Brookside Energy Ltd (ASX:BRK) continues to enhance its considerable stake in Oklahoma's world-class Anadarko Basin by expanding its strategic contiguous position in the Woodford 'Oil Window'.
The company has expanded and consolidated its acreage position in the core of the prized ‘Oil Window’ in the SWISH Area of Interest (AOI) of the basin’s southern SCOOP Play with the addition of approximately 400 gross acres.
This grows Brookside’s acreage position by 12.5% in this area where Continental Resources has returned highly encouraging early results from its Courbet development.
In Woodford shale
Brookside’s new acreage is adjacent to and north of Continental’s successful Courbet wells (full field development) and its Gapstow well.
This strategic contiguous acreage is in the highly sought-after Woodford shale, which is the source rock for a substantial proportion of Oklahoma’s production.
Brookside’s four operated SWISH AOI DSUs, Continental Resources’ Courbet Wells full field development south of the Flames DSU and Continental’s Gapstow Well south of the Bruins and Jewell DSUs.
On fast-track
The company intends to move quickly to map out next steps for the monetisation of this acreage and the liquids-rich reserves that it hosts.
There was in excess of 1,500 BOEPD net to Brookside produced from the SWISH AOI in the June quarter of 2023, with production continuing to grow.
Success for neighbours
Providing strong encouragement for the company and its new acreage are the early results from the neighbouring Courbet development, which include numerous wells with IPs above 2,000 BOEPD and several above 3,000 BOEPD.
These provide a road map for the optimal development of Brookside’s liquids-rich reserves in the SWISH AOI , with multi well pads and simultaneous development of the Woodford and Sycamore formations potentially delivering material efficiencies in recoveries and costs.
The results and Brookside’s expanded position come at an ideal time with oil prices strengthening over the last three months and development costs beginning to normalise.
Continental Resources' Courbet Wells full field development showing the strong performance of both the Woodford wells (well names ending with HXW) and Sycamore wells (well names ending in HXM).
Approvals progress
Also, recent progress in the Oklahoma Corporation Commission (OCC) has enhanced the company’s position with initial approvals required for the development of the Flames Drilling Spacing Unit (DSU) moved forward.
Brookside said this was a major step in clearing the way for future drilling and completion operations to be conducted within this unit.
Acreage grows
Filings to create a 1,280-acre unit for the development of the company’s Bruins DSU have also been approved by the OCC, resulting in a 33% increase in the size of this DSU.
The company also continues to actively acquire acreage within the SWISH AOI, with additional acreage being acquired within the Jewell DSU.
This success, combined with activity in the Flames and Bruins DSUs, has delivered a contiguous block of 3,200 acres (gross) in the heart of this core area.
This is in addition to the Rangers DSU that hosts the company’s highly successful Sycamore wells, in the Rangers and Wolfpack.