Jadestone Energy to spud Stag-49H well in early March after agreeing rig contract

  • Feb 11, 2019
  • Stock Market Wire

StockMarketWire.com - Jadestone Energy said Monday it had signed a rig contract for infill drilling on the Stag oilfield, located offshore Australia.

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

The drill would be used to spud the Stag-49H well targeting approximately 1.2 million barrels of incremental oil reserves from the field.

The company was planning to spud the Stag-49H well in early March 2019 and drilling operations were expected to take approximately 34 days, Jadestone energy said.

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