Brookside Energy Ltd (ASX:BRK) has a 0.3% working interest in a four well development project known as the Centaur Unit in the STACK Play in the Anadarko Basin, Oklahoma.
Two of these four development wells have already reached projected total depth and are awaiting completion with the remaining two wells currently drilling.
These development wells are direct offsets to the successful Big Earl 6-15N-10W #1H well which recorded an IP24 of 1,540 barrels of oil equivalent (BOE) per day.
READ: Brookside Energy secures first operated SWISH development unit in Anadarko Basin
Brookside’s managing director David Prentice said: “Participating in our first development wells in one of our many non-operated Working Interest units in the world-class STACK Play in Oklahoma is yet another significant milestone for the company.
“While our interest in the Centaur Unit is small, our participation in the development of this Devon Energy operated unit in the core of the STACK Play is a great “pilot study” for future participation (with more material Working Interests) in the large inventory of high-quality low-risk proved undeveloped locations that will emerge from our acreage in the Anadarko Basin.
“Production from these wells will provide valuable cash flow for us and more importantly provide “proof of concept” for our strategy to participate in these low-risk development opportunities in the future when it makes economic sense to do so.
“The opportunity to participate in these high-quality low-risk development opportunities and receive the resultant cash flow is a wonderful second pillar to our already successful acreage acquisition and re-valuation business model.”
Adding to a long list of producing wells in the STACK Play
Brookside is focused on its ~400-acre non-operated STACK Play holdings where it has a number of minor working interests.