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- Brookside Energy (BRK) and joint venture partner Stonehorse Energy (SHE) open in the green this morning after bumping up production at the US Jewell Well once again
- The well is now producing 1727 barrels of oil equivalent per day, made up of 82 per cent liquids and 18 per cent gas
- Brookside Managing Director David Prentice says the company is gearing up to spud a second well as Jewell continues to exceed expectations
- The Jewell well is part of Brookside’s SWISH area of interest in the wider SCOOP play of Oklahoma’s Anadarko Basin region
- Shares in Brookside are up six per cent at 2.7 cents each and shares in Stonehorse are up 4.35 per cent to 2.4 cents each at 10:53 am AEDT
Brookside Energy (BRK) and joint venture partner Stonehorse Energy (SHE) have opened in the green this morning after bumping up production at the US Jewell Well once again.
The well, which lies in Oklahoma’s Anadarko Basin region, is now producing 1727 barrels of oil equivalent per day, made up of 82 per cent liquids and 18 per cent gas.
This liquids production, which equates to 1413 barrels per day, has reached the high side of the joint venture partners’ pre-drill estimates. The liquids comprise 973 barrels of oil and 440 barrels of natural gas liquids (NGLs) per day.
For reference, Brookside reported last week the well had hit daily production of 1348 barrels of oil equivalent.
Brookside Managing Director David Prentice said the Jewell Well continued to exceed company expectations.
“We could not be happier with its performance and are busy preparing for the spud of our second well,” Mr Prentice said.
“We look forward to keeping our shareholders and investors updated as we progress operations for the Rangers Well, the next high-impact well within our SWISH area of interest (AOI).”
The SWISH AOI is part of the wider SCOOP Play in the Anadarko Basin.
According to Brookside, the SWISH area has an estimated 11.6 million net barrel-of-oil-equivalent prospective resource, though the company said this was a conservative estimate.
For the Jewell Well, roughly 32 per cent of the stimulation fluid has now been recovered, with production continuing to steadily increase, according to Brookside.
Brookside and Stonehorse each own 50 per cent of the well through joint venture entity Black Mesa Energy.
Shares in Brookside are up six per cent at 2.7 cents each and shares in Stonehorse are up 4.35 per cent to 2.4 cents each at 10:53 am AEDT.
