Brookside Energy Ltd (ASX:BRK) has provided an initial prospective resource estimate of 11.606 million net barrels of oil equivalent (BOE) for its holdings in the SWISH AOI, in the SCOOP play of the world-class Anadarko Basin in Oklahoma, USA.
The prospective resource was prepared by the company’s US-controlled subsidiary and manager of operations, Black Mesa Energy LLC, and covers Brookside’s Jewell, Flames and Rangers drilling spacing units (DSUs) - including the highly anticipated Jewell Well which is targeting the Sycamore formation.
The net prospective resource attributable to Brookside’s SWISH AOI.
“Resource demonstrates productivity”
Brookside managing director David Prentice said: “We are delighted to provide our shareholders and investors with details of the prospective resources attributable to our SWISH AOI holdings.
“This is a large resource in the context of our acreage position and market capitalisation and demonstrates the very high productivity of the Sycamore and Woodford formations in this highly sought-after part of southern SCOOP.
“The initial and sustained production results coming from wells drilled in the area by other operators have served to enhance our already high confidence in the producibility and economics of this area.
“The application of modern horizontal drilling and completion techniques in this area to exploit known sources of oil and gas is delivering enormous value to operators and we look forward to commencing operations on the Jewell Well and continuing the process of unlocking this value for our shareholders.”
The Sycamore-Woodford sub-play in southern SCOOP in very close proximity to some of the best wells drilled and completed in this area since its emergence as a focus for several of the tier-one independents.
Sycamore formation
The Sycamore formation is delivering outstanding sustained productivity in offsetting wells, including from the Casillas Operating LLC. operated Flash 1-8-5MXH well, which is around 3-miles west of the Jewell DSU (which has produced about 390,000 BOE in just eight months).
Jewell Well will be the first well in a potential 21-well, 5-year program to develop this large resource (both the Sycamore and Woodford formations) and access the significant net cash flow that will come from these DSUs.
The 21-well program would target both the Sycamore Formation (seven wells) and the Woodford Formation (14 wells) both of which are demonstrated to be highly productive in the SWISH AOI.