Touchstone Exploration Inc. is an oil and gas exploration and production company. As of my knowledge cutoff in September 2021, Touchstone Exploration Inc. was listed on the Toronto Stock Exchange (TSX) under the ticker symbol “TXP” and on the London Stock Exchange (LSE) under the ticker symbol “TXP.” As of this post, the TXP Share Price is at 58.05 GBX.
Touchstone Exploration primarily focuses on exploring, developing, and producing oil and natural gas reserves in Trinidad and Tobago. The company has been active in the energy sector since 2010, primarily emphasizing onshore drilling operations in Trinidad’s prolific Ortoire block.
Touchstone Exploration Inc. is a Canadian-based oil and gas exploration and production company with operations primarily in Trinidad and Tobago. Here’s a brief history of Touchstone Exploration:
Founding and Early Operations (2008-2010)
Touchstone Exploration was founded in 2008 by experienced oil and gas professionals. The company began its operations focusing on exploring and developing oil and gas reserves in Trinidad and Tobago, attracted by the country’s rich energy resources.
Initial Public Offering (2010)
In 2010, Touchstone Exploration completed its initial public offering (IPO) and began trading on the Toronto Stock Exchange (TSX) under the ticker symbol “TXP.” This allowed the company to raise capital to fund its exploration and production activities.
Expansion and Asset Acquisitions
Touchstone Exploration expanded its operations in the following years through strategic acquisitions and exploration activities. The company acquired various blocks and licenses in Trinidad and Tobago, including the Coora, WD-4, WD-8, Fyzabad, and Guayaguayare blocks. These acquisitions helped the company build a diverse portfolio of oil and gas assets.
Drilling Success and Production Growth
Touchstone Exploration achieved significant drilling success in Trinidad and Tobago. The company utilized modern drilling techniques, including horizontal drilling, to extract oil and gas from its reserves more efficiently. As a result, production increased steadily, and Touchstone became one of Trinidad’s leading onshore oil and gas producers.
London Stock Exchange Listing (2017)
In 2017, Touchstone Exploration listed its shares on the London Stock Exchange (LSE) under the “TXP.” This listing gave the company access to a broader investor base and increased visibility in the international financial markets.
Ongoing Operations and Future Outlook
As of September 2021, TXP Share Price continued to focus on exploration, development, and production activities in Trinidad and Tobago. The company aimed to capitalize on its existing assets, expand its production capabilities, and pursue further growth opportunities in the energy sector.
Here are some potential advantages of investing in TXP Share Price:
Strategic Asset Portfolio
TXP Share Price has built a strategic asset portfolio in Trinidad and Tobago, which includes various blocks and licenses. This diversification of assets can help mitigate risks associated with a single project or location.
Established Presence in Trinidad and Tobago
The company has a significant presence and operational expertise in Trinidad’s oil and gas industry. This provides TXP Share Price with valuable local knowledge, established infrastructure, and stakeholder relationships, potentially reducing operational risks.
Strong Production Growth
TXP Share Price has demonstrated a record of production growth in recent years. The company has increased its oil and gas production through efficient drilling techniques and optimization strategies. Strong production growth can contribute to revenue generation and enhance shareholder value.
Favorable Geopolitical Environment
Trinidad and Tobago is known for its stable political environment, supportive government policies, and well-regulated energy sector. These factors can provide a favorable investment climate for TXP Share Price.
Exploration and Expansion Potential
TXP Share Price continues to explore and develop its existing assets while actively seeking growth opportunities. Successful exploration efforts or strategic acquisitions can provide potential upside for investors.
Exposure to Oil and Gas Market
Investing in TXP Share Price provides exposure to the oil and gas sector. Depending on market conditions, the demand for energy resources can drive the company’s financial performance and potentially generate shareholder returns.
- BHP Group: BHP Group is a global resources company engaged in various sectors, including oil and gas exploration and production. While it operates on a much larger scale than Touchstone Exploration, it can be considered a competitor in terms of its involvement in the energy sector.
- Heritage Petroleum Company Limited: Heritage Petroleum is a state-owned oil company in Trinidad and Tobago. It operates in the country’s exploration, development, and production of oil and gas reserves. As a domestic player, it competes with Touchstone Exploration for resources and market share within Trinidad and Tobago.
- Trinity Exploration & Production Plc: Trinity Exploration & Production is another independent oil and gas company focused on Trinidad and Tobago. It engages in the country’s exploration, development, and production activities, making it a direct competitor to Touchstone Exploration.
- Range Resources Limited: Range Resources is an international oil and gas exploration and production company with operations in Trinidad and Tobago and other regions. While Range Resources has a broader geographic presence, its activities in Trinidad and Tobago bring it into competition with Touchstone Exploration.
- Petrotrin (now Trinidad Petroleum Holdings Limited): Petrotrin, now known as Trinidad Petroleum Holdings Limited, was a state-owned oil company in Trinidad and Tobago. While it underwent restructuring and name change, the restructured entity could compete with Touchstone Exploration in the energy sector.
