- Oil and gas explorers Brookside Energy (BRK) purchases further land for its SWISH Area of Interest (AOI), located in the Anadarko Basin, Oklahoma
- The new purchase will increase the SWISH AOI average by 13 per cent with the majority of this land near the Rangers drilling space unit
- The purchase will provide an opportunity to significantly improve the economics of the soon to be drilled Rangers Well
- Just before the market opens, Brookside last traded at 2.6 cents per share
Brookside Energy (BRK) has purchased further land for its SWISH Area of Interest (AOI), located in the Anadarko Basin, Oklahoma.
The oil and gas company has been aiming to add additional acreage in the “core of the core” of the Sycamore Woodford Trend in the southern SCOOP play.
Currently, Brookside has three existing drilling spacing units (DSU) in the SCOOP play — Jewell, Rangers and Flames.
The new purchase will increase the SWISH AOI average by 13 per cent with the majority of this land is near the Rangers DSU.
Brookside said this purchase will provide the opportunity to significantly improve the economics of the soon to be drilled Rangers Well.
Managing Director David Prentice was pleased to bring this news to shareholders.
“The Black Mesa team continues to make great progress across all three pillars of the business, including with our Jewell Well operations but also importantly on our land and leasing efforts within the SWISH AOI,” Mr Prentice said.
“This acquisition is a credit to the team and will have a very positive impact on our future development plans for the Rangers Well and on our reserves of oil and gas, our cashflows and on future acreage values for this project.”
Earlier this month, Brookside completed constructing the facilities required to accommodate the production from Jewell.
The well tank battery and separators have been set on location and plumbed in, ready to receive oil, gas and associated natural gas liquids.
Just before the market opens, Brookside last traded at 2.6 cents per share.