en.Wedoany.com Reported - Jadestone Energy has completed drilling and brought online the second well, EBA-07ST1, in its 2026 infill drilling campaign in Malaysia, with an oil production rate of 2,800 barrels per day. The first well was previously announced in June 2026 to have reached a peak production of approximately 3,200 bpd.
EBA-07ST1 is defined as an extended-reach well, with actual drilling costs approximately 13% lower than budget. The horizontal reservoir section is 930 meters long, with a total measured depth of 5,473 meters. The well is considered the longest ever drilled in the East Belumut field, in which Jadestone Energy holds a 60% interest. This well is 600 meters longer than the first well in the 2026 campaign.
The well's ERD ratio (horizontal displacement to vertical depth ratio) is 4.1, reportedly setting a new record for extreme-reach drilling in Malaysia, reflecting the company's in-house drilling capabilities. Jadestone Energy has booked Velesto's NAGA 8 rig to support the infill drilling activities for the East Belumut Phase 9 project starting in March, for a duration of four months.
Due to the positive results from the first two wells of the 2026 drilling campaign, the company has decided to drill a third optional well. The Asian firm confirmed that drilling and completion operations for this well have concluded, and results will be announced in due course.
Jadestone Energy CEO T. Mitch Little stated that following the excellent results from the first well of the 2026 East Belumut project, the second well has also delivered positive outcomes, setting a new record for extended-reach drilling across all basins in Malaysia—a very impressive milestone for the drilling team. Overall, the first two wells have increased production from the field by over 150% (adding approximately 6,000 bpd), further validating the company's ability to unlock reserves and create value in existing fields by identifying and executing opportunities overlooked by previous operators. The company looks forward to updating the market on the third well in due course.
