Business
Touchstone Provides Cascadura Production Update
CALGARY, AB / ACCESSWIRE / September 18, 2023 / Touchstone Exploration Inc. ("Touchstone", "we",...
About this update from Touchstone Exploration Inc
[{"type":"text","content":"Touchstone Provides Cascadura Production Update CALGARY, AB / ACCESSWIRE / September 18, 2023 / Touchstone Exploration Inc. (\"Touchstone\", \"we\", \"our\", \"us\" or the \"Company\") (TSX:TXP)(LSE:TXP) is pleased to provide an update regarding natural gas and liquids production volumes from the recently commissioned Cascadura facility. Touchstone has an 80 percent operating working interest in the Cascadura field, which is located on the Ortoire block onshore in the Republic of Trinidad and Tobago. Heritage Petroleum Company Limited holds the remaining 20 percent working interest.Touchstone achieved its forecasted Cascadura gross natural gas production rate of 60 million cubic feet per day (\"MMcf/d\") on September 15, 2023. The Cascadura-1ST1 well is currently contributing approximately 40 MMcf/d while the Cascadura Deep-1 well is contributing approximately 20 MMcf/d of gross natural gas volumes. In addition, the wells are currently producing an aggregate 1,400 barrels per day of field estimated gross natural gas liquids volumes.Paul Baay, President and Chief Executive Officer, commented:\"I am very pleased that we have reached our gross target rate of 60 MMcf/d at Cascadura after our first week of operations. The performance of the wells, both of which are being choked at surface, is in line with expectations and the surface facility is currently operating at approximately 67 percent of its capacity.\"Touchstone Exploration Inc.Touchstone Exploration Inc. is a Calgary, Alberta based company engaged in the business of acquiring interests in petroleum and natural gas rights and the exploration, development, production and sale of petroleum and natural gas. Touchstone is currently active in onshore properties located in the Republic of Trinidad and Tobago. The Company's common shares are traded on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol \"TXP\".For further information about Touchstone, please visit our website at www.touchstoneexploration.com or contact:Touchstone Exploration Inc.Paul Baay, President and Chief Executive OfficerJames Shipka, Chief Operating OfficerTelephone: 403.750.4487Legal Advisory Regarding Forward-Looking StatementsCertain information provided in this news release may constitute forward-looking statements and information (collectively, \"forward-looking st...