Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Touchstone Exploration ( (TSE:TXP) ) has provided an update.
Touchstone Exploration Inc. reported a decrease in average quarterly production to 4,317 boe/d in the first quarter of 2025, primarily due to natural declines in production from certain wells. The company recorded a net earnings of $41,000, a significant improvement from the previous quarter’s net loss, despite an 18% reduction in revenue to $11.11 million. Touchstone announced a private placement targeting UK investors to raise approximately $20.5 million and secured a new $30 million loan facility to finance a previously announced acquisition. These financial maneuvers aim to enhance development activities and strengthen the company’s financial position.
More about Touchstone Exploration
Touchstone Exploration Inc. is a Calgary, Alberta-based company engaged in acquiring interests in petroleum and natural gas rights, as well as the exploration, development, production, and sale of petroleum and natural gas. The company operates primarily in onshore properties located in the Republic of Trinidad and Tobago. Its common shares are traded on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol ‘TXP’.
See more insights into TXP stock on TipRanks’ Stock Analysis page.