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Brookside’s Juanita Aces Production Testing

20 July 2023 10:37
ASX: BRK
BRK Flames Online

Brookside Energy’s Juanita Well demonstrates its potential to be a strong addition to the Company’s Oklahoman oil inventory, with a recent successful production testing recording a peak production rate of 258 Barrels of Oil Equivalent Per Day (78% Oil).

Moving Towards Production

The successful program tested a secondary target within the highly productive Simpson Group, following up on a previous production test of a lower zone which delivered an outstanding peak test production rate of 329 BOEPD and an average rate of 174 BOE.

With such promising results from both zones, Brookside has now appointed Black Mesa Energy LLC to begin planning optimised development scenarios with the two zones, anticipating that production will commence focused on these zones while it plans to test remaining opportunities in the near future.

These two zones are of the ten being targeted by Juanita, with both being located within the Simpson group which boasts an average cumulative production from vertical wells of ~130 MBO.

Looking Towards the Horizon

When brought online, Juanita will be Brooksides’ first well within its Bradbury area of interest, with its portfolio of record-breaking high-impact, low-cost wells all being located in the Sooner States’ renowned Anadarko Basin.

Oklahoman exploration has already been a proven success for Brookside, with the Company’s current operational Flames, Ranger, Jewell and Wolfpack Wells delivering the Company a “transformational” previous year, bringing in $53 million annually from a massive 613,533 barrels of oil equivalent (BOE) produced.

The Company said its team is now working on a plan to establish commercial production from these two zones.

“We are once again pleased to report these very encouraging test results from our Juanita Well, our first well in this new AOI. These results come on the back of the earlier positive results from the test of the deeper primary target,” Managing Director David Prentice said.

“The team are now busy working on the plan to establish commercial production from these two zones and we look forward to providing further updates as production and sales are established.”

BRK’s Australian Stock Exchange-listed share price is currently trading at 1.4c (10:04 am UTC+ 8 hours).

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