Touchstone Exploration’s 2024 Year-End Reserves: A Breakdown
Calgary, Alberta – In an exciting announcement on March 6, 2025, Touchstone Exploration Inc. (“Touchstone” or the “Company”) revealed its 2024 year-end reserves. The reserves were evaluated by GLJ Ltd., an independent consulting firm. Let’s delve deeper into this news and understand its potential impact.
Company Highlights
Touchstone is a Calgary-based oil and gas exploration and production company, listed on both the Toronto Stock Exchange (TSX) and the London Stock Exchange (LSE) under the symbol TXP. The Company focuses on the exploration, development, production, and acquisition of petroleum resources in the Republic of Trinidad and Tobago.
Reserve Report
According to the reserve report, Touchstone’s proved plus probable reserves increased by 17% compared to the previous year. Proved reserves grew by 12% to 19.5 million barrels of oil equivalent (BOE), while probable reserves swelled by 25% to 66.4 million BOE. The Company’s total reserves now stand at 85.9 million BOE.
Impact on Shareholders
For shareholders, this news is undoubtedly encouraging. A larger reserve base signals a stronger financial position for the Company. With more reserves, Touchstone can expect increased production and cash flow in the future. Moreover, the Company’s improved financial situation may lead to potential growth opportunities, such as acquisitions or new projects.
Impact on the Global Energy Market
On a larger scale, Touchstone’s reserve growth could have a ripple effect on the global energy market. The oil and gas industry continues to face challenges such as increasing demand for renewable energy and geopolitical instability. However, discoveries and expansions of conventional oil and gas reserves can help alleviate some of these concerns. Touchstone’s reserves contribute to the overall supply of oil and gas, which can impact global prices and market stability.
Conclusion
Touchstone Exploration’s 2024 year-end reserves report is a positive sign for the Company and its shareholders. The increased reserves indicate a stronger financial position and potential for growth. On a global scale, the Company’s reserves contribute to the overall oil and gas supply, which can impact market dynamics. As we move forward, it will be interesting to see how Touchstone utilizes its reserves to drive growth and adapt to the evolving energy landscape.
- Touchstone Exploration Inc. announces a 17% increase in reserves in 2024.
- Proved reserves grew by 12%, and probable reserves grew by 25%.
- The Company’s total reserves now stand at 85.9 million BOE.
- Shareholders benefit from a stronger financial position and potential growth opportunities.
- Touchstone’s reserves contribute to the global oil and gas supply, impacting market stability.
