Brookside Energy Ltd (ASX:BRK)’s Rangers well is now producing 1,008 barrels of oil per day (BOEPD) in early flowback operations, with just 17% of the well’s stimulation fluid recovered to date.
The oil and gas well— the second in BRK’s held-by-production plan in Oklahoma’s Anadarko Basin — is expected to bring in substantial early revenue thanks to its ~80% oil production, as well as gas and natural gas liquids.
Already, the asset has generated around US$2.4 million in income as West Texas Intermediate pricing exceeds US$100 a barrel.
All up, Brookside’s Ranger’s well — in which it holds an 80% working interest — has produced around 27,417 barrels of oil equivalent (equal to 21,770 barrels of oil, plus gas and natural gas liquids) during early flowback.
Oil and gas sales will continue as flowback operations advance, and the company will report on Ranger’s peak, 30-day and 90-day flow rates as it reaches each milestone.
“Strong early performance”
Speaking to the results, Brookside managing director David Prentice said: “These are extremely pleasing early results from our second high-impact well in our SWISH AOI.
“We are delighted to see this strong early performance from our Rangers Well, with this oil-rich reservoir already delivering very significant volumes of oil during early flowback.
“These results once again confirm our team’s ability to identify very high-quality prospects and then monetise them through drilling, completion and ultimately production of oil and gas.
“We are looking forward to bringing further updates to our shareholders and investors on the Rangers Well’s performance over the coming weeks and months as well as updates on operations on our Flames Well, the completion of our HBP program in the SWISH AOI, and our forward plan.”
The Brookside team says Rangers’ production continues to increase in line with its modelled expectations for an oil-rich reservoir. Well production rates are projected to continue to increase for several months.
Bringing Rangers online
Rangers is operated by Brookside’s subsidiary, Black Mesa Energy.
The well was drilled to a total measured depth of around 17,460 feet, with roughly 7,500 feet of lateral section drilled in the Sycamore Foundation.
This was subsequently cased with production tubing, which was perforated and treated to allow oil and rich gas production.
In mid-April, commercial production commenced during the very early part of the flow-back and stimulation fluid recovery operations at the well.
Rangers’ end products have been sold into the spot market, with oil trucked to a nearby pipeline terminal and gas transported via pipeline to a gas processing plant.