Brookside Energy Ltd (ASX:BRK) is preparing to bring its second high-impact well in the SWISH Area of Interest (AOI) — an exploration portfolio in Oklahoma’s world-class Anadarko Basin — into production.
Cudd Energy Services has rigged up at the site and is set to commence the multi-stage hydraulic stimulation at Brookside’s Rangers well over the next fortnight.
Now, the oilfield services firm will carry out “plug and perforate” activities at Rangers, starting at the toe of the well.
All work to date has been carried out safely and without incident.
Watch: Brookside Energy riding oil price highs as it accelerates drill program in the Anadarko Basin
Commercialising Rangers
Speaking to the progress at Rangers, Brookside managing director David Prentice said: “It is a wonderful time to be bringing our second high impact operated well in the SWISH AOI into production.
“The Cudd Energy Services crew, our Black Mesa team and our team of highly credentialed consultants are ready to undertake this final step to complete the well and begin flowing it back and then turning it to sales.
“All of the surface production facilities are in place, and we look forward to providing further updates as the completion process is concluded and flow back commences.”
The story so far
Rangers represents just a small piece of an oil and gas opportunity in the Anadarko Basin.
In May 2021, Brookside kicked things off with drilling at the Jewell well — the first in a five-year, 20-plus well development program centred on Brookside’s three owned and operated drill spacing units (DSUs).
All three tenements — known as the Jewell, Rangers and Flames DSUs — sit within the AOI, the epicentre of one of two oil and gas plays where Brookside’s interest lies.
With much of the activity over 2021’s first half centred on Jewell, attention has since turned to the second target in Brookside’s development strategy: the Rangers well.
In July last year, the oil and gas explorer secured further acreage in the Anadarko Basin, acquiring land next to the Rangers DSU and expanding its ‘core of the core’ holding in the tier-one region.
Then, just a few weeks later, Brookside announced a $9 million capital raise to fund the Rangers well’s development.
Fast forward to today, and Rangers is piqued to be the second well in the SWISH AOI to enter production.
But Brookside already has its eye trained on the third well in the SWISH trifecta.
The Flames asset is currently in development, with the same drill rig that completed Rangers in 31 days, is expected to also drill this third well.
BRK moved to accelerate the drill program amid some of the highest oil and gas prices seen in a decade.
The Flames drill program is fully funded to completion after the company picked up a $7.5 million funding runway from CPS Capital Group.
Notably, Brookside’s working interest in the Flames well is expected to double that in the Jewell well at more than 80%, with the associated doubling in production share and revenue.