Inspenet, December 9, 2023.
Well drilling campaign exceeded expectations
Jadestone Energy reported the completion of well drilling of the East Belumut 2023 field in the waters of Peninsular Malaysia. The results obtained during the program have far exceeded expectations. The company also provides updated details on the group’s production, the progress of the Akatara project and recent crude oil extractions.
Testing of the fourth and final well of the East Belumut infill drilling campaign is currently underway, reaching a measured depth of 4,600 meters in the southwestern portion of the field. This result represents a measured depth approximately 730 meters greater than initially planned, due to the discovery of a better than expected oil column at the tip of the well and the achievement of the longest reach horizontal drilling recorded in the field.
Likewise, the horizontal section of the target formation covered a total of 1,700 meters, thanks to the successful optimization of the well trajectory through the use of geosteering tools. This well is anticipated to generate initial rates in excess of 3,500 barrels per day (bpd).
Notably, along with the three previously drilled wells, which are currently generating a combined gross rate of 7,000 barrels per day (bpd), the returns achieved in the East Belumut infill campaign have significantly exceeded initial expectations for aggregate gross rates for the four wells, which were 3,500 bpd.
It is anticipated that capital investment in drilling will be recovered and amortized by the second quarter of next year. The well results are being used to update the geological model of the East Belumut field, which will positively impact reserves and potentially identify several new infill targets for future drilling campaigns.
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