FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Brookside run with the wolves

28 September 2022 10:43
ASX: BRK

Brookside Energy has kicked off phase two of development drilling campaign in Oklahoma’s world-class Anadarko Basin and have secured its rig for the Wolf Pack Well.

With a trio of wells already pumping sales in the Sooner state, it marks the next great leap forward for a large inventory of proven low-risk and high-return development wells.

Wolf Pack will be Brookside’s fourth well in the basin and the second in the Rangers drilling spacing unit, holding the titular well which hit US$6.75 million dollars in revenue after only a month and a half of production.

Brookside’s faith in Anadarko has been validated over the past year, with three wells coming to fast-paced production and Flames Well notably producing at a commercial rate during very early flowback.

With what could be another company-making year underway, the company said the next phase of growth was underwritten by strong cash flows and balance sheet.

“We continue to stay nimble and focused on our ‘Three Pillars’ strategy for creating value with a multi-pronged approach to extracting maximum value,” managing director David Prentice said.

Brookside expects Wolf Pack to spud in early November, with pad works already underway.

BRK’s Australian Stock Exchange-listed share price has risen 16.67 per cent today, selling at 1.4c (10.15 am UTC+ 8 hours).

The Market Bull Logo

FREE DAILY STOCK MARKET NEWS

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

You have Successfully Subscribed!

Share This