The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Jadestone Energy celebrates record annual oil production

Fri, 02nd Feb 2024 11:43

(Alliance News) - Jadestone Energy PLC on Wednesday said it expected the acquisition of a further CWLH 2 stake to complete in mid-February as oil production jumped last year.

The independent upstream energy company focused on the Asia-Pacific region said it had record production of 13,813 barrels of oil equivalent per day in 2023, up 20% from 11,487 in 2022.

Meanwhile, Jadestone's acquisition which will increase the company's non-operated working interest in the CWLH fields to 33.33% from 16.67% is set to complete in mid-February.

Chief Executive Officer Paul Blakeley said: "2024 is set to be a very important year of transition for Jadestone, with production expected to grow by around 55% year-on-year driven by first gas at Akatara, higher volumes from Malaysia and the completion of the CWLH 2 acquisition, all in turn adding significant diversification to our business."

Jadestone Energy shares were 0.7% higher at 26.42 pence each on Friday morning in London.

By Tom Budszus, Alliance News slot editor

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

Related Shares

More News
16 May 2024 09:57

LONDON BROKER RATINGS: Barclays raises Travis Perkins to 'overweight'

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and on Wednesday:

29 Apr 2024 11:18

Jadestone Energy swings to loss as revenue hurt by lower oil prices

(Alliance News) - Jadestone Energy PLC on Monday said it swung to an annual loss as lower prices hurt revenue, and it also lowered its production guid...

26 Apr 2024 20:02

TRADING UPDATES: Facilities by ADF profit hit by Hollywood strikes

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

22 Apr 2024 14:45

UK earnings, trading statements calendar - next 7 days

11 Apr 2024 16:00

IN BRIEF: Jadestone resumes trading as Woodside cancels sale of assets

Jadestone Energy PLC - oil and gas company focused on the Asia-Pacific region - Shares readmitted to trading on the AIM market of the London Stock Exc...

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.