The final well is undergoing tests after reaching 4,600 m MD southwest of the field, 730 m deeper than planned due to a better than expected oil column encountered at the toe of the well.
It was also the longest-reach horizontal well drilled in the field to date, with a 1,700-m horizontal section in the target formation. Geo-steering tools ensured successful optimization of the well trajectory, the company added.
The well should produce at initial rates of more than 3,500 bbl/d, boosting the current aggregate of about 7,000 bbl/d from the first three wells drilled. Jadestone expects to recover the cost of the drilling capex by second-quarter 2024, and it is using the results to update the geological model for East Belumut.