Brookside Energy Ltd (ASX:BRK) is set to complete a key milestone for its SWISH area of interest (AOI) in Oklahoma, US, as it brings the third and final well for its Held by Production (HBP) program online and begins the process of production and sales.
With this program of development complete, Brookside’s subsidiary and exploration partner Black Mesa Energy LLC will now embark on a ramping-up of permitting and pre-drill planning activities in preparation for the first suite of wells from the company’s inventory of low-risk, high-impact development wells.
Brookside has lodged increased density and location exception applications with the Oklahoma Corporation Commission (OCC) for a horizontal Sycamore Well to be drilled within the Jewell Drilling Spacing Unit (DSU) and similar applications are being prepared for the Rangers DSU.
“Tremendous milestone for the business”
“The completion of our SWISH HBP program is a tremendous milestone for the business and our shareholders, marking the culmination of a plan that was conceived more than four years ago when we first started leasing in this area,” Brookside Energy managing director David Prentice said.
“We now find ourselves at the centre of a play that is developing very rapidly and delivering outstanding results in terms of production and sales at a time when commodity prices are at decade highs.
“The runway of low-risk extremely high return development wells that we have ahead of us is exciting and we look forward to keeping shareholders and investors updated as we move into this next phase of growth for the business.”
The first in this suite of development wells, the Ruby Well, will be drilled in the east half of the Jewell DSU.
Pre-drill activities have already begun, including the selection of a surface location, identification of routes to gas sales markets and scheduling of services (drilling and completion).