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- Oil and gas explorer Brookside Energy (BRK) says production from its Jewell Well in Oklahoma is ramping up
- Production from Jewell Well has hit 1348 barrels of oil equivalent per day, up from the 1238 barrels per day reported in late September
- Managing Director David Prentice says Jewell Well continues to perform above Brookside’s pre-drill expectations
- Brookside is planning to potentially drill over 20 wells in the SWISH area of interest over a five-year drilling program
- Shares in Brookside Energy are trading 1.92 per cent up at 2.7 cents each at 11.48 am AEDT
Oil and gas explorer Brookside Energy (BRK) has told shareholders this morning that production from its Jewell Well in Oklahoma is still ramping up.
The company said as flow-back and fluid recovery operations continued, daily production from the Jewell Well reached 1348 barrels of oil equivalent per day, made up of 83 per cent liquids and 17 per cent is gas.
For reference, Brookside said on September 24 the well was producing 1238 barrels of oil equivalent per day.
The Jewell Well lies in Brookside’s SWISH area of interest (AOI) in Oklahoma’s Anadarko Basin, which forms part of the company’s wider SCOOP Play in the area.
Brookside Managing Director David Prentice said the Jewell Well was the company’s first operated well in the SWISH area of interest.
“The Jewell Well continues to perform above our pre-drill expectations, and these are clearly world-class results that reflect the quality of the reservoir in this particular part of the SCOOP Play in the Anadarko Basin,” Mr Prentice said.
“As a team, we have demonstrated that we can execute across all disciplines from prospect generation, and acreage acquisition through drilling and completion and finally to successful flow-back and sales of oil and gas.”
He said the results underpinned the company’s plans to develop its “core of the core” position in the SWISH area.
Looking ahead, the company said it expected oil and liquids-rich gas production to continue to steadily increase beyond the early rates currently being recorded.
So far, roughly 25 per cent of the stimulation fluid in the Jewell Well has been recovered.
Brookside is planning to potentially drill over 20 wells in the SWISH area over a five-year drilling program to develop what it has called a “conservatively estimated” 11.6 million net barrels of oil equivalent prospective resource.
Shares in Brookside Energy were trading 1.92 per cent up at 2.7 cents each at 11.48 am AEDT. The company has a $78 million market cap.
