Jadestone Energy has delayed the commencement of their jackup drilling program in the Stag field until sometime in 2018. Jadestone had been in direct negotiations, understood to have been with Ensco, to hire a jackup for an appraisal well and three infill wells commencing in Q4 or upon rig availability. The postponed drilling program may now include a further 3 wells that Jadestone had been considering for 2018. Jadestone would have had the opportunity to contract either Ensco 107 or Noble Tom Prossser both of which would have completed other Australian charters by Q4 and itbis a surprise they did [...]
Jadestone, who have now officially taken over as operator of the Stag oilfield in permit WA-15-L after receiving approval for the purchase from NOPSEMA , are now expected to announce the award of a contract for a jackup, widely expected to be Ensco 107, for a 1 to 3 well drilling program to commence in late 2017 or early 2018.
Jadestone Energy continues to seek farm-in partners for their deepwater block 127 to help finance the drilling of a prospect in 600m water depths. Jadestone holds 100% interest in the Block and has a commitment to drill an exploration well by 2019. Formerly known as Mitra Energy, the company began seeking a farm-in partners back in July 2015.
Jadestone Energy is understood to be in direct negotiations with a contractor for a jack-up to drill 1 appraisal and 3 infill wells in the Stag field WA-15-L. Commencement is between November this year and January next year. Market sources say the selected contractor is Ensco with the jackup Ensco 107 which is already in Australia working for Chevron.
Jadestone Energy has purchased a 30% interest in two offshore blocks, 05-1b and 05-1c which are operated by Inpex and contain two gas fields that are planned to begin production in 2019. Jadestone also plan to develop their existing assets in Vietnam, the Nam Du and U Minh gas fields in blocks 46/0-7 and 51.
Private equity backed AziPac, through its Indonesia subsidiary Azimuth Indonesia, has acquired Mitra Energy’s (now Jadestone Energy) remaining 60% interest in the Bone PSC off south Sulawesi Island, giving them a 100% stake in the block. Water depths in the block are just over 2000m. Jadestone has a strategy to increase value through production and development rather than through frontier exploration. The deal is still subject to government approval. Assuming approval is forth-coming AziPac, which is backed by the Seacrest Capital Group, is planning a “low cost” exploration campaign next year.
Following evaluation of the responses received to its pre-qualification for a jackup to drill one appraisal well and three in-fill production wells in the Stag field in WA-15-L, Jadestone Energy (formerly Mitra) is believed to have selected a rig following direct negotiations with a contractor. No contract has yet been signed and will be subject to the rig’s continued availability, not usually an issue in this day and age. Commencement window is between November and January. There are currently two rigs con-tracted into Australia, Ensco 107 with ConocoPhillips until July or October or Noble Tom Prosser with PTTEP until November [...]