RE:CO2 EOR Western Fields
Touchstone was originally planning to bring the western fields up to 5,000 bopd before oil prices tanked and they found Commercial Gas at Coho and Cascadura. If oil prices cooperate, it would be nice to see Touchstone eventually go back and drill 10-12 wells here per year and continue the high roi workovers . They have 4 wells planned right now, but until they plan to launch a full program, I think of them as maintenance Capex. With 200+ potential targets this is a nice, under appreciated asset. 4000 bopd @ $25 netback would be 100k per day, 36.5 million per year. That would increase the value of these fields 150-200 million over the next 5-10 years.