Touchstone Exploration (LSE:TXP) has increased oil production from its WD-8 block in Trinidad following the successful start-up of the FR-1835 and FR-1836 development wells during mid-May. The two wells are currently producing a combined 175 barrels per day of medium crude oil, providing an immediate boost to production and operating cash flow.
The development activity was financed through a previously completed asset swap transaction, allowing the company to expand production while maintaining a disciplined capital allocation approach.
Cascadura Upgrades and Gas Strategy Advance
Alongside the new oil production, Touchstone is progressing infrastructure improvements at its Cascadura gas facility, including the installation of a booster compressor designed to improve operational efficiency and reduce bottlenecks within the system.
The company is also preparing a stimulation programme at the Carapal Ridge 3 well as part of wider efforts to optimise gas output and accelerate reserve monetisation.
Management said the business is expected to benefit from stronger gas pricing in the near term as gas volumes from the Central block are redirected during maintenance work affecting Atlantic LNG operations. The temporary market conditions are anticipated to improve gas realizations and support stronger revenue generation.
Operational Improvements Support Growth Strategy
Touchstone said its current operational focus remains centred on high-return investment opportunities and improving production reliability across its Trinidad portfolio. By enhancing infrastructure at Cascadura and taking advantage of shifting gas market dynamics during the Train 4 maintenance outage, the company aims to strengthen its financial performance and competitive position among Caribbean-focused exploration and production operators.
More about Touchstone Exploration
Touchstone Exploration Inc. is a Calgary-based oil and gas company focused on acquiring, exploring, developing and producing petroleum and natural gas assets. The group operates exclusively onshore in Trinidad and Tobago, with its shares listed on the Toronto Stock Exchange and London Stock Exchange under the symbol TXP, giving it access to both North American and U.K. capital markets.
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