Touchstone Exploration Reports 2024 Year-End Reserves with Strategic Developments in Trinidad

An update from Touchstone Exploration ( (TSE:TXP) ) is now available.

Touchstone Exploration Inc. announced its 2024 year-end reserves, highlighting significant potential in its Trinidad asset base. The company’s reserves report, prepared by GLJ Ltd., shows a decrease in net present value of future net revenues for both 1P and 2P reserves compared to the previous year, reflecting technical revisions and increased production. Key developments include the successful completion of the Cascadura C pipeline and facility expansion, which supports future production growth, and the acquisition of Shell Trinidad Central Block Limited, which grants access to the Trinidad liquefied natural gas market. Despite reductions in reserves, Touchstone maintains a strong reserve life index, positioning it for efficient future development.

More about Touchstone Exploration

Touchstone Exploration Inc. operates in the oil and gas industry, focusing on crude oil and natural gas exploration and production. The company is primarily active in Trinidad, where it is transitioning from an exploration-driven entity to one emphasizing predictable production growth.

YTD Price Performance: -10.91%

Average Trading Volume: 24,121

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $65.25M

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