20th Aug 2025 14:16
(Alliance News) - Jadestone Energy PLC on Wednesday announced that initial production from the Skua-11ST well in the Montara field offshore Australia has been "significantly ahead" of expectations.
The Asia-Pacific focused oil and gas development company operates in Australia, Malaysia, Indonesia and Vietnam.
Chief Executive Thomas 'T Mitch' Little commented: "We are pleased to report the strong initial flows from the Skua-11ST well, which will meaningfully contribute to higher production from Montara, underpinning our revised 2025 production guidance which was upgraded in July.
"The increase in production will also reduce Montara unit operating costs and extend field life by approximately one year."
Initial oil production rates from the development well exceeded 6,000 barrels per day. This was "significantly ahead" of the company's previous guidance of 3,500 barrels.
Jadestone said oil production rates subsequently stabilised at 4,400 bbls/d on a 40% open choke, before the restart of Montara's other subsea wells.
Production from Skua-11ST started in early August.
"Skua-11ST was completed with downhole inflow control devices, which are designed to maximise reservoir sweep and recovery from the well," Jadestone said. "Skua-11ST, along with the other Montara wells, will be managed in the longer-term to maximise overall recovery from the Montara field."
Monara is off the Northern Territory of Australia in the Timor Sea.
Shares in Jadestone were down 0.6% at 19.63 pence on Wednesday afternoon in London. The stock is down 35% over the past 12 months.
By Emma Curzon, Alliance News reporter
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