Jadestone Ramps Up Stag Output
Tuesday 17 October 2017
Singapore's Jadestone Energy has seen a 40% lift in production since it took over operatorship of the Stag oilfield off Western Australia.
Jadestone revealed output at the field had exceeded 3600 barrels per day over the 10-days to 14 October.
It claims it is the first time output has reached that level since October last year and represents a 40% rise in production since it took over operatorship on 10 July. Output at Stag averaged about 2570 bpd during the June quarter.
It also noted that the uplift in production came despite the last production well at the field being drilled in April 2013.
“I am very proud of the Jadestone team, both offshore and onshore, in managing to bring Stag production up to this rate, even without the additional benefit of drilling new infill wells,” Jadestone chief executive Paul Blakeley said.
He added that the company expected output at the field to range between 3000 and 3500 bpd over the remainder of the year, with the company planning to carry out an infill drilling programme in 2018 to test the capacity of the reservoir and increase output.
Jadestone wrapped up its US$10 million acquisition of the Stag oilfield in November last year from previous owners Quadrant Energy and Santos.
Quadrant continued to operate the field under a transitional services agreement while Jadestone gained the necessary regulatory approvals to take over the reins.
The field lies in Block WA-15-L, about 60 kilometres off the West Australian coast, and was initially developed in 1998 and achieved peak production rates of 25,000 bpd.