Jadestone Energy's oil and gas production has risen to approximately 19,000 barrels of oil equivalent per day (boepd) following the restart of the Cossack, Wanaea, Lambert and Hermes (CWLH) oil fields offshore Western Australia.
Production resumed after repairs to a subsea riser J-tube and the reconnection of the Okha floating production, storage and offloading (FPSO) vessel to the fields' subsea infrastructure.
Production operations and well testing restarted in late September, with all but one production well now back online. The fields have produced approximately 8,000 barrels of oil per day (bopd) gross, or around 2,700 bopd net to Jadestone, in recent days.
An assessment of the remaining well identified an issue requiring remediation, with the operator evaluating options to restore production safely.
Jadestone holds a 33.33% working interest in the CWLH development, operated by Woodside Energy, having acquired an initial 16.67% stake from BP in November 2022 and a further 16.67% from Japan Australia LNG (MIMI) in February 2024 for $9 million.
The latter acquisition included interests in the fields, subsea infrastructure and Okha FPSO, along with associated abandonment liabilities.
The CWLH fields are located in the North Carnarvon Basin offshore north-west Australia, within production licences WA-3-L, WA-9-L, WA-11-L and WA-16-L.
Despite the recent increase in production, Jadestone maintained its full-year 2026 group production guidance of 16,000-18,000 boepd, with its Stag field remaining offline.
The company expects to deploy a replacement CALM buoy at Stag in the first quarter of 2027, ahead of a planned production restart in the second quarter.
Elsewhere in Australia, Jadestone reported approximately 97% uptime at Montara following a reinjection compressor upgrade earlier in 2026.
Vietnam Gas Development and Regional Production Updates
In Vietnam, the company is finalizing discussions with potential partners for the Nam Du/U Minh gas project farm-out, while key development contracts are nearing completion.
The parties to the project's Gas Sales and Purchase Agreement extended the conditions precedent period in late October to allow contract awards to be finalized, with Jadestone continuing to target a final investment decision before the end of 2026.
In Malaysia, production from the PenMal assets remains ahead of expectations, supported by the Phase 9 drilling program at the PM323 field and unplanned downtime of approximately 4% year to date. Jadestone is also negotiating an extension of the PM323 production sharing contract.
The company's Akatara asset has maintained approximately 96% uptime since restarting after a maintenance shutdown in April, with 2026 production expected to remain broadly in line with 2025 levels.
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