Touchstone Exploration has entered the second half of 2026 with a combination of stronger financial results and several operational initiatives moving towards important execution points across its Trinidad portfolio.
The company reported second-quarter pre-tax profit of US$4.0 million, compared with US$1.4 million in the same period last year. Revenue increased to US$13.2 million from US$8.4 million, while petroleum and natural gas sales rose to US$17.5 million from US$11.0 million.
Touchstone achieved an average realised commodity price of US$43.30 per barrel of oil equivalent during the quarter, compared with US$27.50 a year earlier. Realised natural gas pricing was particularly supportive, rising to US$4.93 per thousand cubic feet.
Production averaged 4,433 barrels of oil equivalent per day, slightly ahead of the 4,399 barrels reported a year earlier but below the 4,657 barrels achieved in the first quarter. The sequential decline reflected planned third-party infrastructure maintenance at Atlantic LNG, which temporarily constrained natural gas production.
Touchstone’s underlying asset base can benefit materially from stronger pricing and higher gas throughput, but reported production can also be influenced by infrastructure outside the company’s direct control. The return of normal infrastructure availability therefore remains relevant to the timing of production delivery.
At Cascadura, the commissioning of the booster compressor provides another potential source of operational support. The compressor was commissioned in late June and entered service on 9 July. Field-estimated gross natural gas production subsequently averaged approximately 16.5 million cubic feet per day, despite wells remaining choke restricted while reservoir pressures were gradually reduced.
Further optimisation work is also progressing. The Baraka East-1, or BRE-1, gas and liquids recompletion was completed in June and delivered field-estimated gross production of approximately 2.3 million cubic feet of natural gas per day and 72 barrels of liquids per day during its first 30 days online.
Attention is now shifting towards Carapal Ridge-3. Touchstone has designed a coiled tubing cleanout and acid stimulation programme to address a localised inflow restriction at the well. Earlier mechanical issues affecting the service provider’s coiled tubing unit have been resolved, with function testing under way ahead of a workover scheduled for late August.
The company is also preparing for further activity on the WD-8 block, including construction of a drilling lease at Baraka for its next development well.
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.
