Brookside Energy开始钻探STACK Play首井

Brookside Energy Limited is pleased to provide an update on progress, as it’s wholly owned subsidiary BRK Oklahoma Holdings, LLC (BRK Oklahoma) continues to build a position in the core of the STACK Meramec Play (STACK Play) in Oklahoma.

BRK Oklahoma has elected to participate in its first horizontal well within its core STACK Play non-operated working interest leasehold acreage in Blaine County, Oklahoma. The Strack 1-2-11XH well, to be operated by Marathon Oil company (NYSE:MRO) (Marathon Oil) is permitted as an extended reach horizontal well with a total measured depth of 20,448 feet targeting the Meramec formation. BRK Oklahoma holds 12.5 acres in the relevant spacing unit. BRK Oklahoma’s share of estimated drilling and completion costs for this well are to be funded via the previously announced Drilling Joint Venture.

A current industry type curve for a single extended reach horizontal well delivers an EUR of 1,700 Mboe (58% oil) with 380 Mboe produced in the first 12-months. This well generates a pre-tax rate of return in excess of 70% at current pricing (based on an estimated completed well cost of US$9 million).

The Strack 1-2-11XH well is being drilled in an area where permitting and pooling by operators is at unprecedented levels with in excess of 180 pooling applications and orders (a pre-curser to the spudding of an individual well) active across Brookside’s area of interest in the core of the play.