By Christian Moess Laursen
Jadestone Energy said it expects full-year output towards the upper end of its guided range.
The oil-and-gas company said Monday that it is on track to meet the upper end of the guided range of 13,500-15,000 barrels of oil equivalent a day for April to December, which equates to a full-year range of 12,600-13,700 barrels a day.
Since April, the company has averaged around 14,400 oil-equivalent barrels a day and around 13,100 year-to-date.
In 2022, production averaged 11,487 barrels a day.
The improved expectations are driven by better-than-anticipated rates from the East Belumut infill in Malaysia and output from the CWLH oil fields offshore Australia, and a stable well performance from the Montara field, also offshore Australia, it said.
“Production has strengthened recently, with the stabilization of Montara, strong growth from the successful Malaysia infill drilling campaign and solid performance from all other producing assets,” Chief Executive Paul Blakeley said.
Additionally, the Akatara project onshore Indonesia remains on track to pump its first gas before mid-2024, the company said.
Write to Christian Moess Laursen at christian.moess@wsj.com
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