Touchstone Exploration Inc.: Q4 and Year-End Financial Results
Calgary, AB, March 20, 2025 – Touchstone Exploration Inc. (Touchstone or the Company), a Calgary-based oil and gas exploration and production company with operations in the Republic of Trinidad and Tobago, has announced its operating and condensed financial results for the three months and year ended December 31, 2024. Below are the highlights of the financial data, which should be read in conjunction with the Company’s audited consolidated financial statements and Management’s discussion and analysis.
Financial Highlights
Fourth Quarter 2024:
- Total revenues: $15.8 million
- Operating netback: $12.3 million
- Net loss: $2.5 million
Year Ended December 31, 2024:
- Total revenues: $71.5 million
- Operating netback: $49.6 million
- Net loss: $12.3 million
Operational Highlights
Touchstone’s operational highlights for the year ended December 31, 2024, include:
- Average daily production: 2,270 boe/d (barrels of oil equivalent per day)
- Capital expenditures: $26.3 million
- Drilled and completed Ortoire-1X well, which encountered 12.3 meters of net pay
Impact on Individuals
The financial results of Touchstone Exploration Inc. may have indirect impacts on individuals, depending on their involvement or connection to the company or the oil and gas industry. For shareholders, the net loss reported in the fourth quarter and year-end may negatively affect the value of their investments. However, the Company’s discovery of significant net pay in the Ortoire-1X well could potentially lead to future growth and profitability, which might positively impact shareholder value. Additionally, the capital expenditures made by Touchstone contribute to the local economy of Trinidad and Tobago, where the company operates, by providing jobs and generating revenue.
Impact on the World
On a global scale, the oil and gas industry plays a significant role in powering the world’s economy. The financial results of Touchstone Exploration Inc. are a small part of this larger picture. The Company’s net loss reported in the fourth quarter and year-end may not have a noticeable impact on global energy prices. However, the discovery of the Ortoire-1X well and the potential for future growth could contribute to the overall supply of oil and gas, which might influence global energy markets. Additionally, the capital expenditures made by Touchstone help support the energy sector, which is crucial for powering industries and economies around the world.
Conclusion
Touchstone Exploration Inc.’s financial results for the three months and year ended December 31, 2024, showcase the company’s operational achievements and financial performance. The net loss reported in the fourth quarter and year-end may affect shareholders and the local economy, while the discovery of the Ortoire-1X well and the capital expenditures made by the Company could lead to future growth and contribute to the global energy market. As the Company continues to explore and develop its assets, investors and stakeholders will closely monitor its financial performance and operational progress.
