Jadestone Energy has announced that the Stag 49H infill well, which is the first well at the Stag field in six years, is in production at a rate of 1,400 bopd. After the drilling operations were concluded, first oil was achieved in May 21, 2019. The drilling was conducted by the Ensco 107 jack-up drilling rig.
Mainly, Jadestone Energy Inc. is an independent oil and gas production company, operating on the Asia Pacific region.
As noted above, the drilling operations were concluded on Monday, May 6, and the well was given two weeks for the expansion of swell packers and set, whereas the company completed its hook-up operations before the first production.
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As the company stated, the first oil was achieved 15 days later, following a brief clean-up period.
Now, the well is producing oil at a rate of 1,400 bopd, confirming the Company’s confidence in delivering 1.2 mmbbls of incremental 2P oil reserves.
Paul Blakeley, President and CEO of the company noted that the oil production is a milestone for the company. As he added, the 49H infill well further validates the company’s re-investment thesis and serves to enhance near-term cash flow, reduce unit opex and extend the productive life of the field.