on Touchstone Exploration, Inc. (isin : CA89156L1085)
Touchstone Exploration Announces Q3 2024 Results and Updated Guidance
Touchstone Exploration Inc., a Calgary-based company, reported its financial and operational results for Q3 2024, alongside updated guidance. The quarter saw an average production of 5,211 boe/d, a notable 54% rise from the same period in 2023, largely driven by increased natural gas output at the Cascadura field.
Sales for petroleum and natural gas reached $13.25 million, up from $11.68 million in 2023, attributed to a significant increase in natural gas volumes despite a drop in crude oil and liquid prices. Operating netbacks enhanced to $7.41 million, a 23% increase, mainly due to higher sales and lowered operating expenses.
The company noted a net income of $1.85 million, a rise from $988,000 in Q3 2023. Capital investment for the quarter totaled $3.07 million, focusing on Cascadura development and infrastructure.
R. H.
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