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Touchstone Exploration Announces First Quarter 2025 Financial And Operating Results
CALGARY, AB / ACCESS Newswire / May 13, 2025 / Touchstone Exploration Inc. ("Touchstone", "we"...
About this update from Touchstone Exploration Inc
[{"type":"text","content":"Touchstone Exploration Announces First Quarter 2025 Financial And Operating ResultsCALGARY, AB / ACCESS Newswire / May 13, 2025 / Touchstone Exploration Inc. (\"Touchstone\", \"we\", \"our\" or the \"Company\") (TSX:TXP)(LSE:TXP) reports its operating and condensed financial results for the three months ended March 31, 2025.Selected financial information is outlined below and should be read in conjunction with our March 31, 2025 unaudited interim condensed consolidated financial statements and related Management's discussion and analysis, both of which are available online under our profile on SEDAR+ (www.sedarplus.ca) and on our website (www.touchstoneexploration.com). Unless otherwise stated, all financial amounts presented herein are in United States dollars, and all production volumes disclosed herein are sales volumes based on Company working interest before royalty burdens.First Quarter 2025 Financial and Operating HighlightsProduction: Average quarterly production decreased to 4,317 boe/d (72 percent natural gas), compared to 5,287 boe/d (73 percent natural gas) in the fourth quarter of 2024 and 7,015 boe/d (80 percent natural gas) in the first quarter of 2024. The decrease was primarily driven by natural declines in natural gas and liquids production from the Cascadura-1ST1 and Cascadura Deep-1 wells, partially offset by incremental volumes from the Cascadura-2ST1 and Cascadura-3ST1 wells which began production in November 2024.Revenue: Petroleum and natural gas sales totaled $11.11 million, an 18 percent reduction from the $13.54 million recorded in the previous quarter.Crude oil sales: $6.68 million from average production of 1,162 bbls/d at a realized price of $63.86 per barrel.NGL sales: $0.22 million from average production of 39 bbls/d at a realized price of $64.05 per barrel.Natural gas sales: $4.21 million from average production of 18.7 MMcf/d (3,116 boe/d) at a realized price of $2.50 per Mcf.Operating Netback: Generated $6.15 million in operating netback, an 11 percent decrease from the fourth quarter of 2024, primarily due to decreased petroleum and natural gas sales and related royalties, partially offset by a 38 percent reduction in operating costs, supported in part by revisions to historical crude oil field head licence expenses.Funds Flow from Operations: Decreased to $2.58 million from $3.61 million in ...