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Highlights
- Brookside Energy has generated US$4.3 million in revenue from its four new wells at the SWISH Project, with daily production reaching 3,900 BOEPD.
- The Field Development Master Plan (FMDP) is expected to produce 715,000 BOE in the first year, with projected revenue of US$70 million and net income of US$26.6 million for FY2025.
- Over the lifetime of the wells, Brookside anticipates generating US$164 million in revenue and US$58 million in net income from 2.1 million BOE in production.
Brookside Energy Limited (ASX:BRK) (OTC Pink: RDFEF) has reported a strong start from its recently drilled wells at the SWISH Project in Oklahoma’s Anadarko Basin, generating approximately US$4.3 million in revenue since flowback and testing commenced last month. The new wells are part of Brookside's Field Development Master Plan (FMDP), targeting the highly productive Sycamore Lime and Woodford Shale formations.
Key Production Milestones
The four newly drilled development wells have shown strong early performance, producing a combined daily output of 3,900 barrels of oil equivalent per day (BOEPD), with cumulative production reaching around 80,000 barrels of oil equivalent (BOE), 87% of which consists of liquids. These wells add to Brookside’s existing four reserve definition wells, further enhancing the Company’s overall output from the SWISH Project.
Among the four new wells, the three Sanford Pad wells — Fleury, Maroons, and Iginla — have been particularly noteworthy, producing substantial volumes of oil and gas. Approximately 75% of the lateral length of these wells is located within the Woodford Shale, a formation that typically takes longer to begin full production compared to the more fractured Sycamore Limestone. Despite this, early flowback and testing results from these wells have been promising.
The Rocket Well, a two-mile lateral drilled into the Sycamore formation, is also showing robust initial production during its flowback phase. Currently, around 6% of the fluid used during the stimulation process has been recovered, an indicator of the early stage of production.
Encouraging Results from Early Flowback
Brookside’s Managing Director, David Prentice, expressed optimism about the results, stating, “We are very pleased with the early results from flowback and testing of our first pad development in SWISH. The production rates we are seeing from both the Woodford Shale and Sycamore formations are very encouraging and speak to the quality of our acreage. Generating approximately US$4.3 million in gross revenue so early in the flowback and testing phase highlights the potential of these wells to deliver strong, sustained production over time."
The initial results affirm the productivity of the company’s assets in the SWISH Project, particularly as the Woodford Shale takes longer to clean up and reach peak production. The combination of early high revenues and strong production rates provides a solid foundation for future growth.
Future Projections and Revenue Expectations
The FMDP, which involves a multi-well drilling program targeting the Sycamore Lime and Woodford Shale formations, is expected to be a significant driver of growth for Brookside Energy. Brookside's four new wells include the three drilled from the Sanford Pad (Fleury, Maroons, and Iginla) and the Rocket Well, which was drilled from the Flames Well pad.
Based on the flowback and early sales figures, the FMDP is projected to produce 715,000 BOE (78% liquids) net to Brookside in its first year of operation. The program is forecast to contribute an average production of 2,300 BOEPD net to the company, leading to expected revenue of US$70 million and a net income of US$26.6 million in FY2025.
Over the lifetime of the wells, Brookside anticipates cumulative production of around 2.1 million BOE (60% liquids), generating total revenue of US$164 million, with a net income of US$58 million. These projections position the FMDP as a major component of Brookside’s long-term strategy, contributing significantly to the company’s sustained growth in production, revenue, and profitability.
