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Canada's Touchstone Exploration Inc. has closed its acquisition of Shell Trinidad Central Block Ltd. for cash consideration of approximately $28.4 million.
In the deal’s original announcement in December 2024, Touchstone agreed to purchase 100% of the share capital of Shell Trinidad from BG Overseas Holdings for $23 million.
Shell Trinidad holds a 65% participating interest in the onshore Central Block E&P license in Trinidad, which includes four producing natural gas wells and a gas processing facility, according to a May 20 press release.
The remaining 35% participating interest is held by Trinidad’s state-owned Heritage Petroleum. The license includes approximately 6,699 gross acres (4,354 net) working interest acres.
Current gross production from the Central Block is approximately 18 MMcf/d of natural gas and 200 bbl/d of natural gas liquids (approximately 3,200 boe/d), according to the December announcement.
"This transaction strengthens our production base, allows us access to the liquefied natural gas market, broadens our onshore presence, and enhances our operational capacity in a region where we see long-term strategic value,” said Paul Baay, Touchstone Exploration president and CEO.
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