Touchstone Confirms Cascadura Discovery with 5,180 Boepd Test

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Well that didn’t take too long. This morning, ​Touchstone Exploration (TXP.TO, last at $0.67) announced test results from the lowermost (first) zone of its Cascadura-1 well, onshore Trinidad. To use the CEO’s words from the interview linked below, the well is ‘a beast’. The well confirms a “significant” (to quote the press release) gas-condensate discovery, testing at an average rate of 27.1 mmcf/d and 660 barrels of 54-degree API liquids over a roughly 24 hour testing period. Flowing pressure was 3,350 psi on a 40/64″ choke, indicating an 18% drawdown (read a little about well testing here). Further to that end, the well apparently maxed out the testing equipment and it is believed that the tested zone might actually be able to be brought on stream at a rate comparable to the test rate. That’s quite a test, and is over 162 feet of pay, with another 450 feet of pay yet to be tested higher up in the well. The flare is quite a sight and the company was kind enough to put an image of it on its Twitter feed today.

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