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BRK ready to ride at Rangers well

9 December 2021 10:03
ASX: BRK

Brookside has mobilised its latest rig in anticipation of imminent spudding at Rangers well in the US state of Oklahoma’s world-class Anadarko Basin.

Long eyed as the second energy explorer’s targets in the Sooner state after its older brother, the Jewell well, lived up to its namesake and exceeded expectations as a valuable pipeline for the company.

Somewhat hidden away from the geopolitics of the world’s oil-producing nations, smaller companies like Brookside have been simply able to hum along and produce black gold for a seller’s market.

The Perth-based explorer might not be a minor player for much longer, with Ranger’s prepped and committed plans underway to develop more than 20 Oklahoma wells in five years.

Long recognised as being among the topmost oil and gas regions, the Anadarko region’s 129 active drill rigs are only second behind neighbouring Texas’ Permian basin. Ranger’s will continue to receive rig equipment, set in the rig, and start pre-spud testing and commissioning operations ahead of its expected spudding next week.

BRK’s Australian Stock Exchange-listed price has risen 5.56pc today, currently trading at 1.9c (9:00 am UTC+8 hours)

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