Join our daily newsletter At The Bell to receive exclusive market insights
- Brookside Energy (BRK) produces over 40,000 barrels of oil equivalent in just one month from its Wolf Pack Well in the Anadarko Basin, Oklahoma
- Since early flow-back began 30 days ago, the company says daily production rates have exceeded 1500 barrels of oil equivalent and continue to rise
- Of the 40,000 barrels of oil equivalent produced to date, 80 per cent is oil plus gas and natural gas liquids, resulting in early revenue of US$2.5 million (A$3.7 million)
- Oil and gas sales will continue with flow-back operations, and Brookside plans to report the peak rate as well as OP30 and IP90 rates as achieved
- BRK shares are up by 9 per cent and trading at 1.2 cents at 12:19 pm AEDT
Brookside Energy (BRK) has produced over 40,000 barrels of oil equivalent in just one month from its Wolf Pack Well in the Anadarko Basin, Oklahoma.
Since early flow-back began 30 days ago, the company said daily production rates had exceeded 1500 barrels of oil equivalent and were continuing to rise with around 24 per cent of stimulation fluid recovered.
Of the 40,000 barrels of oil equivalent produced to date, 80 per cent is oil plus gas and natural gas liquids.
The production has resulted in early revenue of US$2.5 million (A$3.7 million).
Brookside Managing Director David Prentice said the early results were “extraordinary” and the company was delighted to report strong production and sales numbers.
“The productivity of this well further cements our SWISH AOI acreage as world-class and underscores the very significant value that we have now built in the large inventory of low-risk high-return proved undeveloped locations within our acreage position that are available to monetise,” Mr Prentice said.
Oil and gas sales will continue with flow-back operations, and the company plans to report the peak rate as well as IP30 and IP90 rates as achieved.
Wolf Pack is Brookside’s first development well after completing the Held-By-Production drilling program across its three operated Drilling Spacing Units.
BRK shares were up by 9 per cent and trading at 1.2 cents at 12:19 pm AEDT.
