke.
The well produced minimal condensate, with no formation water observed. It has been connected to the Central block gas processing facility for sales through Atlantic LNG under the Train 4 sales agreement.
Further testing is continuing to assess well performance and establish sustainable production rates.
Touchstone is also planning a workover at Baraka-1 to assess a lower Herrera reservoir interval.
At the Cascadura field, compressor availability reached approximately 98% in September. Average gross natural gas production increased from 9.7 million cubic feet per day in July to 13.0 million cubic feet per day in September.
Three production optimisation workovers are planned before the end of 2026. These will include work at Cascadura-3ST1, an oil zone recompletion at Cascadura-5 and a workover at Cascadura Deep-1.
Touchstone reported third-quarter 2026 sales averaging 4,485 barrels of oil equivalent per day, comprising approximately 19.4 million cubic feet of natural gas per day and 1,259 barrels of oil and liquids per day.
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.
