Brookside Energy Ltd (ASX:BRK, OTC:RDFEF) has completed all stimulation operations at the multi-well Flames-Maroons Development Plan (FMDP) in the core of the southern SCOOP Play in Oklahoma’s Anadarko Basin and is on track for first sales from all four wells within two months.
The stimulation operations of the three Sanford Pad Wells - Iginla, Maroons and Fleury - have been safely finished, meeting budget and schedule expectations.
Preparations are underway to commence flowback and first sales from all four FMDP wells targeting late Q3/early Q4 2024, which will grow Brookside’s net production to 2,500 BOEPD (78% liquids) by Q4 2024.
Successful stimulation
Brookside’s managing director David Prentice said: “We are extremely pleased with the successful completion of the stimulation of the Sanford Pad Wells.
"Achieving this milestone safely, on time and within budget is once again a credit to the expertise and dedication of our operations team.”
The high-intensity zipper fracture stimulation of the three Sanford Pad wells was executed with a total of 92 stages successfully completed. There were 48 stages at Iginla and 22 stages each at Maroons and Fleury.
Real-time monitoring during the operations confirmed that each stage effectively stimulated the reservoir, with pressures, sand and fluid volumes aligning with the pre-completion design.
Drill out to begin
Equipment has been mobilised to site to begin the drill out of the composite plugs which served as check valves to provide zonal isolation during the high-intensity multi-stage stimulation of each well.
Drill out of the plugs has begun on the Maroons Well with simultaneous operations planned to commence on the Rocket Well at the Flames Well Pad by the end of the week. Drill out of the Fleury and Iginla Wells will begin once this work has been completed.
Once all frac plugs have been drilled out, operations will get underway to circulate drilling fluids and clean-up the wells to recover any debris from the drill out operations, prior to flow-back and first sales.
“With the drill out of the plugs now underway, we are on track to meet our production targets, which will significantly enhance Brookside's net production by late Q3/early Q4 2024,” Prentice said.
“This progress marks another important step forward for the FMDP and underscores our commitment to delivering value to our shareholders.”
About the FMDP
SWISH AOI full field development production profile showing the significant and long-term production contribution from the FMDP multi-well development (orange).
The FMDP multi-well program is targeting the highly productive Sycamore Lime and Woodford Shale formations in the SCOOP area of the southern Anadarko Basin.
It is forecast to produce 715,000 BOE (78% liquids) net to Brookside in its first year of operation with average production boosted to 2,300 BOEPD net to Brookside and revenue to US$70 million (net income US$26.6 million) in FY2025.
Revenue over the life of the wells is projected to be US$164 million with net income of US$58 million from 2.1 million BOE Net (~60% liquids).
The FMDP will be the first of many planned step changes in the growth of Brookside’s production, revenue and net income, contributing to Brookside’s success for years to come.