Business
Guidance and Operations Update
Guidance and Operations Update.
About this update from Jadestone Energy Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0080J\n Jadestone Energy PLC\n 18 August 2021\n \n \n \n \n \n \n \n \n \n \n Guidance and Operations Update\n \n \n \n \n \n 18 August \n \n 2021-Singapore:\n \n Further to the announcement on 9 June 2021 and the closing of the SapuraOMV Peninsular Malaysia acquisition earlier this month, Jadestone Energy plc (\"Jadestone\", the \"Company\" or together with subsidiaries, the \"Group\"), an independent oil and gas production company focused on the Asia Pacific region, provides updated operational and financial guidance for 2021 ahead of its H1 2021 operating and financial results on 9 September 2021:\n \n \n \n \n \n l \n H1 2021 Group production was slightly ahead of plan at 9,934 bbls/d;\n \n \n l \n Average full-year 2021 production guidance of between 11,500-13,500 boe/d remains unchanged\n \n \n - \n Includes 9,000-10,500 bbls/d from the Australia assets, reflecting H1 2021 performance, and the revised contributions from the Montara H6 infill well and the Skua 10 and 11 subsea well workovers, due to the late arrival of the Valaris 107 drilling rig and longer than expected drilling at the Montara H6 well causing a circa one month delay in the work programme; \n \n \n - \n Slight delays to Stag workovers due to COVID restrictions on people and equipment; and \n \n \n - \n Includes daily production from the Peninsular Malaysia assets of a little over 6,000 boe/d, post-closing on 1 August 2021 net to Jadestone and consistent with production levels at the time of the announcement of the acquisition, with some potential upside, equivalent to 2,500-3,000 boe/d annualised production.\n \n \n l \n Average 2021 unit production cost guidance is unchanged at US$25.50-29.50/boe, and reflects the updated production guidance outlined above;\n \n \n l \n Spending in 2021 of US$105-115 million, compared to US$85-95 million previously, which includes capital expenditure and major non-recurring opex\n \n \n - \n Reflects updated estimates on the anticipated scope of work necessary to restore production from the Skua subsea wells, and the revised cost of the H6 infill well at Montara, where the well has been sidetracked due to mechanical equipment issues. \n \n \n l \n While Jadestone and the seller remain committed to the Company's acquisition of the 69% operated working inter...