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Jadestone Energy's Montara H6 Offshore Well Starts Production

September 28, 2021

Oil and gas company Jadestone Energy has tied the Montara H6 development well off Australia into the field facilities and the well has started production.

Jadestone is the 100% owner and operator of the Montara field, located in Production Licences AC/L7 and AC/L8 in the Timor Sea, about 690 kilometers west of Darwin, in a water depth of 77 meters.

The Montara H6 development well delivered an initial rate, after clean-up, approaching 10,000 bbls/d and following a period of well performance testing will be stabilised at around 3,000 bbls/d.

Jadestone said that the Valaris 107 rig had made the short move to the Skua-10 and Skua-11 workover location. Operations on Skua-11 have now started.

Paul Blakeley, President and CEO commented: "The Montara H6 well is an important milestone in our investment strategy for the Montara assets, confirming our view of the Montara reservoir, and providing near-term growth.  It not only delivers a significant increase in oil production but is also a key step in our plan to deliver circa 20,000 boe/d towards the end of this year.

"Higher production coincides with continued strength in oil prices, to which we are fully exposed given our unhedged position.  As a result, our balance sheet continues to strengthen, providing the platform from which to execute on further growth through investment in both the existing portfolio as well as further M&A.”



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