Brookside Energy (ASX:BRK) - Managing Director, David Prentice
Managing Director, David Prentice
Source: The Market Herald
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Brookside Energy (BRK) progresses the Jewell Well in Oklahoma’s Anadarko Basin into production
  • The well is producing oil, gas and natural gas liquids, with commercial sales established during the early part of flow-back and stimulation recovery
  • The Jewell drill spacing unit (DSU) is now classified as “Held by Production”, paving the way for proved developed and undeveloped reserves within the DSU
  • Oil and gas sales are projected to continue alongside flow-back operations
  • Shares in Brookside Energy closed at three cents each on September 13

Brookside Energy (BRK) has progressed its Jewell Well in Oklahoma’s Anadarko Basin into production.

The well is producing oil, gas and natural gas liquids, with the company set to take advantage of strengthening prices for all three production streams in light of its unhedged production.

In a statement today Brookside said commercial production and sales were established during the early part of flow-back and stimulation fluid recovery.

Accordingly, flow rates are reportedly approaching pre-drill base case volume estimates and increasing in line with BRK’s modelled flow-back profile.

The company said material volumes of oil and gas had already been sold with oil trucked to a nearby pipeline terminal and gas transported to a processing facility.

Brookside Managing Director David Prentice said the news marked a major milestone with Jewell being the company’s first operated horizontal oil and gas all in the SWISH Area of Interest.

“I’m obviously very proud of everyone involved and I’m delighted to be able to report these early results from our flagship Jewell Well but I would like to make special mention of the great people that make up the Black Mesa team, whose years of hard work and diligence have delivered this success,” he said.

“Our industry operates around the clock, and we have little time to reflect on this success as we move forward with the Rangers Well, the next well in our potential five-year, 20-plus well development drilling program, and we look forward to bringing everyone news on that front and importantly the ongoing production performance of the Jewell Well over the coming weeks.”

In light of commercial production, the Jewell drill spacing unit (DSU) is now classified as Held by Production (HBP), which will help Brookside book further proved developed and proved undeveloped reserves within the DSU.

Looking ahead, oil and gas sales are projected to continue alongside flow-back operations, with BRK set to report peak rates as they are achieved.

Shares in Brookside Energy closed at three cents each on September 13, 2021.

BRK by the numbers
More From The Market Herald

" Work at Cooper Energy’s (ASX:COE) gas projects experience bushfire delays

Cooper Energy (ASX:COE) has provided updates regarding the Sole Gas Project and the Orbost Gas Processing…

" Worley (ASX:WOR) progresses renewable plastics facility, signs Shell agreement

Worley (ASX:WOR) further progresses its strategic partnership with Avantium Renewable Polymers for the world-first commercial scale…
Hexagon Energy Materials (ASX:HXG) - Outgoing Managing Director, Merrill Gray

" Merrill Gray resigns as MD of Hexagon Energy Materials (ASX:HXG), company appoints Andrew Kirk as Director

Merrill Gray has resigned from her post as Managing Director of Hexagon Energy Materials (ASX:HXG), effective…
Ampol (ASX:ALD) - Managing Director & CEO, Matthew Halliday

" Ampol (ASX:ALD) gets all clear for Z Energy (ASX:ZEL) acquisition

Ampol Limited (ASX:ALD) welcomes the decision by the NZCC to provide clearance for its acquisition of…