Jadestone H1 2026 slides: revenue up 13% as downtime hits output

Jadestone Energy reported its first-half 2026 financial results on August 27, 2026, showcasing a mixed set of outcomes amid industry-wide headwinds. Revenue climbed 13% to $261.1 million, buoyed by a 17% spike in commodity prices that pushed the realized oil price to $90.4 per barrel. However, production contracted 25% to 15,282 barrels of oil equivalent per day (boe/d), down from 20,368 boe/d the previous year, as unplanned downtime hampered operations at key Australian fields.

The company's cash position surged, swelling from $60.9 million at the start of the year to $174.3 million by June 30, 2026, largely due to a $200 million bond issuance and the repayment of $150 million of its reserve-based lending facility. Despite the production decline and higher costs, adjusted EBITDAX remained stable at $101.6 million.

The company's Malaysia drilling campaign in Phase 9 of PM323 stood out, setting a new record for extended reach drilling (ERD) while exceeding technical and budgetary expectations.