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April 23, 2020

Jadestone Energy further cuts capex, 80% reduction overall

By Matthew Farmer

Oil and gas production firm Jadestone Energy has further reduced its 2020 capital expenditure.

Over both rounds of reductions, the company has reduced its 2020 capex by around 80%, from its original $160m-190m to $30m-$35m. It has already spent about $15.5m during the first quarter this year.

Jadestone said the delay would help align its capital spending with a stronger oil price environment, while preserving its current balance sheet and net cash position.

Read more here.

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