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Touchstone Exploration has recently published its latest operational and drilling update, showing that production increased by 21 per cent in the first quarter of 2018, compared to the same period a year earlier.

This meant that the organisation was producing an average of 1,543 barrels per day between January and March this year, while in April this year average production hit 1,669 barrels per day.

New wells in Trinidad and Tobago have helped the organisation boost its production, with the first five wells of its 2018 program drilled and cased so far. Of these, two have been completed and are currently producing oil.

Two wells have been drilled in the Forest Reserve WD-8 block, while a further two were also drilled in the company’s Coora 2 Block.

It added that it is also preparing two locations in the Coora 1 Block for drilling in the coming weeks, with the two new wells situated in follow-up locations for its successful CO-368 and CO-369 wells which were drilled last year.

President and chief executive officer at Touchstone Paul Baay commented: “We are excited to see the stabilised production results from these wells as we accelerate to our target of 2,000 barrels per day.”

Earlier this month, Energy Voice reported that the energy industry is planning to drill 16 high-impact wells in the UK and Norway this year, with the aim of producing 3.7 million barrels of oil equivalent from these sources.

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