Proactive’s Tylah Tully breaks down just the facts of the latest news from Brookside Energy Ltd (ASX:BRK, OTC:RDFEF).
The company has reported a strong start to production at its Flames Maroons Development Plan (FMDP) wells within its SWISH Project in the Anadarko Basin, Oklahoma.
Since flowback and testing began last month, the four new wells have generated approximately US$4.3 million in revenue and produced about 80,000 barrels of oil equivalent (BOE), with 87% being liquids. Daily production currently stands at around 3,900 BOE per day, with less than 6% of stimulation fluid recovered.
The company is encouraged by the early production rates from the Woodford Shale and Sycamore formations, noting the potential for sustained production.
The Sanford Pad wells are performing well, with 75% of the total lateral length completed in the Woodford Shale, which typically takes longer to begin producing compared to the Sycamore Limestone.