Paul Baay Touchstone

Paul BAAY

President and CEO

TOUCHSTONE EXPLORATION

The right fiscal regime needs to be put in place to make EOR attractive.
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Touchstone Exploration in figures

Blocks in which the company holds stakes:22

Company’s 2019 PPP reserves:29.8 million boe

Touchstone

Trinidad's gas-centred independent

Canadian multinational E&P company Touchstone Exploration is one of the largest independent onshore oil producers in Trinidad and Tobago, with stakes in 22 blocks. The company’s approach involves focusing on natural gas and high-production wells. While current activities are centred on Trinidad, Touchstone is looking at politically stable, hydrocarbons-rich markets for potential expansion.

  • Exploration: The company’s exploration efforts are focused on its Ortoire block, in which it holds an 80% operated working interest.
  • Production: As of March 2020, Touchstone was producing 1,700 bpd. Production is centred on several key assets: Coora (Block 1 & 2), WD-4, WD-8 and Fyzabad.
  • Heritage JV: Touchstone is involved in a joint venture with state-owned Heritage Petroleum. The company operates the WD-4 and Coora fields under a lease-operatorship agreement (LOA) with the NOC. The partners are striving for long-term well optimisation at these assets.
  • EOR with environmental benefits: Touchstone is bringing enhanced recovery to its development blocks in the form of waterflooding, which it launched on the WD-8 block. Waterflooding allows the company to return its produced water to the reservoir and avoid releasing effluent.

Touchstone aims to become the largest onshore producer in Trinidad and Tobago aside from Heritage Petroleum. With around half of its assets in production so far, the company plans to maintain an aggressive drilling programme to maximise operational efficiencies and bring production on stream as quickly as possible.

  • 2020: Highlights of the year included a gas discovery at the Ortoire block (Chinook-1), spudding of the Cascadura Deep-1 well ahead of schedule, the securing of a USD 20-million term loan and the raising of more than USD 40 million from share placing for further exploration at Ortoire.
  • 2019: While waiting to determine the future of its LOAs with Heritage, the company focused on exploration at Ortoire.
  • 2017-2018: Touchstone drilled 15 development wells on its four lease operatorship blocks.

Touchstone Exploration features

Paul Baay Touchstone
Interview
Trinidad and Tobago - November 12, 2020

Paul Baay, president and CEO of Touchstone Exploration, spoke in March 2020 to The Energy Year about the company’s latest work…

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Vernon Paltoo Trinidad Energy
Interview
Trinidad and Tobago - October 28, 2020

Vernon Paltoo, president of National Energy Corporation (National Energy), talks to The Energy Year about how the company works to encourage investment and foster a…

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Touchstone makes gas find in Trinidad
NEWS
Trinidad and Tobago - October 14, 2020

Touchstone Exploration has made a new gas discovery at the Ortoire block onshore Trinidad and Tobago, the company announced on Wednesday.

The Canadian player said…

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Touchstone in Trinidad gas discovery
NEWS
Trinidad and Tobago - February 07, 2020

Testing in Trinidad this week has confirmed a “significant” liquids-rich onshore gas find for Canadian upstream player Touchstone Exploration.

Touchstone announced…

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Interview
Kuwait - July 17, 2018

As Kuwait embarks on ambitious upstream, downstream and renewables programmes, KPC and its subsidiaries are increasingly looking to embrace the latest technologies and…

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Interview
Trinidad and Tobago - June 20, 2018

Leo Koot, executive chairman of Columbus Energy Resources, talks to TOGY about plans for the Goudron field and South West Peninsula assets, recent changes the company…

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Columbus may take over Icacos
NEWS
Trinidad and Tobago - April 16, 2018

Columbus Energy is in the early stages of acquiring additional stakes in the Icacos field of Trinidad and Tobago, the company said in a press release on Monday.…

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Paul Baay Touchstone
Interview
Trinidad and Tobago - July 20, 2017

Paul Baay, Touchstone Exploration president and CEO, talks to TOGY about a year of retrenchments and restructuring, as well as the company’s ambitions to become one…

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Michael LOEWEN
Interview
Trinidad and Tobago - May 3, 2016

Touchstone Exploration (Trinidad) country manager Michael Loewen talks to TOGY about how the modification of royalty schemes and a more collaborative approach to…

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