Brookside Energy Ltd (ASX:BRK) and Stonehorse Energy Ltd (ASX:SHE) have sold the first load of oil (169 barrels) on December 2, 2020, from the Mitchell 12-1 well, within Brookside’s Jewell Drilling Spacing Unit (DSU) in the SWISH AOI in the southern part of the SCOOP Play.
Restoration of production from the Mitchell Well allows Brookside to ‘hold by production’ the associated 80-acres that are located within the Jewell DSU.
This is a significant value add, in addition to the generated cashflow, as the Jewell well development progresses.
De-watering operations continue to consistently lower water levels in the well with daily water production approximately 50% lower than when pumping commenced.
This has resulted in decreasing back pressure on the formation with daily oil and gas production increasing approximately 5-fold and 8-fold respectively since the start of dewatering operations.
Daily production rate
Daily oil production to date has produced a peak rate of over 10 barrels of oil per day (BOPD), averaging over 5 BOPD since pumping commenced.
The companies expect daily oil and gas production volumes to continue to increase as water levels are decreased further.
Production Rate/Date plot Mitchell Well.
The company participated in Proactive’s Energy Webinar this week, with managing director David Prentice presenting at 36:25 minutes.
Calima Energy Ltd (ASX:CE1)(FRA:R1Y) and Peninsula Energy Ltd (ASX:PEN)(FRA:P1M)(OTCMKTS:PENMF) also presented at the webinar which can be viewed here: https://www.youtube.com/watch?v=dTgbfXYvYWE&feature=youtu.be&ab_channel=Proactive