Oil and gas company Jadestone Energy has tied the Montara H6 development well off Australia into the field facilities and the well has started production.
Jadestone is the 100% owner and operator of the Montara field, located in Production Licences AC/L7 and AC/L8 in the Timor Sea, about 690 kilometers west of Darwin, in a water depth of 77 meters.
The Montara H6 development well delivered an initial rate, after clean-up, approaching 10,000 bbls/d and following a period of well performance testing will be stabilised at around 3,000 bbls/d.
Jadestone said that the Valaris 107 rig had made the short move to the Skua-10 and Skua-11 workover location. Operations on Skua-11 have now started.
Paul Blakeley, President and CEO commented: "The Montara H6 well is an important milestone in our investment strategy for the Montara assets, confirming our view of the Montara reservoir, and providing near-term growth. It not only delivers a significant increase in oil production but is also a key step in our plan to deliver circa 20,000 boe/d towards the end of this year.
"Higher production coincides with continued strength in oil prices, to which we are fully exposed given our unhedged position. As a result, our balance sheet continues to strengthen, providing the platform from which to execute on further growth through investment in both the existing portfolio as well as further M&A.”