Brookside Energy Ltd (ASX:BRK) and Stonehorse Energy Ltd (ASX:SHE) have completed a successful workover of the Mitchell 12-1 Well which provides the Orion Joint Venture with another cashflow stream within the southern part of the SCOOP Play in Oklahoma's Anadarko Basin.
Formation fluid levels in the Mitchell well at the Jewell Drilling Spacing Unit in the SWISH AOI have continued to be lowered successfully and the well has now 'kicked-off'.
The company said gas sales had begun and the first load of oil was expected to be sold later this month.
Mitchell 12-1 Well is already cash flowing and rates of both oil and gas are expected to increase steadily as formation fluid levels are lowered.
Further updates will be provided when fluid levels have reduced sufficiently and ‘peak rates’ have been achieved.
Second of three successful acquisitions
The successful acquisition and workover of the Mitchell well is providing another important cashflow stream for the Orion Project JV as well as 'holding by production' key acres in the soon to be drilled Jewell DSU.
Mitchell Well is the second of three successful acquisitions completed so far under the JV, following the Newberry well acquisition.
Earlier in November Brookside provided an initial prospective resource estimate of 11.606 million net barrels of oil equivalent (BOE) for its holdings in the SWISH AOI.
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.
Managing director David Prentice said: “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.”