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- Brookside’s (BRK) Jewell Well exceeds pre-drill estimates in early flow-back
- The well in Oklahoma’s Anadarko Basin is producing 1238 barrels of oil equivalent per day, with 22 per cent of stimulation fluid recovered so far
- BRK expects oil and gas production to increase steadily over the coming weeks
- Shares last traded at 2.8 cents on September 23
Brookside Energy (BRK) says its Jewell Well in Oklahoma has exceeded pre-drill estimates during early flow-back.
Jewell is located in BRK’s SWISH Area of Interest (AOI) in the Anadarko Basin and has reportedly recorded a daily production rate of 1238 barrels of oil equivalent, being 85 per cent liquids.
Notably, Brookside said the well was still in the early stages of flow-back and fluid recovery, with around 22 per cent of stimulation fluid having been recovered.
The company is expecting oil and gas production to increase steadily over the coming weeks, above pre-drill estimates and in line with its modelled flow-back trajectory.
Commenting on the news, Brookside’s managing director David Prentice said he was delighted to report the early performance of the well.
“These are extremely encouraging results and to be exceeding our pre-drill estimated flow rates at this early stage of the flow0back process is a strong indicator of the future economic performance of our maiden operated well in the SWISH AOI,” he said.
“We are looking forward to bringing further updates on the well’s performance as we move forward and achieve a peak rate and ultimately IP30 and IP90, which are important milestones in terms of our key metrics or rate of return and time to payout”.
Shares last traded at 2.8 cents on September 23, 2021.
