- NEWSDAY.CO.TT - A la Une - 14/Jul 19:22

Touchstone reports increased production in Central Block

Touchstone Exploration (Trinidad) has announced that gross production volumes from the Central Block, a producing conventional onshore gas field located in TT, has increased. In an Energy Now report from the TT Energy Chamber, the oil and gas company said, through an operational update, that production volumes from Central block averaged 2,969 barrels of oil equivalent per day (boe/d) (1,930 boe/d net) during the first quarter of 2025. The production for the quarter comprised of 16.74 million cubic feet per day (mmcf/d) of natural gas and 179 bbls/d of natural gas liquids. Based on preliminary field estimates, the company said the second quarter of 2025 had an average gross production of 3,023 boe/d (1,965 boe/d net), comprised of approximately 17.05 MMcf/d of natural gas and 181 bbls/d of NGLs. Touchstone, through its wholly owned TT subsidiary, recently completed a 100 per cent acquisition of the share capital of Shell Trinidad Central Block Ltd. The acquired entity, now renamed Touchstone Trinidad Central Block Ltd, holds a 65 per cent operating interest in the onshore Central Block exploration and production licence. Heritage Petroleum Company Ltd holds the remaining 35 per cent participating interest. The Central Block asset includes four producing natural gas wells and a gas processing facility. The Energy Now report said Touchstone completed 11 LNG liftings (artificial methods to bring oil and gas to the surface), resulting in the production of 2,207,696 mmbtu. An additional 11,065 mmbtu was sold into the domestic market. The volumes generated a gross revenue of $13 million. After transportation and processing costs, the revenue totalled $8.9 million. Central Block also generated $1 million in gross revenues from condensate sales at the facility, resulting in a gross revenue of $9.9 million for the quarter. All sales volumes are subject to a 12.5 per cent state royalty and applicable plant operating costs. Paul Baay, president and CEO of Touchstone Exploration said, "We are pleased to provide our first operational update on the Central Block following the successful completion of the acquisition. "Since the completion, we have delivered quarter-over-quarter production growth through continued plant optimisation." He added that the block's strong performance supports the company's acquisition rationale and enhances its market flexibility – diversifying revenue streams across LNG, petrochemical and fixed-price gas sales. The post Touchstone reports increased production in Central Block appeared first on Trinidad and Tobago Newsday.