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).