Jadestone Energy, an Asia-Pacific focused oil and gas company, has informed that Valaris’ Valaris 247 jack-up rig has arrived on location at the Montara field offshore…
Jadestone Energy, an Asia-Pacific focused oil and gas company, has informed that Valaris’ Valaris 247 jack-up rig has arrived on location at the Montara field offshore Australia for an upcoming drilling operation.
Valaris 247 will drill the Skua-11 well side-track at the field, which represents the main activity in Jadestone’s 2025 capital program.
Operations will cover safe decommissioning of the existing SK-11 well, after which a side-track will be drilled higher in the Skua structure to accelerate the recovery of reserves from this field.
The Skua-11ST program is expected to take around 60 days to complete, with an expected initial oil rate of c.3,500 bbls/d when brought onstream and extending the economic life of the Montara field by one year.
The well is expected to cost $62 million, with a forecast payback period of 16 months and generate a 65% internal rate of return, according to Jadestone.
“We are looking forward to executing drilling operations at Skua-11 safely and efficiently. Bringing this well back into production will add to the positive operational momentum we have seen so
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