on Touchstone Exploration, Inc. (CVE:TXP)
Touchstone Exploration Reports Q1 2026 Financial Results
Touchstone Exploration Inc. posted an 8% year-over-year increase in daily production, averaging 4,657 boe/d in Q1 2026. This growth is attributed to the Central field, countering declines in older assets. However, production dipped compared to the previous quarter due to natural declines. Sales of petroleum and natural gas reached $12.5 million, a rise driven by improved crude oil and natural gas prices.
Operating netback rose to $13.73 per boe, up 46% from the previous quarter. Funds flow from operations increased to $1.85 million, primarily due to higher operating netbacks, despite a net loss of $2.38 million. Capital expenditures totaled $3.22 million, focusing on key projects.
The quarter ended with net debt at $76.07 million. Post-period, Touchstone focused on strategic infrastructure enhancements and successfully drilled the FR-1836 well on the WD-8 block. A strategic recapitalization plan is in motion to address liquidity challenges.
R. E.
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