Oil rig. Source: Brookside Energy.
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  • Brookside Energy Limited (BRK) updates on the Rangers Drilling Spacing Unit (DSU) in its SWISH area at the Anadarko Basin in the US
  • Several of the largest oil and gas producers in the US have now confirmed their participation in the Rangers DSU
  • Brookside expects to retain an 80 per cent working interest in the DSU, with its subsidiary, Black Mesa Energy, as operator
  • Participation in the Rangers DSU includes an equivalent working interest in the high-impact Rangers Well and the option to participate in future wells drilled in the DSU
  • Brookside was trading up 5.2 per cent at 2 cents a share at 10am AEDT today

Three of the largest oil and gas producers in the US have confirmed they will join ASX-listed Brookside Energy in the Rangers Drilling Spacing Unit (DSU) in the Anadarko Basin in the US state of Oklahoma.

Brookside expects to retain about an 80 per cent working interest in the DSU, with its subsidiary, Black Mesa Energy, as the operator.

The US producers are led by Citation Oil and Gas Corporation with a 10.2 per cent working interest, Continental Resources with a 5.3 per cent working interest, and XTO Energy with a 1.7 per cent working interest.

Citation is one of the largest private oil and gas companies in the US and is an active player in the SWISH area of interest and the Southern SCOOP area.

Continental is a top ten oil producer in the US, and the most dominant operator across the Anadarko Basin plays. It maintains large holdings throughout the STACK and SCOOP Plays.

XTO has extensive non-operated holdings within the Anadarko Basin.

A further 2.1 per cent working interest in the DSU is taken up by a combination of private equity and smaller private oil and gas firms.

Participation in the Rangers DSU includes an equivalent working interest in the high-impact Rangers Well and the option to participate in future wells drilled in the DSU.

“We are once again delighted to see some of the largest, most experienced and well-funded US operators joining with us in our SWISH AOI development program. This is a strong endorsement of the quality of our acreage and the operational capability of our Black Mesa team,” Brookside Managing Director David Prentice said.

Brookside shares were trading up 5.2 per cent at 2 cents at 10am AEDT.

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