CWLH Restart Lifts Jadestone Output to 19,000 boepd

Jadestone Energy's group production has climbed to roughly 19,000 barrels of oil equivalent per day (boepd) after the Cossack, Wanaea, Lambert and Hermes (CWLH) fields resumed output offshore Western Australia. The restart follows repairs to a subsea riser J-tube (the structural conduit carrying pipelines up to the floating vessel) and reconnection of the Okha floating production, storage and offloading (FPSO) unit to the fields' subsea infrastructure.

Operations and well testing restarted in late September. All but one production well is back online. The fields have produced about 8,000 barrels of oil per day (bopd) gross in recent days — around 2,700 bopd net to Jadestone.

The holdout well matters. An assessment identified an issue requiring remediation, and the operator is still evaluating options to restore production safely. No timeline was given. That silence is the caveat on today's headline number.

Who operates what in the basin?

Woodside Energy operates the CWLH development. Jadestone holds a 33.33% working interest, built in two steps: an initial 16.67% stake acquired from BP in November 2022, and a further 16.67% from Japan Australia LNG (MIMI) in February 2024 for $9 million. The second deal included the field interests, subsea infrastructure, the Okha FPSO — and the associated abandonment liabilities.

The fields sit in the North Carnarvon Basin off north-west Australia, within production licences WA-3-L, WA-9-L, WA-11-L and WA-16-L. In short: Jadestone bought its way into an established Carnarvon position cheaply, and now carries the decommissioning tail that comes with it.

Why didn't guidance move?

Despite the production lift, Jadestone held its full-year 2026 group guidance at 16,000-18,000 boepd. The reason is Stag. That field remains offline, with a replacement CALM buoy (catenary anchor leg mooring — the single-point loading buoy for tanker offloading) scheduled for deployment in Q1 2027, ahead of a planned restart in Q2 2027.

So the CWLH rebound offsets Stag's absence rather than raising the ceiling. Elsewhere in Australia, Montara posted roughly 97% uptime following a reinjection compressor upgrade earlier in 2026.

What is happening in Vietnam?

In Vietnam, Jadestone is finalizing talks with potential partners on a farm-out (partial interest sale) of the Nam Du/U Minh gas project, with key development contracts nearing completion. The parties to the project's Gas Sales and Purchase Agreement extended the conditions precedent period in late October to allow contract awards to finish.

The company still targets a final investment decision (FID — the board-level sanction committing capital) before the end of 2026. Treat that as a target, not a schedule; the precedent-period extension shows the paperwork is not yet closed.

How are the Malaysian and Indonesian assets performing?

In Malaysia, the PenMal assets continue to beat expectations. Support comes from the Phase 9 drilling program at the PM323 field and unplanned downtime of about 4% year to date. Jadestone is also negotiating an extension of the PM323 production sharing contract — no terms disclosed.

In Indonesia, the Akatara asset has held approximately 96% uptime since restarting after an April maintenance shutdown. The company expects 2026 production there to stay broadly in line with 2025 levels.

The watch items: the CWLH remediation plan for the shut-in well, Nam Du/U Minh contract awards ahead of a possible FID, and the Stag CALM buoy installation in Q1 2027.