Jadestone set to spud first Stag well in six years

Singapore’s Jadestone Energy plans to drill infill wells on its Stag and Montara assets both located offshore Western Australia with Stag well set to spud in March this year. 

Jadestone is the 100% owner and operator of the producing Stag oil field and the 100% owner of the producing Montara project. It is worth reminding that Jadestone took over the Montara field from Thailand’s PTTEP in September 2018 but the operatorship transfer is still subject to Australian regulatory approvals.

In a statement on Wednesday Jadestone said that all of its forecast 2019 production is crude oil from its two producing offshore assets offshore Australia, Montara and Stag, and it is expected to be in the range of 13,500—15,500 bbls/d. The company is implementing measures to streamline operations on both assets, resulting in both lower gross operating costs and higher production rates in 2019.

In addition to the impact of adding new production volumes through infill wells and well interventions, the company anticipates increasing facility uptime towards a target of 84% at Montara this year.

Jadestone intends to start its infill drilling campaign on the Stag field with the Stag 49-H well in March 2019, and with a Montara infill well towards year-end.

As previously reported by Offshore Energy Today, Jadestone has already hired a rig for infill drilling on the Stag oilfield. Namely, offshore driller Ensco Australia has agreed to provide the Ensco 107 jack-up drilling rig to Jadestone for Stag wells.

Paul Blakeley, President and CEO, commented: “Stag continues to improve in operating performance and the infill well we will shortly spud, the first at Stag in six years, will add material production and significantly reduce unit operating costs.”

In addition, planning is well under way on a light well intervention program at Montara focused on three wells, including a high potential operation within the Skua-11 wellbore, which will target bypassed crestal oil pay in the Skua field.

This activity, which is planned to start in the second quarter of 2019, will access substantially the same new resource as a new well, but at a fraction of the capital cost.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< May 2019 >>
MTWTFSS
29 30 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

08th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

OWI WA 2019

West Africa’s only dedicated Offshore Well Intervention Conference is returning for its second year…

read more >

OIL & GAS PHILIPPINES 2019

Oil & Gas Philippines event display products like Oil & gas, fire protection systems and materials…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply