How Brookside’s new oil play could be a major step up
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Special Report: Brookside Energy has identified a step change growth opportunity with potential to generate significant reserve value.
US partner Black Mesa has prepared an estimate for the SWISH opportunity, a new area of exploration for Brookside (ASX:BRK) pointing to more than 50 proved undeveloped well locations for the area.
Big US listed independents Newfield Exploration (NYSE:NFX) and Continental Resources (NYSE:CLR) who are developing acreage adjacent to SWISH are showing more aggressive estimates with spacing densities that could more than double Black Mesa’s conservative 50-well estimate.
NFX and CLR are also reporting type curves and EURs of between 1.6 million and 2.7 million barrels of oil equivalent per well for the area.
Brookside and Black Mesa have identified an 8000 acre “operated position” within an area of interest that includes at least 10 drilling units in SCOOP, an oil and gas play on the Eastern edge of the prolific Anadarko Basin.
This new focus area has been named “SWISH”.
Brookside has leased about 10 per cent of the 8000 acres so far.
The target reservoirs in the new SWISH play, Woodford Shale and Sycamore Lime, are already being successfully exploited by tier-one independent oil companies.
“We are very pleased to have positioned ourselves to take advantage of this company making opportunity in the SCOOP play,” said managing director David Prentice.
“The excellent single well economics and Estimated Ultimate Recoveries for both the Woodford Shale and Sycamore type wells will provide excellent catalysts for very significant per-acre value growth as the acreage is developed and results from the large independents active in the area come to hand.”
The Woodford Shale has gross thicknesses ranging from 340 feet to 500 feet, and is recognised as the organic rich, oil and gas prone source rock for the entire Anadarko Basin.
The Sycamore Lime, which sits directly above and in contact with the Woodford Shale, is a conventional tight limestone reservoir that has been drilled extensively over several decades using vertical drilling.
Sycamore thicknesses range from 320 feet to greater than 380 feet.
This special report is brought to you by Brookside Energy.
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