FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Brookside Energy’s Strategic Contiguous Position in Woodford “Oil Window”

26 September 2023 10:18
ASX: BRK

Brookside Energy Limited (ASX:BRK) is actively expanding its acreage in the Woodford “Oil Window” of the SWISH Area of Interest (SWISH AOI) within the Anadarko Basin, demonstrating a strong commitment to harnessing the region’s oil and gas potential.

Mjja221XjLPnFfZH?auto=format%2Ccompress&fit=max&h=800&q=75&s=8b003e1c2838906d52007f981a9bcacf

Figure 1: Location map showing Brookside’s four operated SWISH AOI DSU’s, Continental Resources Courbet Wells full field development south of the Flames DSU and Continental Resources Gapstow Well south of the Bruins and Jewell DSUs.

Expanding and Consolidating Acreage

One of the standout achievements for Brookside Energy is its recent expansion of the acreage position in the core of the Woodford “Oil Window.”

The addition of approximately 400 gross acres represents a 12.5% growth in the Company’s holdings in this highly sought-after area, with this move strategically placing Brookside in a prime position to harness the immense potential of the Woodford shale, a prolific source rock for Oklahoma’s oil production.

Courbet Development as a Blueprint

Brookside’s optimism is bolstered by the promising early results emerging from the neighbouring Courbet development, owned by Continental Resources.

Several Courbet wells have demonstrated impressive initial production (IP) rates, with some surpassing 3,000 barrels of oil equivalent per day (BOEPD). These results provide Brookside with a valuable roadmap for the efficient development of its own liquids-rich reserves within the SWISH AOI.

The strategy involves deploying multi-well pads and simultaneously developing both the Woodford and Sycamore formations. This approach is poised to deliver substantial efficiencies in terms of production volumes and operational costs, a particularly enticing proposition given the recent strength in oil prices and the gradual normalisation of development costs.

VD0oSj3xRigI62hE?auto=format%2Ccompress&fit=max&h=800&q=75&s=f8beb48ac6341dcfa627e5961631ed28

Figure 2: Continental Resources Courbet Wells full field development showing the strong performance of both the Woodford wells (well names ending with HXW) and Sycamore wells (well names ending in HXM).

Progress with Drilling Spacing Units

Brookside Energy has made significant progress in securing approvals for its drilling operations within the Flames Drilling Spacing Unit (DSU).

This achievement is a pivotal step forward, clearing the way for future drilling and completion activities in this unit.

Furthermore, the approval of the Company’s filings to establish a 1,280-acre unit for the Bruins DSU, representing a 33% size expansion, reaffirms Brookside’s dedication to advancing its exploration and production initiatives in the SWISH AOI.

Continued Leasehold Acquisition

Brookside remains actively engaged in leasehold acquisition within the SWISH AOI.

Recent successes include the acquisition of additional acreage within the Jewell DSU, complementing the Company’s ongoing efforts in the Flames and Bruins DSUs.

Collectively, these endeavours have resulted in the creation of a contiguous block of 3,200 gross acres in the heart of this core area. Notably, this acreage expansion aligns with Brookside’s overarching strategy of securing valuable assets and expanding its presence in key areas of interest.

BRK’s Australian Stock Exchange-listed share price is currently selling at 1.2c (10.00 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