Jadestone Energy’s Production Soars, Debt Decreases

Jadestone Energy Inc (GB:JSE) has released an update.

Jadestone Energy Inc has reported a considerable year-on-year production increase of roughly 50%, averaging around 17,200 barrels of oil equivalent per day (boe/d), with the Akatara project expected to boost these figures significantly in the second half of 2024. The company’s net debt decreased to around US$66 million by the end of May 2024, benefiting from substantial cash revenues and despite no oil liftings in April. Jadestone also confirms its operating cost guidance of US$240-290 million and capital expenditure guidance of US$80-110 million for the year.

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