Touchstone Exploration (LSE:TXP) has brought the Carapal Ridge 3 well into production at its Central block operations in Trinidad, increasing gross gas throughput at the processing facility from around 16 MMcf/d at the time of acquisition to approximately 21.5 MMcf/d. The company also reported average net sales of 4,778 barrels of oil equivalent per day (boe/d) across January and February. Management said the new well supports its strategy of utilising existing processing capacity more efficiently while directing a greater share of production toward higher-value LNG-linked gas contracts. At the same time, the company’s legacy oil blocks continue to deliver steady, low-risk growth supported by proceeds from last year’s divestment of non-core assets.
Touchstone also provided an update on its Cascadura gas field, where a booster compressor has completed testing in Houston and is currently being transported for installation and commissioning. The equipment is expected to reduce pipeline backpressure and help stabilise production levels. On the oil side of the portfolio, the company drilled the FR-1835 well on the WD-8 block ahead of schedule, identifying approximately 290 feet of net pay. A second well in the four-well programme has already been spudded, with additional drilling planned on the WD-4 block as the company continues to develop both its gas and oil assets in Trinidad.
More about Touchstone Exploration
Touchstone Exploration is a Calgary-based oil and gas company focused on the acquisition, development and operation of onshore petroleum and natural gas assets in Trinidad and Tobago. The group generates revenue from the production of natural gas, condensate and crude oil, and its shares are listed on both the Toronto Stock Exchange and London’s AIM market under the ticker TXP.
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