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Investing.com -- Jadestone Energy on Thursday raised its full-year production guidance following strong first-half performance, particularly at its Akatara gas field in Indonesia.
Shares of Jadestone Energy rose about 3.8% after the report.
The company delivered solid first-half 2025 production of 20,400 barrels of oil equivalent per day (boe/d), which was 3% above estimates, as the Akatara field produced "ahead of plan."
As a result, Jadestone increased its fiscal year 2025 production guidance to 19,500-21,500 boe/d, representing a 5% increase at the midpoint compared to its previous guidance of 18,000-21,000 boe/d.
The company reported net debt of $107.6 million at the end of the first half, higher than the $54.2 million reported at the end of April. However, this figure excludes $62.5 million from June 2025 liftings that were received in early July.
Jadestone reduced its operating expense guidance to $240-280 million, a 5% decrease at the midpoint, citing "strong cost control."
Meanwhile, capital expenditure guidance was revised upward to $105-115 million, a 29% increase, following previously announced cost increases related to the Skua-11 sidetrack project at its Montara field in offshore Australia.
The company reaffirmed its free cash flow guidance of $270-360 million (before debt servicing) for 2025-2027, based on oil prices of $70-80 per barrel.
Jadestone stated it "will continue to focus on creating value for shareholders to ensure that the potential of our assets is fairly reflected in our share price."
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