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Highlights
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Touchstone Exploration Inc. has reported positive initial findings from its Cascadura-2ST1 and Cascadura-3ST1 wells in Trinidad and Tobago.
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Significant gas presence was confirmed, with wellhead pressures reaching 3,600 psi and 2,665 psi, respectively; gas production is expected to commence by the end of October.
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The Cascadura-3ST1 well also yielded crude oil, with initial production rates of 300 to 400 barrels per day, despite some flow challenges.
Touchstone Exploration Inc. Updates on Cascadura Wells
Touchstone Exploration Inc.{OTC:PBEGF} has announced encouraging initial results from its new wells at the Cascadura field, located on the Ortoire block in Trinidad and Tobago. The company successfully completed both the Cascadura-2ST1 and Cascadura-3ST1 wells, with significant gas presence observed. Specifically, the wellhead pressure reached 3,600 psi for Cascadura-2ST1 and 2,665 psi for Cascadura-3ST1. Touchstone is currently working to finalize the connection to the field's gas-processing facilities, with gas production expected to begin before the end of October.
In addition to gas findings, the Cascadura-3ST1 well produced crude oil during testing in the lower Herrera Formation, achieving initial rates of 300 to 400 barrels per day of 25-degree API crude. However, subsequent flow was impacted by the presence of water and mud.
Paul Baay, the company’s chief executive, expressed optimism regarding the test results, highlighting the promising nature of the Cascadura-2ST1 well, which mirrored previous findings from the Cascadura-1ST1 well. He emphasized the urgency to connect the well to the completed pipeline and commence testing operations.
The company is also making significant infrastructure enhancements at the Cascadura field, including the installation of a flowline and test separator. These upgrades are expected to facilitate faster production timelines from the Cascadura wells.
Touchstone has reported remarkable growth in its Balata East field, achieving a nearly 300% increase in production since acquiring the field in June 2024, attributed to targeted workover and optimization efforts. As operations progress, Touchstone remains committed to keeping stakeholders informed about further developments.
