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Touchstone Exploration Reports Operational Progress in Trinidad and Tobago

Author:
FAQSIR News Desk
Last Updated:
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Touchstone Exploration Inc. has announced key developments in its operational activities in Trinidad and Tobago. The company has made notable progress with the installation of a booster compressor at its Cascadura facility, with plans for commissioning set for June 2026. Additionally, recent drilling results from the WD-8 block are expected to bolter cash flow amidst favorable crude oil prices.

#Production Growth from New Development Wells

In mid-May 2026, Touchstone successfully completed and initiated production from the FR-1835 and FR-1836 development wells located on the WD-8 block. These wells are collectively yielding an average of approximately 175 barrels of medium-gravity crude oil per day, aligning with the company's expectations. Production optimization efforts are currently underway, aiming to enhance operational efficiency.

#Impact of Atlantic LNG Maintenance

The company’s natural gas operations will benefit from the scheduled maintenance of Atlantic LNG Train 4, which began on May 26 and is expected to last for 54 days. During this time, gas volumes from the Central block are being redirected to Train 2/3 and the domestic market. This strategic move is anticipated to improve Touchstone’s realized natural gas pricing as market conditions remain strong.

#Cascadura Facility Enhancements

At the Cascadura site, mechanical and electrical installations for the new booster compressor are progressing as planned. The completion of this installation is set to enhance production efficiency by reducing wellhead backpressure and addressing regional pipeline capacity challenges. Touchstone is optimistic about the commissioning scheduled for June 2026.

#Optimizing Production at Carapal Ridge 3

Touchstone is preparing for a targeted intervention at its Carapal Ridge 3 (CR-3) well involving a coiled tubing cleanout and acid stimulation. This initiative aims to resolve an inflow restriction that has affected production performance, enabling the well to achieve its full output potential. The execution of this plan is dependent on the availability of local coiled tubing services, which are currently addressing mechanical issues.

#Management's Strategic Outlook

Paul R. Baay, President and CEO, emphasized the company's focus on converting reserves into cash flow efficiently. He highlighted that the successful drilling activities on the WD-8 block were financed through prior asset exchanges, marking a strategic allocation of capital that has resulted in stable near-term cash flows. Touchstone remains committed to disciplined capital management while prioritizing interventions that yield high returns.

#Key Takeaways

  • Touchstone Exploration is progressing with the installation of a booster compressor at its Cascadura facility, set for commissioning in June 2026.
  • The FR-1835 and FR-1836 wells from the WD-8 block are producing approximately 175 barrels of oil per day, meeting production expectations.
  • Gas volumes are being redirected to higher-priced markets during the maintenance of Atlantic LNG Train 4 to enhance realized pricing.
  • A planned intervention at the CR-3 well aims to unlock additional production potential by addressing inflow restrictions.
  • Management prioritizes disciplined capital allocation to optimize production and enhance cash flow amid favorable oil market conditions.

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Frequently Asked Questions

The Cascadura facility's booster compressor installation is proceeding as scheduled, with commissioning expected in June 2026. This enhancement is poised to improve production efficiency and overall facility reliability.
The recent completion of the FR-1835 and FR-1836 development wells has yielded an average production of 175 barrels per day, meeting company expectations and contributing positively to stable cash flows.
The maintenance shutdown of Atlantic LNG Train 4 allows Touchstone to redirect gas volumes to Trains 2/3 and the domestic market, which is anticipated to enhance the company's realised natural gas pricing during this period.
Touchstone is preparing for a coiled tubing cleanout and acid stimulation to maximise production from the CR-3 well, addressing an inflow restriction which could unlock its full productivity.
The company prioritises disciplined capital allocation, aiming to optimise high-return wells and facilities, which reflects a strategic approach to enhance cash flow in the current strong oil pricing environment.
Upcoming activities include the scheduled commissioning of the Cascadura compressor and a targeted well intervention at CR-3, both of which are expected to significantly contribute to production improvements.
By advancing key projects like the Cascadura facility upgrades and optimising production flow from the new development wells, Touchstone is reinforcing its commitment to reliable production management.
The company’s focus on converting reserves into cash flow, alongside successful drilling and strategic asset management, suggests a positive outlook for financial performance in the near term.