Brookside Energy Ltd (ASX:BRK) continues to record strong oil & gas production rates at its high-impact Jewell well in Oklahoma’s Anadarko Basin, with daily production reaching 1,348 barrels of oil equivalent (BOE).
The company released an update on Jewell on Tuesday, revealing that production is increasing as flow-back and fluid recovery operations continue.
Brookside managing director David Prentice was pleased the company had passed the key 1,000 barrels-per-day mark, as the company exceeded pre-drill estimates.
“The Jewell Well continues to perform above our pre-drill expectations and these are clearly world-class results that reflect the quality of the reservoir in this particular part of the Anadarko Basin,” he said.
“As a team, we have demonstrated that we can execute across all disciplines from prospect generation, and acreage acquisition through drilling and completion and finally to successful flowback and sales of oil and gas.”
Prentice added that oil and liquids-rich gas production was expected to continue to increase steadily beyond these early rates over the coming weeks, with Brookside to report peak 24-day, 30-day and 90-day rates as these milestones were achieved.
The well forms part of the ASX-lister’s five-year, 20-plus well development strategy, which centres on bringing oil and gas assets online within its ‘core of the core’ landholding in Oklahoma’s Anadarko Basin.
The latest results come very soon after Brookside’s cornerstone oil and gas asset entered production, kicking off oil and gas sales in what management heralded as “a major milestone”.
To date, the Jewell Well has produced approximately 14,800 barrels of oil and 29,500 Mcf of liquids-rich gas.
The oil is trucked to a nearby pipeline terminal, while the gas travels through a pipeline to an LP gas processing plant to stimulate sales.