Touchstone reports avg. net sales volumes of 7,015 boe/d in Q1 2024

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OilNOW
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Trinidad-focused energy company Touchstone Exploration reported average net sales volumes of 7,015 barrels of oil-equivalent per day (boe/d) in the first quarter of 2024. 

It said Cascadura contributed average net sales volumes of 5,389 boe/d. This consists of net natural gas sales volumes of 30.8 million cubic feet per day (MMcf/d) or 5,127 boe/d with an average realized price of US$2.49 per Mcf; and net natural gas liquids volumes of 262 b/d with an average realized price of US$69.60 per barrel. 

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As for the Coho field, net average natural gas sales volumes were 2.8 MMcf/d or 460 boe/d at an average realized price of US$2.28 per Mcf (excluding third-party processing fees). Average net daily crude oil sales volumes were 1,166 b/d with an average realized price of US$69.97 per barrel.

Touchstone’s operational highlights are as follows:

  • The Cascadura-3ST1 delineation well was drilled to a total depth of 8,252 feet, and openhole logs and drilling data indicated a total sand thickness of approximately 900 feet in the targeted Herrera Formation. 
  • The Cascadura-3ST1 well has been cased and production testing is scheduled to commence in the third quarter of 2024 directly into the Cascadura natural gas facility. 
  • The construction for the flowline from the Cascadura C surface location to the Cascadura natural gas processing facility is progressing, with anticipated completion in the third quarter of 2024. 
  • The hazard and operability analysis (HAZOP) and engineering designs for the expansion of the Cascadura facility have been approved, and procurement for the expansion has commenced. 
  • The CO-374 development well on our CO-1 block was drilled to a total depth of 5,684 feet, with openhole logs and drilling data indicating a sand thickness of approximately 400 feet in the Forest Formation and approximately 300 feet in the Cruse Formation.  
  • The CO-374 well has been cased for crude oil production and will be completed once the CO-375 development well has been drilled and the rig is moved from the location. 
  • The CO-375 development well was spud on April 3, 2024 and is targeted to be drilled to a total depth of 6,500 feet. 

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Paul Baay, President and Chief Executive Officer, said: “We are pleased with the successful results from the two delineation wells at Cascadura, with both wells demonstrating the quality and scale of the structure. In addition, the Cascadura-3ST1 well is the first to cross the C-fault to the east side of the structure, an area where reserves have not been previously assigned. The CO-374 development well is also noteworthy, as it has the highest net pay we have observed to date on our crude oil legacy blocks.”

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