Proactive Investors - Run By Investors For Investors

Brookside Energy has news pending of maiden oil and gas reserves in the US

A trading halt has been granted by the ASX until the start of trade on Thursday or when an announcement is released.
Onshore oil wells
Brookside is focused on the world-class Anadarko Basin plays in Oklahoma

Brookside Energy Ltd (ASX:BRK) has news pending regarding its maiden oil and gas reserves in the US state of Oklahoma and has been granted a trading halt by the ASX.

The halt will remain in place until the start of trading on Thursday, December 6, 2018, or when an announcement is released to the market, whichever occurs earlier.

Brookside’s shares last traded at 1.4 cents before the halt.

READ: Brookside Energy’s oil and gas production results confirm productivity in the SCOOP Play

In October, the company reported a daily production rate of 1,828 barrels of oil equivalent (BOE) (67% oil) from the Bullard 1-18/7H well at the Anadarko Basin plays in Oklahoma.

Brookside has a 20.57% working interest in the well now producing from the Woodford Shale in the South Central Oklahoma Oil Province (SCOOP) play.

The well produced about 73,000 BOE (69% oil) in its first 60-days of production comprised of about 50,000 barrels of oil and 136 million cubic feet of gas.

These results were achieved from a 7,500-foot lateral producing from the Woodford Shale formation at a depth of about 8,050 feet.

This well is adjacent to Brookside’s SWISH area of interest, which is the focus of its current leasing campaign.

The initial production results provide Brookside with confirmation of the productivity of the Woodford Shale in this part of the SCOOP Play and validate its SWISH acreage acquisition strategy targeting the Sycamore and Woodford formations.

READ: Brookside Energy adds Casey Capital as major shareholder, forms Mark Casey-led advisory board

Brookside is pursuing an aggressive leasing strategy within the world-class Anadarko Basin plays.

The company, which was established in 2004 and listed on the ASX in October 2005, is focused on the mid-continent region of the US that is highly prospective for oil and gas.

Its goal is to build value per share through a disciplined portfolio approach to the acquisition and development of producing oil and gas assets, and the leasing and development of acreage opportunities.

View full BRK profile View Profile

Brookside Energy Ltd Timeline

Related Articles

oil and gas operations
July 09 2018
Greka highlighted improved revenues which boosted gross profit despite the challenges experienced in India and China through 2017.
oil and gas operations
November 12 2018
The second well at Verbier has the potential to significantly upgrade the size and commercial potential of the presently undeveloped oil field
January 21 2019
The company aims to expand its portfolio of hydrocarbon resources as it prepares oil and gas projects for production and continues its regional exploration work.

© 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