Touchstone Exploration Inc. (TSX:TXP)(AIM:TXP) has released its financial and operating results for the third quarter of 2026, highlighting a 1% increase in production compared to the previous quarter. The company averaged 4,485 barrels of oil equivalent per day (boe/d) in Q3 2026, up from 4,433 boe/d in Q2 2026, driven by the completion of the Cascadura facility compression project. However, production decreased 13% from the same period in 2025, primarily due to planned compressor maintenance and a well shut-in on the Central block.
The company reported a 30% increase in petroleum and natural gas sales, totaling $16.46 million, compared to $12.70 million in Q3 2025. This increase was attributed to a 49% rise in realized commodity prices per boe, partially offset by a 13% decrease in sales volumes. Crude oil sales amounted to $5.73 million, with an average realized price of $74.33 per barrel, while natural gas sales reached $8.94 million, with an average realized price of $5.02 per Mcf.
Touchstone's operating netback surged by 82% to $22.58 per boe, primarily due to higher realized prices across all products. The company also recorded a net income of $0.08 million, a significant improvement from a net loss of $2.06 million in Q3 2025. Capital expenditures for the quarter were $1.76 million, primarily directed toward drilling the PS-623 crude oil development well, which was completed and brought on production in October 2026.
Post period-end highlights include the CR-3 Karamat completion, where wellhead pressures built to approximately 1,600 psi, and the WD-4 drilling campaign, with the first well producing at an average field-estimated rate of approximately 290 bbls/d of crude oil. Field-estimated production for October 2026 averaged 5,020 boe/d, reflecting a notable recovery from the previous quarter.