Express Business Filler #1

CANADIAN oil and gas company Touchstone Exploration has announced that tests on its Cascadura Deep-1 well have confirmed the presence of liquids rich natural gas.

Touchstone has an 80 per cent operating working interest in the well, which is located on the Ortoire block onshore Trinidad (Heritage Petroleum Company Ltd holds the remaining 20 per cent working interest).

The company, in a statement yesterday, said, Cascadura Deep-1 well production testing commenced on April 8, 2021, with flow tests spanning a total of 58 hours, comprising an initial clean-up flow period, followed by an initial shut-in period and a five-step rate test, including a 24-hour extended flow test.

Well testing was conducted by an international well testing and measurement company.

It noted that during the extended flow test period, the well achieved a peak production rate of approximately 4,567 boe/d (90 per cent natural gas). This production rate included approximately 24.5 MMcf/d of natural gas and 477 bbls/d of NGLs flowing at 1,917 psi.

Commenting on the discovery, Touchstone’s chief executive officer and president Paul Baay said the positive test results from Cascadura Deep-1 further expand the opportunity on the Ortoire block as “we now expect to have two distinct and separate sheets producing from two wells in the Cascadura structure”. “We will accelerate operations required to bring the two Cascadura wells onto production as the test results allow us to properly size surface facilities for reservoir management. We are also moving forward with the required applications to establish a second Cascadura surface location, designed for up to four development wells. The test results demonstrate the clear future production opportunities for the company,” Baay said.

James Shipka, chief operating officer, also commenting on the liquids rich natural gas, stated the exceptional performance noted during Cascadura Deep-1 well testing reinforces the geological concept of multiple stacked, independent hydrocarbon charged horizons in the Herrera turbidite fairway.

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