Canada-based Touchstone Exploration aims to significantly increase its production in Trinidad & Tobago, targeting approximately 20,000 barrels of oil equivalent per day (boepd). This goal represents a near-quadrupling from its current output of about 5,500 boepd, which consists of 1,200 barrels of oil per day and 35 million cubic feet per day of natural gas.

Growth Strategy and Key Acquisitions

The company's growth strategy has been built on acquisitions and organic development since entering Trinidad in 2010. A pivotal moment was the mid-2025 purchase of Shell's onshore assets for $28.4 million, which nearly doubled the company's size. This deal granted Touchstone access to the Central Block, consolidating its position as the largest independent onshore producer in the country.

Central Block Development

Touchstone is executing a four-well program in the Central Block, with drilling expected to continue through mid-2027. The first well, Carapal Ridge-3, was successfully tied into production in March, flowing at 5.7 million cubic feet per day (MMcfd) and raising total field output to 21.5 MMcfd. The company's goal is to increase Central Block production to 40 MMcfd. The drilling sequence may be adjusted, with a potential hydraulic fracturing operation at an existing well after the third well is drilled instead of proceeding immediately to a fourth probe.

Cascadura Field and Other Assets

Concurrently, the company is developing its main producing asset, the Cascadura field in the Ortoire Block. To enhance production rates and operational stability, a booster compressor has been acquired, with installation and commissioning targeted for May. Touchstone is also analyzing exploration opportunities on other blocks it holds, such as Rio Claro, Cipero, and Charuma.

Market Position and Future Focus

Touchstone's extensive acquisitions have given it a dominant onshore position, owning all the gas plants and leaving few sizeable opportunities for competitors. The company's immediate focus is on executing its drilling plans at Cascadura and the Central Block. While not currently venturing offshore, its next significant technical step could involve drilling an onshore exploration prospect to depths of about 15,000 feet to assess Cretaceous-aged reservoirs.