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Brookside Energy eyes next cash pipeline in US

28 October 2021
ASX: BRK
Rueben Hale

The explorer has laid the groundwork for Rangers Well, the second of more than 25 oil-producing wells planned for its area of interest in Oklahoma’s prolific Anadarko Basin in the US.

Brookside’s oil play comes at a time of skyrocketing oil and gas prices worldwide.  Many traditional energy sources are unable to guarantee supply in a post-covid world, providing an opportunity for smaller players to benefit from prices expected to reach over US$93 a barrel by next year.

BRK is already supplying higher than expected volumes at Jewell Well while rapidly advancing toward its next sales line at Rangers.

The company said site preparations are on schedule in anticipation of the imminent arrival of the drill rig.

“It’s fantastic to see our operational momentum continue in the SWISH AOI with the completion of the all-weather pad on the Rangers drill spacing unit and equipment on-site getting ready to drill and set the conductor casing,” managing director David Prentice said.

“It is great to be breaking ground on our next well in Sycamore-Woodford in the South Half trend, fresh off the operational success and wonderful results we see from production from our Jewell Well, which is located just five miles to the east.

“We are very much looking forward to keeping our shareholders and investors updated with progress on operations from Rangers as we get underway.”

BRK’s Australian Stock Exchange-listed shares were trading at 2.5c (8:46 am GMT+ 8 hours).

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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