BRK rides high in Oklahoma
Brookside Energy completes Bruins Well stimulation safely, on time and within budget
Preparations are now underway for flow-back and testing at Brookside's ninth well in Oklahoma's SWISH Play acreage
The Australian junior expects initial production and sales from Bruins this quarter as planned
Special Report: Brookside Energy has successfully completed stimulation operations at its Bruins Well as it prepares for flow-back, testing, and initial production and sales.
Brookside Energy (ASX:BRK) is continuing it run of success in Oklahoma's prolific Anadarko Basin with the Bruins Well stimulation operations finished safely, on time and within budget.
Preparations are now underway for flow-back, and testing and first sales are on track for this quarter from Brookside's ninth well in the SWISH Play acreage.
The company says the high-intensity fracture stimulation of the Woodford Formation, located in the southern half of SCOOP (South Central Oklahoma Oil Province), was executed with 42 stages, all of which were successfully completed.
Significant step in SWISH
Managing director, David Prentice said: 'We're very pleased to have safely and efficiently completed stimulation operations on the Bruins Well, on time and on budget.
'Bruins represents another important step in the development of our SWISH Play acreage. With flow-back now imminent and first sales on track for this quarter, we look forward to this well contributing to cash flow and further validating the quality of our acreage.'
'I'm immensely proud of the team for the care and diligence they continue to demonstrate in delivering these projects safely, on schedule and within budget.'
Prentice added that Bruins represented a key step in unlocking the full potential of Brookside's Bruins Drilling Spacing Unit (DSU), and the company is focused on achieving optimal production and cash flow from the well in the near term.
Highly encouraging for Brookside is that real-time monitoring during the operations confirmed that each stage effectively stimulated the reservoir, with pressures, sand and fluid volumes aligning with the company's pre-completion design.
The plugs which served as check valves to provide zonal isolation during the high-intensity multi-stage stimulation of the well have been successfully drilled out and production tubing has been installed.
Well placed in market
The latest news from Bruins confirms Brookside's reputation as a smart operator in the American oil and gas sector.
The company has low operating costs of only ~$9 per barrel of oil equivalent (BOE), a strong cash position and plus 2P net reserves at 12.35 million barrels of oil (MMBO), giving the resilience to withstand the current choppy conditions in the market.
Prentice has said that even if Brookside stopped drilling after Bruins and prices stayed low for the next five years, the company would still generate more cash flow than its current cap during that time.
'Best of all, our oil and gas reserves would still be in place ready to develop when prices rebound,' he said.
This article was developed in collaboration with Brookside Energy, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Originally published as Brookside Energy rides high in Oklahoma
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