Jadestone Energy, an oil-and-gas company, announced that it anticipates achieving full-year output towards the upper end of its guided range. With a projected range of 13,500 to 15,000 barrels of oil equivalent per day from April to December, the company is well on track to meet its targets.
Since April, Jadestone Energy has maintained an average output of approximately 14,400 oil-equivalent barrels per day. Year-to-date, they have achieved around 13,100 barrels per day. These figures show promising progress compared to the average production of 11,487 barrels per day in 2022.
The company attributes the improved expectations to better-than-expected rates from the East Belumut infill in Malaysia, as well as output from the CWLH oil fields offshore Australia. The stable performance of the Montara field, also offshore Australia, has further contributed to the positive outlook for production.
Chief Executive Paul Blakeley commented on the recent strengthening of production: "Production has strengthened recently, with the stabilization of Montara, strong growth from the successful Malaysia infill drilling campaign, and solid performance from all other producing assets."
In addition to these developments, Jadestone Energy confirmed that the Akatara project onshore Indonesia is progressing as planned. The project is expected to commence gas production before mid-2024.
