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Brookside appoints first-class operator to complete Jewell Well

21 July 2021
ASX: BRK
Rueben Hale
tock market concept with oil rig in the gulf and oil refinery industry background,Double exposure

Brookside Energy Limited has appointed a tier-one US oil services giant to maintain the company’s socially responsible approach with final works of its high-impact Jewell Well in Oklahoma’s world-class Anadarko Basin.

The news is yet another milestone in the Perth-based company’s five-year, 20-plus well drilling program across the company’s controlled Jewell Well, Flames and Rangers development areas, conservatively estimated to hold more than the equivalent of  11.6 million barrels of oil.

The company said Denver-based Liberty Oilfield Services, a company focused on driving environmental, social and governance compliant objectives,  are expected to finalise works amidst the arrival of equipment and personnel in the coming weeks, with production and sales to follow soon after.

“We are delighted that we have been able to secure the services of Liberty to complete the Jewell well, they are a leading oilfield services company that shares the values that Brookside and [its controlled subsidiary]  Black Mesa hold around safe and efficient operations and employee alignment to deliver the very best results possible,” managing director David Prentice said.

“Liberty’s experience in the mid-con region, focus on ESG principles and commitment to excellence will help to ensure that we get the very best out of the Jewell well as we complete this last important step in bringing this much anticipated well online and turning it to sales.”

Under the agreement, Liberty, with its largest low-emission fleet in the market, will supply and operate the equipment and personnel to complete the Jewell Well under the supervision of the Black Mesa team.

Meanwhile, The Market Bull also understands that Brookside sees clear sight to maintain its momentum with Rangers Well, located about eight kilometres from Jewell Well, aiming to have its stack flaring by the end of the year.

Brookside’s Australian Stock Exchange-listed share had risen 4 per cent in early trade, at 2.6c.

COMPANY OVERVIEW

Brookside Energy Limited is an Australian publicly held company listed on the Australian Securities Exchange (ASX:BRK). The Company was reinstated to official quotation on the ASX on 5 August 2015, following completion of the Company’s recapitalisation. Brookside has established deep and valued relationships in the oil and gas sector over the last 10 years through its successful activities in the industry focused on the mid-continent region of the United States. Brookside’s goal is to build value per share through a disciplined portfolio approach to the acquisition and development of producing oil and gas assets and the leasing and development of acreage opportunities.

COMPANY INFORMATION

ASX: BRK

Website

https://brookside-energy.com.au/
https://www2.asx.com.au/markets/company/brk

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