Touchstone (LSE:TXP) recorded average production of 4,657 barrels of oil equivalent per day during the first quarter of 2026, representing an 8% increase compared with the same period a year earlier. Growth from the company’s Central field helped offset declining production from older assets within its portfolio.
Improved commodity pricing also supported performance during the quarter, with stronger crude oil and natural gas prices driving sales revenue to $12.5 million. Operating netbacks increased to $13.73 per boe, reflecting improved cash generation across the business.
The company continued to direct investment toward development activities, including compression infrastructure at the Cascadura project and drilling work on the new WD-8 oil wells. However, despite the operational improvements, Touchstone reported a net loss of $2.4 million for the quarter and ended the period with net debt totalling $76.1 million.
Management also highlighted material uncertainty surrounding the company’s ability to continue as a going concern while it works through a broader recapitalisation strategy. Current efforts include discussions around debt restructuring, recovery of outstanding tax balances and potential equity-related financing initiatives intended to strengthen liquidity and support ongoing development plans.
More about Touchstone Exploration Inc.
Touchstone Exploration Inc. is an oil and gas producer headquartered in Calgary with operations focused on Trinidad and Tobago. The company develops crude oil, natural gas and natural gas liquids assets, combining mature legacy oil production with newer gas-focused projects such as the Central field and Cascadura facility, positioning it as an emerging upstream operator in the Caribbean energy sector.
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