Touchstone Exploration Inc. has successfully reached its target production rate at the Cascadura project within a week of the project coming online. The company announced that it achieved its forecasted Cascadura gross natural gas production rate of 60 million cubic feet per day (MMcf/d) on September 15.
Touchstone Exploration noted that the Cascadura-1ST1 well is currently contributing approximately 40 MMcf/d, while the Cascadura Deep-1 well is contributing approximately 20 MMcf/d. Together, these two wells are also producing 1,400 barrels of natural gas liquids per day.
Touchstone delivers first gas from Cascadura project in Trinidad | OilNOW
“The performance of the wells, both of which are being choked at the surface, is in line with expectations, and the surface facility is currently operating at approximately 67% of its capacity,” said Touchstone Exploration’s Chief Executive, Paul Baay.
Cascadura is considered the company’s primary growth driver since it came online, marking a significant shift toward a majority natural gas weighted production company. The company expects cashflows from its gas sales agreement to deliver a significantly increased and predictable cashflow stream, which Touchstone intends to reinvest in the future development of its Trinidad asset base.
The initial goal had been to ramp up production to a rate of 10,000 barrels oil equivalent per day (boepd).
Cascadura represents the second and largest development to date in the company’s 80%-owned Ortoire block, where Touchstone Exploration retains multiple defined development prospects and a pipeline of long-term exploration opportunities.
