Touchstone Exploration Inc (AIM:TXP, TSX:TXP, OTC:PBEGF) told investors it is on track to complete on schedule its expansion of the Cascadura gas facility and the construction of its associated infrastructure.
The company, in a statement, added that initial production from the Cascadura-2ST1 and Cascadura-3ST1 wells is targeted for the end of September.
Currently, in the field, average net production is continuing at around 5,711 barrels of oil equivalent per day (boepd) – with the Cascadura-1ST1 and Cascadura Deep-1 wells contributing some 4,082 boepd.
The two new wells at the CO-1 block, which came online in late May and in recent weeks were the subject of optimisation, are currently producing at a combined rate of around 212 barrels per day (bbls/d).
Touchstone said it achieved average net sales volumes of 5,432 boepd for the second quarter, comprising 4,173 boe/d of sales from natural gas and 1,259 bbls/d from crude oil and natural gas liquids.