Jadestone Energy (AIM:JSE) said its second well in the 2026 Malaysia infill drilling campaign has come online at 2,800 barrels of oil per day (bopd).
The AIM-listed independent upstream producer, focused on the Asia-Pacific region, drilled the well at East Belumut, in which it holds a 60% interest.
The result follows the first campaign well, announced on 24 June, which peaked at approximately 3,200 bopd.
The new well, EBA-07ST1, was drilled around 13% below budget, reaching a total measured depth of 5,473 metres with a 930-metre horizontal reservoir section. It is the longest well drilled to date on the field, exceeding the first 2026 well by 600 metres, and its 4.1 extended-reach-drilling ratio sets a new Malaysian record.
Strong results from the first two wells prompted Jadestone to sanction a third contingent well, which has now completed drilling, with results due to be reported in due course.
Chief executive Mitch Little said the first two wells have together lifted production from the field by more than 150%, an increase of around 6,000 bopd.
"Further validating our proven capability to unlock reserves, and create value in existing fields, by identifying and executing on opportunities bypassed by previous operators," Little said.
Jadestone expects to update the market on the third well's results shortly.
News Intelligence what this means for the company
Jadestone's second East Belumut infill well came online at 2,800 bopd, drilling 13% under budget and setting a Malaysian extended-reach record with a 4.1 ratio on a 5,473-metre well. Together with the first 2026 campaign well, the two have lifted field production by more than 150%—approximately 6,000 bopd—validating the company's ability to unlock reserves in mature fields; a third contingent well has completed drilling and results are pending.
The second well's on-budget execution and record-setting technical performance reinforce Jadestone's operational track record in Southeast Asia, though the 2,800 bopd result trails the first well's 3,200 bopd. The combined 6,000 bopd production lift from two infill wells demonstrates material near-term reserve monetization within the company's $50–80 million full-year capex guidance, pending the third well's outcome.
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