Jadestone Energy plc (AIM:JSE) ("Jadestone"), an independent upstream production company focused on the Asia-Pacific region, provides the following operational update.
The Company reiterates its 2024 production guidance, as provided in its H1 2024 results on 17 September 2024, being towards the lower end of the 18,500 - 21,000 boe/d range.
During October 2024, average daily Group production was over 22,000 boe/d and for various periods reached a record in excess of c.24,000 boe/d as Akatara intermittently achieved its daily contract quantity rate of c.20mmscf/d. Intermittent production is not unusual for the early stages of a project of this nature as commissioning issues continue to be addressed.
Operational performance across the remainder of the portfolio has been in line with expectations, reinforcing the benefit of a diversification of production streams. Drilling of the Skua-11 sidetrack on Montara is expected in the second quarter of 2025, subject to delivery of the rig on schedule.
