(via NewsDirect)
In an interview with Proactive's Stephen Gunnion, Baay said key 2023 achievements included the completion of facilities and commissioning of production, and the initiation of the 2024 drilling program. The company also secured new bank financing with a
The fourth quarter saw remarkable growth with a 150% increase in production, averaging 8,500 barrels of oil equivalent per day (BOE/D), thanks to full quarter production from the Coho and Cascadura fields. This resulted in a
Looking forward to 2024, Touchstone has commenced its drilling program, encountering promising sands at Cascadura and advancing other projects across their portfolio. The company aims for an average production of 9,400 BOE/D, targeting an end-of-year rate of 14,000 BOE/D.
Baay expressed confidence in achieving these targets, underpinned by financial flexibility from expanded banking facilities and a strategic focus on high net-back wells and capacity expansion.
Contact Details
+44 20 7989 0813
uk@proactiveinvestors.com
Copyright (c) 2024 TheNewswire - All rights reserved.
Copyright (c) 2024 TheNewswire - All rights reserved., source