Energy Club

Northern Territory

  • Home
  • News
  • Montara acquisition triples Jadestone's output

Montara acquisition triples Jadestone's output

07 Mar 2019 4:35 PM | Sonia Harvey (Administrator)

JUNIOR producer Jadestone Energy has released its 2019 guidance ahead of announcing its full year results, and expects its overall production rates to triple thanks to its recent acquisition of the Montara oil field in offshore Western Australia.

Jadestone secured 100% of Montara from PTTTEP recently, adding it to the Stag field in northwest Western Australia and its pre-development and exploration assets in Vietnam and parts of Southeast Asia.  

Average Montara production over the last month reached a rate of 15,369 barrels of oil per day, following some flush production from Montara's restart and continued natural flow from the Skua-11 and Swift-2 wells.  

Average unit production from both Montara and Stag costs between US$21-24 per barrel, the junior reported.  

Jadestone estimates this year oil output across its producing assets will average between 13,500-15,500bopd. 

"Following our acquisition of the Montara asset, offshore Australia, we have tripled production, all of it high quality and premium-priced oil from offshore Australia, and are making good progress on a significant development project in Vietnam, which we expect to sanction this year," Jadestone CEO Paul Blakeley said.  

"As we increase our influence and control over the Montara asset, in preparation for taking over operatorship, we are identifying more opportunities to generate value for shareholders, including innovative ways to add reserves and resources, while optimising both production rates and operating costs."

 Source: Energy News Bulletin

Read more here.

Energy Club NT is an Incorporated Association 

The information contained in this website is for general information purposes only. The information is provided by Energy Club NT Inc and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

Through this website you are able to link to other websites and files which may not be owned, authored or under the control of Energy Club NT Inc. We have no control over the nature, content and availability of other websites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.

Powered by Wild Apricot Membership Software