Brookside Energy Limited (ASX: BRK) has achieved a significant milestone with the successful establishment of commercial oil production in the Juanita Well, signifying a promising advancement within its expanded Bradbury Area of Interest (AOI) in the Arbuckle Uplift – Ardmore Basin, Oklahoma.
A Promising Commencement
The Juanita Well’s production success stems from the effective utilisation of the Simpson Group, a prolific oil-bearing formation known for its rich hydrocarbon reservoirs.
The Well’s production strategy involves the simultaneous extraction of oil from two distinct sands within the Simpson Group, with the result being an initial peak production rate of 130 Barrels of Oil Per Day (BOPD), showcasing the Well’s substantial potential.
As the Well continues to clean up and stabilise, its average production rate has settled at 112 BOPD over the last five days, with this modest reduction from the peak rate a common characteristic during the initial phases of production as the reservoir stabilises and the flow of fluids is optimised.
To ensure the reservoir’s long-term performance and maximise oil recovery, fluid movement is being carefully managed through the size of the pumping unit, with this strategy allowing for the fine-tuning of production parameters to achieve an optimal balance between production rates and reservoir health.
Figure 1: Surface Facilities for the Juanita and Thelma Wells
Positioned within Brookside Energy’s Bradbury Area of Interest (AOI), the Juanita Well stands as a crucial component, drilled vertically by Dan D Drilling Rig 7 and operated through Black Mesa Energy, LLC, a subsidiary under Brookside’s control.
With a vertical depth of around 6,350 feet, this Well is strategically designed to access ten potential oil reservoirs, encompassing zones within the prolific Simpson Group.
The success of the Juanita Well marks a crucial advancement in Brookside’s overarching strategy, emphasising the current focus on two commercially viable zones while also underlining the Company’s long-term intention of conducting thorough tests on the remaining oil reservoirs targeted by the Well.
David Prentice, Managing Director of Brookside, expressed his enthusiasm for the early results from the Juanita Well and the implications for the future.
“With commercial production now established from these two zones, we are looking forward to gathering more data that will guide us in terms of next steps for this exciting new area of interest,” he noted.
BRK’s Australian Stock Exchange-listed share price has risen 8.33% and is currently trading at 1.3c (11.05 am UTC+ 8 hours).