FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Brookside caps off spudding at Flames Well

14 March 2022

ASX:BRK

Jack Baker

With crude oil floating around US$110 a barrel, Brookside Energy has leveraged an ever blackening bottom line by spudding Flames Well –the third planned well – in the company’s SWISH AOI in the US state of Oklahoma.

Crude oil has increased by more than US$31/bbl or by over 41 per cent since the beginning of 2022, providing a source of additional capital enabling expedited work programs for Flames and Rangers Well.

Flames is the longest laterally to date, comprising around 10,000 feet of the Anadarko Basin, a proven energy hub touching into four southern states.

The company said the simultaneous operations across Flames and Rangers powershifted the company into the busiest phase in its seven-year history.

“It is very pleasing to see operations proceeding so promptly on this well, the final well in our Held-by-Production program in the SWISH AOI,” managing director David Prentice said.

Brookside will expedite plans of over twenty wells across its area of interest in the Sooner state.

BRK’s Australian Stock Exchange-listed price was trading at 2.4c today (6.26 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

Company Announcements & Stock Information
Click here

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!