Brookside Energy Ltd (ASX:BRK) (OTCMKTS:RDFEF) is making strong progress on the high-impact Jewell 13-12-1S-3W Well in the SWISH area of interest within the Anadarko Basin of the US with the completion of pre-mobilisation inspection, testing and maintenance works on the contracted rig.
Operations to mobilise the rig to Brookside’s now completed, all-weather multi-well pad on the Jewell DSU have begun and the rig is scheduled to arrive on location on April 26.
Once on location the rig will be set up and go through pre-drill start-up testing procedures prior to spudding.
On cusp of spudding
Managing director David Prentice said: "We are thrilled to be on the cusp of spudding this highly anticipated well, which has the potential to unlock enormous value for the company and set us on a path to hold all of our DSUs in the SWISH AOI by production.
“The Black Mesa and Latshaw drilling teams are working closely to safely and efficiently accelerate the drilling operations and we are looking forward to keeping our shareholders and the market updated as drilling progresses and we move through to completion operations and ultimately to the production of oil and gas from this well.”
Brookside’s Jewell Well will be the first company-operated well to be drilled and completed in the Jewell DSU in the SWISH AOI of Oklahoma's world-class Anadarko Basin.
Importantly, this well is the first in a potential five-year, 20-plus well development drilling program across the three operated DSUs (Jewell, Flames, Rangers) that the company controls in the SWISH AOI to develop a conservatively estimated 11,606,000 net BOE prospective resource1 (best estimate, un-risked).
Targeting Sycamore formation
The Jewell Well will be targeting one of two primary producing formations in the SWISH AOI, the Sycamore formation that continues to deliver strong sustained productivity in nearby offsetting wells.
To date, the Casillas Operating, LLC operated Flash 1-8-5MXH well (located ~3-miles west of the Jewell DSU) has produced ~580,000 BOE in about 19-months, considerably higher than Brookside’s conservative estimate for the Jewell Well.
Commissioning ancillary and support equipment
The company is working with various service providers on the installation and commissioning of various ancillary and support equipment required for drilling operations, including tanks for storage.
Brookside also advises that the Oklahoma Corporation Commission has issued a permit for the drilling of the Jewell Well as a multi-unit horizontal Sycamore well with measured total depth of around 14,755 feet (about 4.5 kilometres) and true vertical depth of 7,440 feet (2.3 kilometres).
The company’s-controlled subsidiary Black Mesa has been named as operator and the rig is from Latshaw Drilling.
Brookside shares have been as much as 15% higher this morning to A$0.026 on volume of more than 58.8 million.