Jadestone Energy has announced that the Stag 49H infill well – the first well at the Stag field in six years – is in production at a rate of 1,400 bopd.
Jadestone, the 100% owner and operator of the producing Stag oil field located offshore Australia, started drilling the Stag infill well in March , using the Ensco 107 jack-up drilling rig.
After concluding drilling operations on May 6, 2019 , the well was given approximately two weeks for swell packers to expand and set while the company completed hook-up operations prior to first production.
According to Jadestone’s statement on Thursday, first oil was achieved on May 21, 2019 and, following a brief clean-up period, the well is now producing at a rate of 1,400 bopd, confirming the company’s confidence in delivering 1.2 mmbbls of incremental 2P oil reserves.
Paul Blakeley , President and CEO commented: “I’m delighted to have safely and successfully completed our first infill well at Stag. This is another important milestone for Jadestone. When we acquired the field in July 2016, we recognized several opportunities to add value, including streamlining logistics and operations, improving uptime and, most importantly, adding additional barrels through infill drilling.
“The 49H infill well further validates our re-investment thesis and serves to enhance near-term cash flow, reduce unit opex and extend the productive life of the field. Moreover, we have enhanced our understanding of the reservoir, which plays into further drilling opportunities, and we continue to seek new opportunities to add value to the asset, particularly as we begin to realize economies of scale with our other Australia operations.”
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