Suspended Montara production knocks out half of Jadestone Energy’s output and $45mn of 2022 free cash flow, writes Alex Hamer. Jadestone has certainly seen a positive uptick in earnings in the first half of this year, but operational problems at its offshore Australia Montara asset in June have hit production guidance for the year, while its non-operated new Malaysian holdings had a run of issues that will probably mean zero production from those two licence areas. An oil leak at the floating production, storage and offloading (FPSO) ship at Montara in the Timor Sea in June was fixed, but another issue with the ship was identified in August and Jadestone shut down production.

Continue reading