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Brookside Flame onto completions

4 May 2022 12:25
ASX: BRK

Brookside Energy has appointed Producers Service Corp to supply and operate equipment and personnel for Flames Well completion works in the US state of Oklahoma’s world-class Anadarko basin under the supervision of Brookside subsidiary Black Mesa.

Brookside is pursuing accelerated development, increasing production as prices settle beyond US$100 a barrel, with Flames to become the third well to come into production by the middle of the year.

The operational milestone is critical in the area’s highly anticipated revaluation process – proving up a large inventory of high quality (high impact) and very low-risk development wells.

The company – maintaining an 80 per cent stake in all wells – has caught the attention of other industry players with its disciplined rollout of wells.

It will also accelerate future development plans with additional wells for the second half of 2022 amid declining US crude oil stocks.

BRK’s Australian Stock Exchange-listed share price was trading at 21c today (11: 58 am UTC+ 8 hours).

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