Brookside Energy Ltd (ASX:BRK) has continued the strong flow of news from operations in the SWISH Area of Interest (AOI) in Oklahoma’s world-class Anadarko Basin with the high-impact Rangers 36-25 SXH 1 Well achieving sustained production.
Production from Rangers, which is Brookside’s second well in the SWISH AOI, is stabilising in line with the company’s modelled reservoir performance, achieving 1,200 BOE per day average monthly stable production.
By the end of June, the well had produced ~82,000 BOE (87% liquids) and delivered a peak oil rate of 952 barrels per day and a peak rich gas rate of 2,126 Mcf per day (including 270 barrels per day of natural gas liquids).
“Another fantastic result”
Managing director David Prentice described the update as “another fantastic result for Brookside and its shareholders.
"This well has not only performed exceptionally with significant production and associated revenue, but it has also proven up the very significant yet to be developed oil and gas resource in this DSU,” he said.
Based on Brookside’s current production and pricing forecast, the Rangers Well is expected to achieve well bore payout late this quarter.
“Strong platform” for growth
“Rangers Well production and revenue, combined with production and revenue from our Jewell Well, and upcoming sales from our Flames Well, forms a very strong platform for the next exciting growth stage for the company,” Prentice said.
This signals “our emergence as a significant ASX-listed oil and gas producer with a large inventory of proven low-risk high-impact development locations to be monetized”, he added.
About Rangers
The Rangers Well is operated by Black Mesa Energy, a controlled subsidiary of Brookside, and was drilled by Kenai Drilling Company in Stephens County, Oklahoma.
It was drilled as a mid-length horizontal well targeting the Sycamore Formation at an average depth of ~9,750 feet.
The well was drilled to a total measured depth of ~17,460 feet, with ~7,500 feet of lateral section drilled in the Sycamore that was subsequently cased with production tubing to be perforated and treated to allow production of oil and rich gas.