Touchstone Exploration Reports Third Quarter 2024 Results and Updated Guidance
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 13 2024
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Source: Yahoo Finance
Financial Performance: Touchstone Exploration Inc. reported a 54% increase in average quarterly production to 5,211 boe/d for Q3 2024, with petroleum and natural gas sales rising to $13.25 million, up from $11.68 million in the same quarter last year. The company also achieved net earnings of $1.85 million compared to $0.99 million in Q3 2023.
Operational Updates: The company faced delays in its capital projects but successfully commissioned new flowlines and began production testing on two wells in November 2024, projecting an updated average daily production guidance of 5,900 boe/d for 2024, down from previous estimates due to operational challenges.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
