logo-loader

Brookside Energy increases working interest in the SWISH AOI as activity ramps up in the region

Published: 00:02 28 Jan 2021 GMT

The Sycamore and Woodford formations continue to deliver sustained productivity in nearby offsetting wells.
The Sycamore and Woodford formations continue to deliver sustained productivity in nearby offsetting wells.

Brookside Energy Ltd (ASX:BRK) (OTCMKTS:RDFEF) has successfully pooled the 80-acres ‘held by production’ (HBP) associated with the Mitchell Well at low cost in the SWISH Area of Interest (AOI) in the SCOOP play in the world-class Anadarko Basin.

This pooling (which amounts to around 9% of the Jewell DSU) also extends to the Jewell well for no additional cost to the company and is a significant addition to Brookside’s already large controlling working interest in the Jewell DSU.

In addition, the sustained production from Sycamore and Woodford formations in nearby offsetting wells are considerably higher than predicted by Brookside’s Jewell well type curve – which was deliberately very conservative in estimating the potential Jewell well production rate, economics and volume of recoverable resource.

“Material uplift for Jewell Well”

In the Sycamore formation the Casillas Operating LLC. operated Flash 1-8- 5MXH well (around 3 miles west of the Jewell DSU) has produced about 465,000 barrels of oil equivalent in around 12 months.

In the Woodford formation the Continental Resources Inc. (NYSE:CLR) operated Courbet 1-27-22XHW well (around 1 mile southwest of the Jewell DSU) has produced about 258,000 barrels of oil equivalent in around 9 months.

Brookside managing director David Prentice said: “The performance of these two offsetting wells and the wells drilled in the general SWISH AOI confirms a material uplift from our conservative pre-drill estimates for the Jewell well.

“This will have a very positive impact on our previously reported 11,606,000 net barrels of oil equivalent (BOE) Prospective Resource for the SWISH AOI and materially increase the value of the well inventory we have established in the SWISH AOI.

“The quality of the reservoirs (Sycamore and Woodford) in the SWISH AOI is world-class and the recent uptick in drilling and completion activity is evidence of the high rates of return that are generated even at today’s strip price.”

SWISH activity map showing the location of Brookside DSUs

Increased activity in the region

Activity in the SWISH AOI is again increasing post the decline in activity witnessed during 2020.

Camino Natural Resources LLC is permitting a well in the DSU around 1 mile west of the Rangers DSU and Cheyenne Petroleum Company has mobilised a drill rig about 2 miles west of the Rangers DSU.

The increasing activity combined with the latest production numbers and Brookside’s conservative approach bodes well for the company’s pipeline of 21 wells to be drilled in the next 5 years - and the development of the 11,606,000 net barrels of oil equivalent prospective resource attributable to the Jewell, Flames and Rangers DSUs.

New capital allocation framework positions Ecora firmly for Energy...

  Ecora Resources PLC (LSE:ECOR, TSX:ECOR, OTCQX:ECRAF) CEO Marc Bishop Lafleche discusses the company's transition away from its Kestrel royalty and its impact on the company's 2023 financials, highlighting periods of variable mining activity within the orchestral royalty area. In an...

1 day ago