Brookside Commits US$11M to 10,000-Foot Bruins Well Targeting 1M+ BOE

• Drilling preparations commenced for Bruins Well in Anadarko Basin, Oklahoma
• Brookside expects to increase working interest to approximately 70%
• Gross CAPEX estimated at US$11 million for 10,000-foot lateral well targeting Woodford Shale
• Well forecasted to produce over 1 million barrels of oil equivalent (BOE) over its life
• Drilling contract secured with Kenai Drilling, operations to start before end of February

Brookside Advances 2025 Drilling Program

Brookside Energy Limited (ASX: BRK) has officially kicked off operations for its Bruins Well, the first of three wells slated for its 2025 drilling campaign in the SWISH Play of the Anadarko Basin, Oklahoma. This move signals the company’s intent to build on its prior success in the region, where cumulative production has already reached 2.5 million barrels of oil equivalent (BOE) as of the end of 2024.

The Bruins Well is designed as a 10,000-foot lateral targeting the Woodford Shale formation, a prolific hydrocarbon-bearing zone. Brookside anticipates spudding the well before the close of February, with gross capital expenditure pegged at approximately US$11 million. The well’s production profile is robust, with expected output exceeding 1 million BOE over its productive life, including around 640,000 BOE in the first five years, of which roughly 53% is liquids.

Strategic Increase in Working Interest

One of the standout aspects of this development is Brookside’s expected increase in working interest to about 70%, pending regulatory approvals. This enhanced stake reflects the company’s confidence in the asset’s potential and its commitment to maximizing shareholder value through greater operational control and revenue participation.

Pre-spud preparations have been thorough, encompassing pad selection, surface agreements, and securing necessary regulatory clearances. The all-weather drilling pad is currently under construction, positioning the company well for a timely start to drilling activities.

Operational Continuity with Experienced Partners

Brookside has engaged Kenai Drilling, the contractor behind its recent successful four-well FMDP program, to execute the Bruins Well drilling. This continuity in operational partnerships is likely to streamline execution and mitigate risks associated with new contractors, reinforcing Brookside’s disciplined approach to development.

Managing Director David Prentice emphasized the significance of this milestone, highlighting the company’s strategic focus on inventory growth and low-risk, high-impact drilling opportunities within the SWISH Play. The company’s approach underscores a balance between aggressive growth and prudent capital deployment.

Looking Ahead

While the Bruins Well is the first step in Brookside’s 2025 drilling agenda, its success could set the tone for the remaining two wells planned this year. The company’s prior achievements in the Anadarko Basin provide a solid foundation, but as always, actual production and reserves outcomes will depend on drilling results and market conditions.

Investors and analysts will be watching closely as Brookside progresses through drilling and begins to report results, which will offer clearer insights into the well’s performance and its contribution to the company’s overall production profile.

Bottom Line?

Brookside’s Bruins Well launch marks a pivotal moment in its 2025 growth strategy, with production and working interest gains poised to reshape its Anadarko Basin footprint.

Questions in the middle?

• Will the Bruins Well meet or exceed its forecasted production of over 1 million BOE?
• How will the increased working interest impact Brookside’s financials and operational flexibility?
• What are the timelines and expected outcomes for the subsequent two wells in the 2025 drilling program?