Proactive Investors - Run By Investors For Investors

Brookside Energy reveals strong initial production rates for two wells

Production has now been established in fourteen of sixteen completed wells.
oil well with sunset in background
The company is partnered with Triumph Energy, LLC and Devon Energy Corp. (NYSE:DVN)

Brookside Energy Ltd (ASX:BRK) has received initial flow rate data for two new STACK Play wells that it has a non-operating working interest in, located in the world-class Anadarko Basin, US.

The company has a 3.7% working interest in the Dr. No. 1-17-20XH well which achieved 1,769 barrels of oil equivalent (BOE) per day of which 64% is oil.

Brookside also has a 2.2% working interest in the Ladybug 1-22-27XH well which achieved 3,200 BOE per day.

READ: Brookside Energy will use sale proceeds of US$1.475 million to continue aggressive US leasing strategy

Brookside’s managing director David Prentice said: “We are delighted to present these latest production results from our non-operated working interest wells in the STACK Play.

“These are prolific producers and these results together with those that we have previously announced, confirm our view that the Anadarko Basin Plays are world-class, sitting comfortably alongside the very best oil and gas resource plays in the US.

“We continue to see outstanding results from the wells that we have participated in; both in terms of initial production and estimated time to payout.

“We have now established a “body of work” in terms of initial and sustained production that will feed into our maiden reserve report and provide further support for our acreage acquisition and revaluation business model.”

16 horizontal wells now drilled in Anadarko

Brookside has now participated in the drilling and completion of sixteen horizontal wells within the STACK and SCOOP Plays in the Anadarko Basin.

Production has now been established in fourteen wells, with average IP24 of around 2,400 BOE per day achieved across these wells.

Using this data, Brookside estimates the average payout is estimated at around 30 months for wells, which is a relatively short amount of time.

View full BRK profile View Profile

Brookside Energy Ltd Timeline

Related Articles

June 27 2019
The aim is to roll CoalSwitch out in areas where AEG can source high volume feedstock.
oil rig
May 29 2019
Wressle public inquiry scheduled for 5 November 2019 and expected to last six days.
Ukraine oil well
April 30 2019
In Ukraine, the Group’s assets are located near to Poland and Romania

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use