Update on Maari Acquisition 9 June 2021-Singapore: Jadestone Energy plc , an independent oil and gas production company focused on the Asia Pacific region, is pleased to provide. | June 9, 2021
Jadestone to close Maari field deal in 2H 2021 June 9, 2021, by Nermina Kulovic
Singapore’s Jadestone Energy expects to complete the acquisition of the 69 per cent operated interest in the Maari asset, located in the shallow water offshore New Zealand, from OMV in 2H 2021.
Jadestone entered into an agreement with OMV for the acquisition of a 69 per cent operated working interest in the Maari asset back in November 2019.
The acquisition was supposed to be completed in 2020. Despite several delays, Jadestone said in March 2021 it was committed to closing the deal. As the effective date remains 1 January 2019, Jadestone will ultimately receive all economic benefits of the Maari interest from that date.
SINGAPORE, SINGAPORE / ACCESSWIRE / June 9, 2021 / Jadestone Energy plc (the 'Company'), an independent oil and gas production company focused on the Asia Pacific region, is pleased to provide an update
Please see SP Angel’s Oil Market outlook for 2021: https://youtu.be/T222JHGzokI
Oil prices continue to rally as the API reported a draw in crude oil inventories of 2.1MMbbls yesterday for the week ending 4 June
Last week, the API reported a draw in oil inventories of 5.4MMbbls after analysts had predicted a draw half that size of 2.1MMbbls
Crude oil inventories have fallen by more than 14MMbbls since the start of this year, according to API data, but are still up 43MMbbls barrels since January 2020
While crude oil inventories fell yet again this week, US oil production fell to an average of 10.8MMbopd for the week ending 28 May, according to the latest data from the Energy Information Administration