Touchstone Exploration has provided an operational update on its Central Block asset, located onshore in the Republic of Trinidad and Tobago.
The Central Block asset comprises four producing natural gas wells and a gas processing facility.
For the first quarter of 2025, gross production volumes from the Central Block averaged 2,969 barrels of oil equivalent per day (boepd) (1,930boepd net), with approximately 16.74 million cubic feet per day (mcf/d) of natural gas and 179 barrels per day (bpd) of natural gas liquids (NGLs).
Preliminary estimates for the second quarter of 2025 show an average gross production of 3,023boepd (1,965boepd net), consisting of around 17.05mcf/d of natural gas and 181bpd of NGLs.
In December 2024, Touchstone announced an agreement to acquire the share capital of Shell Trinidad Central Block from BG Overseas Holdings for a cash consideration of $23m (C$32.76m).
On 16 May 2025, Touchstone completed the acquisition of Shell Trinidad Central Block through the former's wholly owned Trinidadian subsidiary. The block has now been renamed to Touchstone Trinidad Central Block.
This entity holds a 65% operating interest in the onshore Central Block exploration and production licence, with Heritage Petroleum Company holding the remaining 35% participating interest.
The financial and operational results from the acquired entity have been consolidated into Touchstone's financial statements since the acquisition date.
Natural gas from the Central Block is sold under two contracts: one linked to LNG export pricing and another to domestic market pricing.
From January to April 2025, 11 LNG liftings, including associated liquids, were completed, totalling 2,207,696 million British thermal units (mbtu).
Additionally, 11,065mbtu was sold into the domestic market, generating gross revenue of $13.6m ($8.9m net). After transportation and processing costs, gross revenue totalled $8.9m ($5.8m net).
The Central Block also generated $1m in gross revenues ($0.65m net) from condensate sales, resulting in total gross revenue of $9.9m ($6.4m net) for the period. The entire sales volume is subject to a 12.5% state royalty and applicable plant operating costs.
Furthermore, Touchstone finalised site surveys for two new well pads, each supporting up to four drilling sites, and is currently awaiting government construction approvals.
