Brookside Energy Ltd (ASX:BRK) is one step closer to drilling the high-impact Rangers Well in Oklahoma’s world-class Anadarko oil and gas basin.
The energy stock has secured a permit to drill from the Oklahoma Corporation Commission, meaning it’s on track to add a second well to its SWISH Area of Interest (AOI) portfolio after its pioneer Jewell well was spudded in May.
Once drilling gets underway, Rangers will be a multi-unit, horizontal Sycamore well.
The asset boasts a total measured depth of roughly 17,750 feet and has an average true vertical depth of around 9,300 feet.
With the key permit under its wing, Brookside continues to prepare the Rangers site for an incoming drill rig, which is expected to hit the deck imminently.
Next on the cards
As Rangers accelerates towards the spudding milestone, Brookside is primed to land the lion’s share of working interest.
The company’s controlled subsidiary, Black Mesa, has been appointed as Rangers’ operator, meaning Brookside is expected to pick up more than 80% in working interest.
Speaking to progress at Rangers in late October, Brookside managing director David Prentice said it was “fantastic” to see operational momentum continue in the SWISH AOI.
“It is great to be breaking ground on our next well in SWISH, fresh off the operational success and wonderful results we are seeing from production from our Jewell Well, which is located just five miles to the east.
“We are very much looking forward to keeping our shareholders and investors updated with progress on operations from Rangers as we get underway."
The bigger picture
Rangers is just one of three drill spacing units (DSUs) within its SWISH AOI acreage — a core holding within one of Brookside’s two oil and gas plays in the Anadarko Basin.
The energy stock is out to complete a five-year, 20-plus well development program over the SWISH property, centred on the Jewell, Flames and Rangers DSUs.
Brookside’s crowning asset is the Jewell well, which recently exceeded pre-drill estimates to hit a peak rate of roughly 1,800 barrels of oil per day.
It’s hoped the multi-year development strategy will help Brookside tap into what’s conservatively estimated as an 11 million net barrels of oil equivalent resource at the SWISH AOI.
