Business
FY 2025 Trading Statement
Jadestone Energy plc reported a strong 2025 with record annual production of 19,829 boe/d, a 6% increase year-on-year, despite divesting the Sinphuhorm field. Total production costs decreased by 14% to US$243.0 million, and year-end net debt fell 15% to US$89.0 million, demonstrating financial discipline. Revenues rose 3% to US$408.1 million, though the average realized oil price decreased by 13% to US$74.42/bbl. Capital expenditure increased to US$112.7 million, primarily due to the Skua-11ST drilling campaign. The company also achieved over 12 million manhours without a lost-time injury and advanced its Nam Du/U Minh project in Vietnam, with further growth expected from an upcoming infill drilling campaign in Malaysia. Disclaimer*
About this update from Jadestone Energy Plc
[{"type":"text","content":"\n\n\n\nTrading Statement for the Full Year Ended 31 December 2025\n \nRecord annual production and delivering on our commitments\n \n3 February 2026 - Singapore: Jadestone Energy plc (AIM:JSE) (the \"Company\" and together with its subsidiaries, \"Jadestone\" or the \"Group\") announces a trading update for the full year ended 31 December 2025. The financial information in this update is unaudited and may be subject to further review and change.\n \nThe Group's 2026 guidance will be announced with the end-2025 reserves update at the end of February 2026.\n \nT. Mitch Little, Chief Executive Officer of Jadestone, commented:\n \n\"I'm pleased to report that 2025 was a strong year for Jadestone, underscored by a return to delivering on our annual commitments to our shareholders. Despite challenges encountered during the year, our operational and financial results are a testament to the skills and commitment of Jadestone's dedicated staff, a diversified production base, and our renewed focus on operational excellence and financial discipline.\n \nEven with the Sinphuhorm disposal during the year, average Group production reached another annual record of 19,829 boe/d, underpinned by better than expected performance at Akatara. Notwithstanding the higher production levels, total production costs were reduced by 14% from the prior year, as we took decisive actions to mitigate the cost increase of the Skua-11ST drilling campaign while improving cost discipline practices across the business. Despite significant capital investment, our year-end net debt declined 15% year-on-year as we sought to build resilience to lower near-term oil prices.\n \nAnd I am very proud to say that the strong operating and financial results were delivered while we extended our impressive HSE performance, achieving a significant milestone of over 12 million manhours worked without a lost-time injury.\n \nIn recent months, we have achieved key milestones in the approval of the field development plan for the Nam Du/U Minh discoveries offshore Vietnam. We are increasingly optimistic that we will have further good news to share on this key growth project in the near-term. An infill drilling campaign offshore Malaysia will also commence in coming months, as we seek to follow up on the successful 2023 program on the PM323 lice...