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Brookside Energy partner Stonehorse Energy lists on ASX

Stonehorse is also developing oil and gas plays in the world-class Anadarko Basin in the US state of Oklahoma.

Brookside Energy Ltd - Brookside Energy partner Stonehorse Energy lists on ASX
Stonehorse has a step-in agreement with Brookside

Brookside Energy Ltd (ASX:BRK) notes that Stonehorse Energy Ltd (ASX:SHE) has debuted on the ASX today after a successful reverse takeover.

Stonehorse comes to market with two existing producing oil and gas assets and access to a significant pipeline of high-quality opportunities in the world-class Anadarko Basin in Oklahoma.

Stonehorse’s step-in agreement with Brookside delivered the two aforementioned producing wells, the Sutton2H-52 well in Hansford County, Texas and the Burgess 28-1 well in Ellis County, Oklahoma.

Both of these wells have been successfully drilled, completed for production and turned to sales and they are now delivering seasoned production and cash flow.

Step-in agreement provides pipeline of opportunities

In addition to these two wells, the step-in agreement provides the company with access to a pipeline of well bore opportunities in the Anadarko Basin.

Stonehorse’s executive director David Deloub said: “We are particularly excited about the opportunities that are emerging from Brookside’s SWISH area in the SCOOP Play.

“There is currently a lot of activity in this area with several rigs operating and generating significant success, so the opportunity to invest in this operated project could deliver material upside for Stonehorse.”

Proactive caught up with Brookside earlier last month for an update.

Quick facts: Brookside Energy Ltd

Price: 0.007 AUD

Market: ASX
Market Cap: $7.01 m

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Full interview: Brookside Energy expands oil & gas acreage position in...

Brookside Energy Limited (ASX:BRK) managing director David Prentice speaks to Proactive about the recent acreage expansion in the Anadarko Basin of Oklahoma, USA. Two additional SWISH Area of Interest (AOI) Drilling Spacing Units (DSUs), Rangers and Flames, have been secured in the...

on 3/3/20

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