Jadestone Energy Signs Rig Contract For Drilling On Stag Oilfield

LONDON (Alliance News) - Jadestone Energy Inc on Monday said it signed a rig contract for infill ...

Alliance News 11 February, 2019 | 11:46AM
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LONDON (Alliance News) - Jadestone Energy Inc on Monday said it signed a rig contract for infill drilling on the Stag oilfield, in offshore Australia.

The independent oil & gas production company owns 100% of the Stag field.

Under the deal, Ensco Australia Pty Ltd has agreed to provide the Ensco 107 jack-up drilling rig to Jadestone, after completion of its current operation in Western Australia.

Jadestone intends to drill the Stag-49H well from the Stag wellhead platform, as a horizontal oil producer, targeting unswept pay in the Stag reservoir southwest of the platform.

The company plans to spud the well in early March and said drilling operations will take approximately 34 days.

Jadestone shares were trading down 0.3% at 37.60 pence each on Monday.

By Elena Cherubini; elenacherubini@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Jadestone Energy Inc 58.75 -
Jadestone Energy Inc 0.98 CAD 0.00 -
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