Drilling Preparations - 10,000ft Lateral Well in SWISH Play

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Stock Brookside Energy Ltd (BRK.ASX)
Release Time 6 Feb 2025, 8:58 a.m.
Price Sensitive Yes
 Drilling Preparations - 10,000ft Lateral Well in SWISH Play
Key Points
  • Commencement of operations for drilling of next well (Bruins Well) in SWISH Play
  • Expect to significantly increase Working Interest in Bruins Well to ~70%
  • Gross CAPEX for 10,000-foot lateral well estimated at ~US$11.0 million
  • Well expected to produce over 1 million BOE over its life
Full Summary

Brookside Energy Limited (ASX: BRK) is pleased to announce the commencement of operations for the drilling of its next well (Bruins Well) within the SWISH Play acreage in the Anadarko Basin, Oklahoma. This initiative marks the first of three planned wells in the Company's 2025 drilling program, underscoring Brookside's commitment to strategic growth and targeted development in this prolific hydrocarbon region. The Bruins Well is expected to spud before the end of February. Building upon the success of Brookside's previous operations in the SWISH Play which have collectively achieved cumulative production of 2.5 million barrels of oil equivalent (BOE) as of 31 December 2024, the Bruins Well aims to replicate the strong performance metrics observed in these earlier developments. As a result of the diligence and hard work of the land team, Brookside expects to significantly increase its Working Interest in the Bruins Well to a substantial ~70%, subject to the finalisation of various regulatory filings and processes. Gross CAPEX for this 10,000-foot lateral well that is targeting the Woodford Shale formation is estimated at ~US$11.0 million and the well is expected to produce over 1 million BOE over its life, with around 640,000 BOE (~53% liquids) produced in the first five years. Pre-spud activities, including pad selection, surface agreements, and regulatory approvals, have been successfully completed, and the all-weather drilling pad is currently under construction. The Company has also executed a drilling contract with Kenai Drilling, with drilling set to commence before the end of February.

Guidance

The Bruins Well is expected to produce over 1 million BOE over its life, with around 640,000 BOE (~53% liquids) produced in the first five years.