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Brookside Flames burning bright

4 August 2022
ASX: BRK
Tim Cornish

Brookside Energy have kicked off commercial oil and gas production from the Flames Well during very early flowback — marking the milestone completion of its held by production program in its Oklahoma end of the world-class Anadarko energy basin.

Sales of the well’s premium light sweet crude oil and liquids rich gas have already begun in significant and increasing daily volumes.

Now holding a trio of wells flowing sales into a high-priced energy market, it widens the door for ambitions to produce over a score of sites in the Sooner state.

The company said with Flames completed, it could embark on extracting maximum value from the large inventory of proven low-risk, high-return wells.

“The establishment of commercial production on our Flames Well is a fantastic achievement on its own, but when combined with the now sustained strong production from our other two very successful SWISH AOI wells it marks the achievement of a company making milestone,” managing director David Prentice said.

With the Flames drilling spacing unit now classified as held by production, it paves the way for Brookside to establish the proved developed and undeveloped reserves within.

BRK’s Australian Stock Exchange-listed share price has risen 6.67 per cent today, selling at 1.6c (11.02 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

ASX: BRK

Website

https://brookside-energy.com.au/
https://www2.asx.com.au/markets/company/brk

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