LONDON (ShareCast) - (Sharecast News) - Jadestone Energy said on Wednesday that initial flow testing from its Skua-11ST development well at the Montara field offshore Australia delivered production rates well above expectations.
The AIM-traded company said output exceeded 6,000 barrels per day, compared with prior guidance of 3,500 daily barrels, before stabilising at around 4,400 barrels per day on a 40% open choke ahead of the restart of Montara's other subsea wells.

Skua-11ST was completed with inflow control devices designed to improve reservoir recovery.

Jadestone said the well, along with others at Montara, would be managed to maximise long-term output from the field.

"We are pleased to report the strong initial flows from the Skua-11ST well, which will meaningfully contribute to higher production from Montara, underpinning our revised 2025 production guidance which was upgraded in July," said chief executive T Mitch Little.

"The increase in production will also reduce Montara unit operating costs and extend field life by approximately one year."

At 1256 BST, shares in Jadestone Energy were up 0.06% at 19.76p.

Reporting by Josh White for Sharecast.com.

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