Jadestone Energy has announced that the Stag 49H infill well – the first well at the Stag field in six years – is in production at a rate of 1,400 bopd.
After concluding drilling operations on May 6, 2019, the well was given approximately two weeks for swell packers to expand and set while the company completed hook-up operations prior to first production.
According to Jadestone’s statement on Thursday, first oil was achieved on May 21, 2019 and, following a brief clean-up period, the well is now producing at a rate of 1,400 bopd, confirming the company’s confidence in delivering 1.2 mmbbls of incremental 2P oil reserves.
Paul Blakeley, President and CEO commented: “I’m delighted to have safely and successfully completed our first infill well at Stag. This is another important milestone for Jadestone. When we acquired the field in July 2016, we recognized several opportunities to add value, including streamlining logistics and operations, improving uptime and, most importantly, adding additional barrels through infill drilling.
“The 49H infill well further validates our re-investment thesis and serves to enhance near-term cash flow, reduce unit opex and extend the productive life of the field. Moreover, we have enhanced our understanding of the reservoir, which plays into further drilling opportunities, and we continue to seek new opportunities to add value to the asset, particularly as we begin to realize economies of scale with our other Australia operations.”
Spotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email.
Offshore Energy Today, established in 2010, is read by over 10,000 industry professionals daily. We had nearly 9 million page views in 2018, with 2.4 million new users. This makes us one of the world’s most attractive online platforms in the space of offshore oil and gas and allows our partners to get maximum exposure for their online campaigns.
If you’re interested in showcasing your company, product or technology on Offshore Energy Today contact our marketing manager Mirza Duran for advertising options.