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Brookside prepares for Ranger’s spudding

2 December 2021

ASX:BRK

Jack Baker

The final pieces are falling into place at Brookside’s Rangers well in Oklahoma as the energy explorer updates its investors ahead of the much-anticipated spud date.  

While it has been a wild ride for energy stocks recently, the low-cost energy developer is moving ahead with its Rangers well, the next in its ambition 20-plus well-development plan for the lucrative southern half of the basin. 

Mobilisation of the Kenai rig to the well’s drilling spacing unit was the primary item, scheduled to begin within days, with the first surface hole drilling set for the following week.  

Meanwhile, the installation of ancillary and support equipment has been arriving on site, including water and drilling fluid storage tanks and housing for personnel and equipment.   

BRK focused on exploitation, not exploration, said it disciplined it remains committed to a disciplined approach of acquiring and developing oil and gas assets and leasing and developing acreage opportunities.  

“The company’s US subsidiary and manager of operations, Black Mesa, is an experienced mid-continent operator, which identifies opportunities and executes development for Brookside,” the company said.  

“Our business model effectively assigns risk and provides commercial incentives to maximise value for both parties.” 

BRK’s Australian Stock Exchange-listed price has risen 5.26 per cent today, trading at 2c (8:59 am UTC+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.

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