Touchstone Exploration is getting some news coverage in Trinidad
Another article on the resumption of development drilling on the Central Block appeared in Trinidad in the Daily Express yesterday.
trinidadexpress.com
A couple of notable points in this article :
1. Trinidad could use additional natural gas production to help fill their current infrastructure capacity
“A mid-tier independent, Touchstone Exploration, was confident enough to acquire this asset from Shell and shortly after embark on a multi-well programme. This suggests that even as global energy portfolios shift and majors rebalance toward larger offshore opportunities, onshore gas economics in T&T remain attractive. The country’s strong technical base, established infrastructure, and experienced service sector continue to offer a compelling environment for the right kind of upstream investment,” he said via e-mail.
He noted that the resumption of drilling in the Central Block represents a small-volume but strategically important development for our upstream sector.
“For several years, our main challenge has been insufficient and unstable gas supply, especially for downstream producers. This chronic shortage has contributed to intermittent shutdowns of Point Lisas plants—a key reason the estate continues to operate much below optimal capacity. The effect has been significant: lost production, lower export revenues, reduced foreign exchange inflows, and a gradual erosion of competitiveness in one of the economy’s most important industrial hubs. Against this backdrop, any additional molecule of gas matters,” said Arjoon.
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2. It sounds like the recently elected government may have some ideas on how to incentivise and accelerate exploration and development of its energy sector, particularily its onshore operations.
“Given that onshore and mature fields operate with a different cost structure from offshore and deepwater areas, there is also room for a more agile fiscal framework. Measures such as accelerated capital allowances or simplified SPT thresholds, designed specifically for onshore activity, could incentivise further investment without significantly reducing the state’s revenue take. Such targeted fiscal reform would encourage more companies to follow Touchstone’s model of efficient development drilling, while ensuring that T&T remains competitive in attracting upstream capital,” Arjoon added.
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I'm hearing that drilling is progressing very well at Carapal Ridge 3 on the Central Block, that was spudded on November 23 . Also heard that target depth is approximately 8500 feet. If there are no issues encountered, then the well should reach total depth sometime prior to Christmas. Tie-in work would probably start after the Christmas/Old Year's Night holidays. If it's similar to the tie-in time period that Cascadura 5 required, that would approximately be another 20 days. It's quite possible that the CR-3 well could be in production by February 1, 2026.
Remains to be seen. The compnay definitely needs to show some success with execution, delivering new wells on time and on budget to start regaining some market confidence. |
