Touchstone reports strong flows from recent find
Canadian junior Touchstone Exploration reported on April 12 it had test-flowed the Cascadura Deep-1 onshore Trinidad and Tobago, confirming a liquids-rich gas discovery.
Touchstone said in December that the well at the Ortoire exploration block had encountered "significant hydrocarbon accumulations." It has now undertaken flow tests, achieving a rate of 4,262 barrels of oil equivalent/day in a 24-hour period, including 22.9mn ft3/day of gas and 449 barrels/day of natural gas liquids.
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Touchstone operates Ortoire with a 80% interest, while local state-owned partner Heritage Petroleum has 20%. It made its first gas discovery at the site in September 2019 after drilling the Coho-1 well, followed by a second at the Cascadura-1ST1 well in February last year and a third at the Chinook-1 well in October.
Cascadura Deep-1 is now shut in so that an extended pressure build-up survey lasting at least four weeks can get underway to identify possible formation boundaries, Touchstone said. The company plans to launch production at Cascadura Deep-1 and Cascadura-1ST1 simultaneously.
"The positive test results from Cascadura Deep-1 further expands the opportunity on the Ortoire block as we now expect to have two distinct and separate sheets producing from two wells in the Cascadura structure," CEO Paul Baay commented. "We will accelerate operations required to bring the two Cascadura wells onto production as the test results allow us to properly size surface facilities for reservoir management."
Touchstone is also applying to establish a second Cascadura surface location, to host up to four development wells. "The test results demonstrate the clear future production opportunities for the company," Baay said.