Canadian company Touchstone Exploration Inc announced earlier this month that it has very encouraging results from its latest round of testing for natural gas at the onshore Cascadura-1ST1 reservoir in the Republic of Trinidad and Tobago.
Located in the company’s Ortoire exploration block, the Cascadura Assessment Area exploration and drilling project is a joint venture between Touchtone Exploration and Trinidad-based Heritage Petroleum. The former company owns 80 per cent of the venture and is the project’s operator, while the latter has a 20 per cent stake.
Following testing by GLJ Ltd, Touchstone Exploration revealed that the gas analysis from the reservoir indicated sweet, liquids-rich natural gas with no hydrogen sulfide and no entrained water.
“We are delighted to report that the independent reserves report verifies the material size of the reserves yet to be produced in the Cascadura structure and provides the groundwork for a multi-year future onshore development programme in Trinidad,” Paul R Baay, president and chief executive officer, commented in a release from the company headquartered in Calgary, Alberta.
“Through the excellent work of the Touchstone team in the drilling of our first two exploration wells, we have successfully proven up the hydrocarbon-bearing turbidite model in Ortoire. This model will be further evaluated by our next two exploration targets at Chinook and Cascadura deep, with drilling at Chinook on track to commence within the next few weeks,” he continued.
According to the company’s Cascadura Reserves Report, the company can expect an initial gross production rate of between 7,750 and 9,700 barrels of oil equivalent per day (6,200 to 7,760 boe/d net).
Based on the data obtained during initial tests, the Cascadura-1ST1 reservoir appeared to possess a larger-than-expected pool of natural gas.
“We could not have envisioned a better start from the first two wells of the Ortoire exploration programme, and we look forward to updating the market and our Trinidad stakeholders as we progress with our Ortoire exploration and development activities in the coming months,” James Shipka, Touchstone Exploration’s chief operations officer, said at the time of the discovery.
The company’s COO, therefore, indicated that given the potential size and production capacity of the reservoir, “we will likely require additional drilling and production at Cascadura, to fully understand and optimise production from the structure”.