Touchstone Exploration Reports Q1 2025 Financial Results

Touchstone Exploration Inc. released its financial and operational results for Q1 2025, showing a decline in production and revenue compared to the previous periods. Average quarterly production fell to 4,317 boe/d, mainly due to natural gas declines. Revenue from petroleum and natural gas sales totaled $11.11 million, an 18% decrease from Q4 2024.

The drop in earnings was offset by a 38% reduction in operating costs, which resulted in an operating netback of $6.15 million, showing an 11% decrease quarter-over-quarter. Funds flow from operations also decreased to $2.58 million. Net earnings for the quarter were $41,000.

Capital investments amounting to $6.67 million were primarily focused on the Cascadura-4 development well. The company's cash balance ended at $5.72 million with a net debt of $33.33 million. A private placement and a new loan facility are set to further support the company's strategic initiatives.