Trinidad-focused Touchstone Exploration Inc (LON:TXP) told investors that monthly figures for December saw oil sales of 1,536 barrels per day, up from 1,337 bopd in the month of November.
Notably, production from the four wells drilled during 2017 was described as “strong”, averaging 283 bopd for November and December.
READ: Touchstone Exploration raises £3mln to more than double Trinidad drill programme
Touchstone has now begun preparations for the first four well sites of the 2018 campaign, and drilling is due to start on the first well on or about January 22.
Presently, the company said it is producing around 1,492 bopd.
"I am pleased to report today's operational update that has seen the company continue to deliver positive results, as witnessed by the 16% year over year production growth,” said James Shipka, Touchstone chief operating officer.
READ: Touchstone Exploration says new wells continue to deliver better-than-expected results
“We are excited to announce the start of our 2018 drilling program following the recent successful fundraise in December, a programme that gives Touchstone significant momentum in the market as we enter an ambitious growth period for the company in 2018."