Rangers Well surface production facilities with Lee Francis (Vice President Operations) in the foreground Source: Brookside Energy
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Brookside Energy’s (BRK) Rangers Well exceeds 1000 barrels of oil equivalent per day in early flow-back
  • The well, located in the SWISH Area of Interest in the Anadarko Basin in Oklahoma, reached the milestone of around 80 per cent oil plus gas and natural gas liquids, with only 17 per cent of stimulation fluid recovered
  • To date, the well has produced nearly 27,500 barrels of oil during early flow-back, with daily volumes increasing at modelled rates for the oil-rich reservoir
  • The company says the high oil cut is already resulting in significant revenue generation, with oil and gas sales anticipated to be ongoing as flow-back operations continue
  • Brookside Energy last traded at 1.9 cents on May 11

Brookside Energy’s (BRK) Rangers Well has reached 1008 barrels of oil equivalent per day in early flowback.

The Rangers Well is operated by Black Mesa Energy, a subsidiary of Brookside, and has been drilled by Kenai Drilling Company.  

The well, located in the SWISH Area of Interest in the Anadarko Basin in Oklahoma, reached the milestone of around 80 per cent oil plus gas and natural gas liquids in early flow-back, with only 17 per cent of stimulation fluid recovered.

To date, the well has produced around 27,417 barrels of oil during early flow-back, with daily volumes increasing at modelled rates for the oil-rich reservoir.

Managing Director David Prentice said these are extremely pleasing results from the company’s second high-impact well in the area.

“These results once again confirm our team’s ability to identify very high-quality prospects and then monetise them through drilling, completion and ultimately production of oil and gas,” he said.

The company said the high oil cut is already resulting in significant revenue generation at this early stage of flow-back, with gross revenue generated by the Rangers Well estimated to exceed US$2.4 million (around A$3.4 million).

Oil and gas sales are anticipated to be ongoing as flow-back operations continue.

Brookside Energy last traded at 1.9 cents on May 11.

BRK by the numbers
More From The Market Herald
Countplus (ASX:CUP) - Incoming CEO, Hugh Humphrey

" Hugh Humphrey appointed CEO of Countplus (ASX:CUP)

Investment services company CountPlus (ASX:CUP) has appointed Hugh Humphrey as the company's CEO, effective July 1.

" ASX employee tests positive for Covid-19

The ASX says an employee has contracted Covid-19.

" ASIC launches official investigation into ASX market outage

The ASX has confirmed today it is officially under investigation from the Australian Securities and Investments…

" ASX sheds more light on last week’s market tech failure

The Australian Securities Exchange has shed some more light on the nature of last week's market…