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Brookside Energy expands acreage position in Anadarko Basin as initial production results exceed expectations

Brookside has been able to secure a strategic holding in this area early in the cycle and at a modest cost, when acreage values had not yet begun to move higher.

Brookside Energy Ltd - Brookside Energy expands acreage position in Anadarko Basin as initial production results exceed expectations
The Anadarko Basin is a proven tier-one oil and gas development province

Brookside Energy Ltd (ASX:BRK) has secured two additional SWISH Area of Interest (SWISH AOI) units in the world-class Anadarko Basin in Oklahoma, US.

The company’s ongoing successful leasing, trading and high-grading activities have now delivered three Drilling Spacing Units (DSU’s) (Jewell, Rangers and Flames) in the core of the SWISH AOI.

Brookside managing director David Prentice said: “The addition of the Rangers and Flames DSU’s to the portfolio, alongside the Jewell unit, is a further material advancement of our strategy for unlocking value in the SWISH AOI in southern SCOOP.

“To put this in context, these three DSU’s combined are more than six-times the size of the acreage position we secured in our very successful pilot study in the STACK Play, 100-miles north along the Anadarko Basin margin.

The Rangers, Flames and Jewell DSU’s are all located in the core of the Sycamore-Woodford sub-play in southern SCOOP.

Notably, the Sycamore-Woodford sub-play has gone from a concept to ‘proof of concept' in a very short time.

Brookside, through the good work and diligence of its partner and manager of US operations, Black Mesa Energy, LLC has been able to secure a strategic holding in this area early in the cycle and at a modest cost, when acreage values had not yet begun to move higher.

Initial production results exceed expectations

Prentice added: “Initial production results from the Sycamore and Woodford formations in this area continue to exceed our internal pre-drill expectations and while it’s early days, this area looks to have the potential to be more productive than the core areas of the STACK Play.

“The Sycamore-Woodford sub-play in southern SCOOP continues to progress rapidly with drilling and completion activity in this area now accounting for 10% of the rig count in the Anadarko Basin.

“Several of the tier-one operators are active both in terms of M&A as well as drilling and completion activity.

“This is very exciting to see and augurs well for per-acre values as the area continues to mature.”

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ASX:BRK
Market: ASX
Market Cap: $5.02 m
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Full interview: Brookside Energy expands oil & gas acreage position in...

Brookside Energy Limited (ASX:BRK) managing director David Prentice speaks to Proactive about the recent acreage expansion in the Anadarko Basin of Oklahoma, USA. Two additional SWISH Area of Interest (AOI) Drilling Spacing Units (DSUs), Rangers and Flames, have been secured in the...

on 3/3/20

2 min read