Brookside’s high-impact Jewell Well has reached a peak rate (IP24) of1,800 barrels of oil per day while also achieving a peak oil rate of 973/bbl and a peak rich gas rate of 3,959 thousand cubic feet.
The Perth-based explorer focused on developing more than 20 wells over five years in the US state of Oklahoma’s world-class Anadarko Basin has achieved an IP30 of 1,604 barrels of oil equivalent per day average, as the price of crude oil continues to climb around the world.
The news comes as excitement continues to mount over the development of the Rangers Well, the company’s next planned well, part of the company’s development drilling program across its three operating development areas conservatively estimated to contain over 11.6 million BOE.
BRK said daily production is now steady at around 1,630 BOE accounting for a combination of production rate growth followed by steady-state production.
“The Jewell Well has provided an exceptional peak rate and IP30 number, but more importantly, the ongoing steady production continues to exceed expectations,” managing director David Prentice said.
“The ongoing strong production and resulting high revenue from the Jewell Well will serve as a strong base for our 2022 SWISH development plans which are currently being finalised.”
BRK’s Australian Stock Exchange-listed share was trading at 2.3, today (10:15 am UTC+ 8 hours)