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Brookside Energy moves a milestone at Rangers Well

13 December 2021

ASX:BRK

Jack Baker
Oil Well, mining

The spudding, a drilling process in the oil and gas industry, marks the passing of a critical milestone towards Brookside’s second cash flowing well, part of the company’s 20-plus well development within its area interest in the world-class oil and gas basin.

With the energy explorer’s first well in the state producing over expectations, BRK is eying production for early in the new year, with the first well in the Rangers direct spacing unit utilising a new and more powerful rig for more extended lateral drilling.

The Perth-based company has set up shop in one of the US’ most historic energy-producing regions. The Anadarko basin comprises 130,000 square kilometres of Oklahoma, Colorado, Kansas, and the Texas panhandle.

The spudding occurred on the evening of 11 December Oklahoma time by Kenai rig 18 after completing rig-up and equipment testing.

The well is currently drilling ahead in the vertical section, and the company will provide weekly operational reports on progress throughout the campaign.

Operations over the last 24 hours

· Laying out the drill string.

· Making up the bottom hole assembly.

· Installing the measurement while drilling the tool and making up the drill bit. 

The momentum is set to intensify next year with Flames, the third well, located at a yet to be finalised location with the Flames DSU.

Multiple future well locations of two prolific producing formations are also being finalised.

BRK’s Australian Stock Exchange-listed price has risen 5.56pc, currently trading at 1.9c (8:49 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.

COMPANY INFORMATION

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