Information  X 
Enter a valid email address

Jadestone Energy meets output guidance in 2019

By BFN News | 09:50 AM | Tuesday 25 February, 2020


Oil and gas producer Jadestone Energy said production in 2019 had met expectations underpinned by a full-year of output at its Montara oil field offshore Australia. Jadestone achieved its production guidance target for 2019, with full-year production averaging 13,531 barrels per day, the company said. Looking ahead, the company estimated average crude oil production within a range of 13,500-to-15,500 barrels per day, with average unit production costs of between US$20.50 and $23.50 a barrel and capital spending of $160m-to-190m. 'Our southwest Vietnam gas development project will shift into high gear immediately upon field development sanction, including the award of a number of major procurement streams. The project team are maintaining schedule with selective long-lead orders while the FDP continues to work its way through Vietnam government approvals,' Jadestone said. 'Once approved, this project provides strong short-term growth, diversifies our portfolio with fixed price gas and, when it comes on stream, a predictable cash flow at a time of significant oil price volatility. We're excited to be working to deliver this project which has the potential to supply critical clean energy to a region which needs it, and we maintain our belief that we can deliver first gas on stream by late 2021.' At 9:50am: (LON:JSE) Jadestone Energy INC share price was +0.5p at 70p Story provided by StockMarketWire.com

a d v e r t i s e m e n t