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Brookside Energy highlights significant production results from adjacent wells at Anadarko Basin

Three new wells have come on-line delivering average initial production rates of almost 2,000 barrels of oil equivalent per day.

Brookside Energy Ltd - Brookside Energy highlights significant production results from adjacent wells at Anadarko Basin
The results will support higher per-acre valuations based on higher forecast recovered volumes and strong rates of return

Brookside Energy Ltd (ASX:BRK) has highlighted significant initial production results from wells drilled adjacent to the company’s SWISH Area of Interest (SWISH AOI) assets in the world-class Anadarko Basin, Oklahoma.

Three new wells have recently come on-line within the SWISH AOI, delivering average initial production rates (IP24) of almost 2,000 barrels of oil equivalent (BOE) per day (~78% oil) from horizontal wells drilled in the Sycamore formation (Brookside’s primary target) and the Woodford formation.

These new wells are all located very close or adjacent to Drilling Spacing Units (DSU’s) in which Brookside has acquired a working interest.

Activity Map, SWISH AOI, SCOOP Play

Notably, the Flash 1-8-5MXH Sycamore well (IP24 1,978 BOE/day) and Courbet 1-27-22XHW Woodford well (IP24 1,621 BOE/day) are both located very close to Brookside’s operated Jewell Unit in the heart of the SWISH AOI.

The recently drilled and completed Park Place 1-21-16MXH Sycamore well has also delivered very strong productivity (the highest achieved in the area to date) at IP24 2,377 BOE/day (77% oil).

Brookside managing director David Prentice said: “We are once again delighted to highlight the very strong results that are coming from the Sycamore and Woodford formations within our SWISH AOI.

“It is very exciting for us to see these results continuing to emerge, which highlights the quality and consistency of production that the Sycamore and Woodford formations offer in this area.

Sustained production results

Prentice added: “This Sycamore-Woodford sub-play in southern SCOOP has gone from a concept (based on results from historical vertical wells and examination of old logs and drill core) to “proof of concept” in a very short time, with strong IP’s and sustained production results beating our pre-drill estimates.

“These results will provide support for higher per-acre valuations, based on higher forecast recovered volumes, very strong rates of return and short pay-out profiles at today’s oil and gas spot prices.

“Our strategy of moving early to secure a strong acreage position in this location is being validated by the continuing evidence of strong early production from development wells.

“This is exactly what we anticipated would occur in this area and we believe more activity and better than expected initial production rates will be the catalyst for consolidation and ultimately strong returns for our shareholders.”

Quick facts: Brookside Energy Ltd

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ASX:BRK
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Market Cap: $5.02 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

2 min read