Jadestone Energy Inc ( (GB:JSE) ) has provided an announcement.
Jadestone Energy has commenced operations at the Montara field offshore Australia with the arrival of the Valaris 247 jack-up rig to drill the Skua-11 well side-track. This project is a key component of Jadestone’s 2025 capital program, aiming to enhance reserve recovery and extend the Montara field’s economic life by one year. The Skua-11ST program, expected to be completed in 60 days, anticipates an initial oil rate of 3,500 barrels per day and a 65% internal rate of return. This development is part of Jadestone’s strategy to maintain high operational uptime and stable production, with current group production slightly exceeding expectations despite earlier cyclone disruptions.
More about Jadestone Energy Inc
Jadestone Energy plc is an independent upstream production and development company headquartered in Singapore, focusing on the Asia-Pacific region. The company has a diversified portfolio of production and development assets across Australia, Malaysia, Indonesia, Thailand, and Vietnam. Jadestone is committed to growing its production base through both organic developments and strategic acquisitions, while also emphasizing operating efficiencies and cost reductions. The company is aligned with the energy transition, aiming for Net Zero Scope 1 & 2 GHG emissions from its operated assets by 2040.
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Technical Sentiment Signal: Strong Buy
Current Market Cap: £129.9M
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