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Highlight
- Touchstone Exploration reported positive results from its Cascadura field in Trinidad and Tobago, with significant gas presence and plans to start production by late October 2024.
- Both Cascadura-2ST1 and Cascadura-3ST1 wells showed promising pressure metrics and are being connected to the gas-processing infrastructure for upcoming natural gas production.
- In addition to gas, the Cascadura-3ST1 well also revealed oil, highlighting the potential for future liquids production within the Ortoire block.
Touchstone Exploration Inc, a Calgary-based company engaged in Oil & Gas Sector, development, and production, has shared positive initial results from its Cascadura field operations in the Republic of Trinidad and Tobago. The company is currently active in onshore properties, with its focus on the Ortoire block, where it has completed two key wells, Cascadura-2ST1 and Cascadura-3ST1.
Touchstone Exploration Inc (TSX: TXP) reported successful completion of the wells, with substantial gas presence observed during the testing phase. Wellhead pressure at Cascadura-2ST1 reached high levels after perforation in the Herrera Formation, while Cascadura-3ST1 also showed promising pressure metrics. Both wells are now being connected to the field’s gas-processing infrastructure. The company is aiming to begin natural gas production from these wells by late October 2024, following the completion of this connection.
In addition to natural gas, the Cascadura-3ST1 well yielded crude oil during tests conducted in the lower Herrera Formation. Initial production rates showed moderate volumes of crude oil, but the flow was impacted by the presence of water and mud. Despite this, the discovery of oil highlights the potential for future liquids production within the Ortoire block, adding another dimension to the field’s development.
Chief executive Paul Baay expressed optimism about the results, drawing parallels between the current findings and previous well tests in the Cascadura field. He emphasized the importance of connecting the wells to the pipeline infrastructure quickly to enable testing at the company’s facility and highlighted the potential for further liquids production. Baay also noted that Touchstone is working to establish critical infrastructure at Cascadura to expedite the development of future wells and reduce the time between drilling and production.
In its latest update, Touchstone also outlined ongoing infrastructure improvements, such as the installation of a flowline and test separator at the Cascadura field. These upgrades are designed to accelerate gas production, which is set to commence soon. Additionally, at the Balata East field, the company has seen a remarkable increase in production following a targeted workover and optimization program, reflecting strong operational progress across multiple sites.
Touchstone’s ongoing initiatives point toward continued growth, with plans in place to expand production and streamline its development processes in the Trinidad and Tobago region.
