Brookside Energy Ltd (ASX:BRK)’s 'core of the core' Jewell Well is now producing at the highest pre-drill estimates, reaching an output of 1,727 BOE (barrels of oil equivalent) per day at an 82%:18% ratio of liquid to gas.
Jewell Well is in the SWISH area of interest (AOI) in the world-class Anadarko Basin, where the company is pursuing a potential five-year, 20-plus well development drilling program across its three operated development areas. Conservative estimates place the prospective resource’s potential at 11 million net BOE.
About a third of the stimulation fluid has been recovered to date with production increasing steadily.
Current rates of liquid production are reaching 1,413 per day (973 bbls oil, 440 bbls NGLs) and the company is expected to report peak rates (IP24) as well as IP30 and IP90 rates as the well achieves them.
“The Jewell Well continues its stellar performance exceeding all our expectations,” Brookside managing director David Prentice said.
“We could not be happier with its performance and are busy preparing for the spud of our second well. We look forward to keeping our shareholders and investors updated as we progress operations for the Rangers Well, the next high-impact well within our SWISH AOI.”
Brookside Energy is focused on developing oil and gas assets in the United States, especially its SWISH area of interest within Oklahoma’s ‘world-class’ Anadarko Basin.
The company has a ‘real-estate development’ approach to acquiring prospective acreage and plans to add value by consolidating leases and securing oil and gas reserves.
BRK’s recent $8.3 million capital raise has positioned it solidly to continue investing capital expenditure in its Jewell Well and SWISH prospective area of interest.
Read: Brookside Energy looks back on busy 2021 first half as Jewell Well enters production