Jadestone Energy Ups Montara Field Volume Expectations
July 14, 2025
Jadestone Energy, an Asia-Pacific focused oil and gas company, has increased production rates expectations from the Montara field offshore Australia, as the drilling operation with Valaris’ Valaris 247 jack-up rig nears completion.
The Skua-11ST well at the Montara field has reached target depth, according to Jadestone, with analysis confirming the presence of over 900 meters of high-quality reservoir, which is more than double the reservoir section completed in any of the previous Skua wells.
As a result, initial production rates are expected to exceed previously disclosed estimates of 3,500 bbls/d, the company said.
Well operations are nearing completion, and following demobilization of the drilling rig, the Skua-11ST well is expected to be brought onstream in early August 2025.
As previously disclosed, the Skua-11ST campaign has taken longer than originally planned.
The total capital cost of the Skua-11ST well is now estimated at approximately $96-100 million, compared to the $70 million expected cost disclosed in May 2025.
Jadestone said several factors outside its control resulted in the well cost increase, including significant weather events and changes to the demobilization plan which have added an estimated $13-14 million.
Additionally, operational factors during drilling required additional rig days and account for the remainder of the incurred incremental cost.
“The Skua-11ST drilling campaign is nearing its conclusion, and I want to recognize the safe and environmentally responsible way the program has been executed to date. We look forward to Skua-11ST adding meaningful volumes to Group production once tied in, which will immediately reduce unit operating costs at Montara and extend field life by a year. This will add to our previously announced cost management initiatives that we intend to expand to other parts of the Group,” said T. Mitch Little, Chief Executive Officer of Jadestone, commented:
Learnings from this drilling campaign will be integrated into the planning of any future wells in the Skua area, Little added.
