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BROOKSIDE ENERGY LIMITED - Corporate Spotlight

Brookside has established deep and valued relationships in the oil and gas sector over... Brookside has established deep and valued relationships in the oil and gas sector over the last 10 years through its successful activities in the industry focused in Oklahoma in the US. Brookside’s goal is to build value per share through a disciplined portfolio approach to the acquisition and development of producing oil and gas assets and the leasing and development of acreage opportunities.More

Corporate Spotlight

Brookside has established deep and valued relationships in the oil and gas sector over the last 10 years through its successful activities in the industry focused in Oklahoma in the US.
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BRK MOBILISES RIG TO JEWELL WELL

BRK MOBILISES RIG TO JEWELL WELL

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Brookside Energy (ASX:BRK) mobilises rig to Jewell Well

ASX:BRK
Brookside Energy (ASX:BRK)- Managing Director, David Prentice - The Market Herald
Managing Director, David Prentice
Source: The Market Herald

  • Brookside Energy (BRK) has begun mobilising a rig ahead of drilling the Jewell Well in the Anadarko Basin in Oklahoma
  • Pre-mobilisation inspection, testing and maintenance work has been completed on the rig, and it's expected to arrive on-site early next week and to spud the well on May 1, 2021
  • In the meantime, ancillary and support equipment, as well as accommodation, are being installed
  • The Oklahoma Corporation Commission has issued a permit for well to be drilled into the Sycamore formation to a depth of around 4.5 kilometres
  • Brookside's subsidiary Black Mesa has been named the operator

Brookside Energy (BRK) has begun mobilising a rig ahead of drilling the Jewell Well in the Anadarko Basin in Oklahoma.


Pre-mobilisation inspection, testing and maintenance work has been completed on the company's contracted rig, Latshaw Drilling Rig 14. Latshaw is expected to arrive on-site early on April 26, 2021 and to spud the well on May 1, 2021.


"We are thrilled to be on the cusp of spudding this highly anticipated well, which has the potential to unlock enormous value for the Company and set us on a path to hold all of our Drilling spacing unit in the SWISH area of interest by production," said CEO David Prentice.


In the meantime, Brookside is working with several other service providers to install ancillary and support equipment, as well as accommodation.


The Oklahoma Corporation Commission has issued a permit for well to be drilled into the Sycamore formation, to a depth of around 4.5 kilometres. Brookside's subsidiary Black Mesa has been named the operator.


"The Black Mesa and Latshaw Drilling teams are working closely to safely and efficiently accelerate the drilling operations and we are looking forward to keeping our shareholders and the market updated as drilling progresses and we move though to completion operations and ultimately to the production of oil and gas from this well," David added.


Read the Full Article on The Market Herald here

BRK PREPARES TO DRILL JEWEL WELL

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Brookside Energy (ASX:BRK) prepares to drill Jewell well

Energy

ASX:BRK   
Brookside Energy (ASX:BRK) - Managing Director, David Prentice (right). - The Market Herald
Managing Director, David Prentice (right).

  • Brookside Energy (BRK) is one step closer to drilling the high-impact Jewell well
  • The company has now completed the construction of the all-weather multi-well pad and access road
  • Additionally, the hole for the conductor casing has been drilled and 75 feet of a 20-inch conductor casing has been set
  • The drill rig chosen for the program is preparing to be mobilised to the well, located in the Anadarko Basin, Oklahoma
  • Just before the market opens, Brookside is trading at 2.9 cents per share

Brookside Energy (BRK) is one step closer in drilling the high-impact Jewell well.


The well form parts of the Brookside's wider SWISH area of interest in the Anadarko Basin, located near Oklahoma City.


The company is currently preparing the well for drilling and has now completed the construction of the all-weather multi-well pad and access road.


A well pad refers to an area of land that has been cleared of all trees and other obstacles and designated for natural gas or oil extraction.


Brookside's subsidiary, Black Mesa, cleared a 137-square-metre area and covered the land in around 2700 tonnes of crushed limestone to ensure it remains operational in all weather conditions.


The oil and gas explorer began the construction of the drilling pad in March.


Additionally, the hole for the conductor casing has been drilled, and 75 feet of 20-inch conductor casing has been set.


Earlier this month, Brookside assigned leading U.S. drill contractor Latshaw Drilling to carry out the drilling program at the project.


The drill rig intended for the program is currently being prepared to be mobilised to the well.


Just before the market opens, Brookside is trading at 2.9 cents per share.


To read the full article on The Market Herald click here. 

JEWELL OPERATIONS DRILLING RIG SECURED

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Brookside Energy (ASX:BRK) assigns contractor to drill Jewell

Energy

ASX: BRK

1 April 2021 10:30



  • • Brookside Energy (BRK) has assigned a leading U.S. drill contractor to carry out the drilling of the Jewell Well, located in     the Anadarko Basin
  • • BRK's subsidiary, Black Mesa Energy, signed the agreement with Oklahoma-based Latshaw Drilling Company 
  • • Black Mesa will supervise the drilling by Latshaw, which plans to drill Jewell using its own Latshaw Rig 14
  • • The drill rig will be sent to the Carter County area as soon as possible, where pad works are nearing completion
  • • Shares in BRK have opened trading at 2 cents per share




Brookside Energy (BRK) has assigned a leading U.S. drill contractor to carry out the drilling of the Jewell Well.


The well forms part of Brookside's wider SWISH area of interest (AOI) in the Anadarko Basin, while the well itself is located near Oaklahoma City.


The energy company's subsidiary, Black Mesa Energy, will oversee the work being carried out by the Latshaw Drilling Company.


The drilling operator will supply its own Latshaw Rig 14 to carry out the drilling at Jewell.


BRK said the big rig more than meets the time and budget specifications required to drill Jewell.


Latshaw's drill rig is currently 140 miles away from the Jewell Drilling Spacing Unit (DSU) but will be sent to Carter County as soon as possible.


"We have been fortunate to have observed the work of Latshaw’s rigs and their high-quality people and equipment operating on the ground drilling horizontal wells in the SWISH AOI," Brookside Managing Director David Prentice said.


"[We] look forward to working with them on this well and as we move forward with the development of our DSU’s in the future," he explained.


Brookside also advised that pad works at the site are nearing completing.


Shares in Brookside Energy have opened Thursday's trading session steady at 2 cents per share.


Read the full article on The Market Herald here

JV TO EXPAND OKLAHOMA PORTFOLIO

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Joint Venture to Expand Oklahoma Portfolio Responding to the Macro Opportunity

ASX Release 10th June 2020


Perth, Western Australia – June 10, 2020 - Brookside Energy Limited (ASX:BRK) (Brookside) and Stonehorse Energy Limited (ASX: SHE) (Stonehorse), together, (the Companies), are very pleased to announce the formation of a new Joint Venture (Orion Project) which will enable the Companies to exploit opportunities to acquire producing oil and gas properties in the world-class Anadarko Basin, Oklahoma.


HIGHLIGHTS

  • ●  The Orion Project is a 50/50 joint venture between the Companies, with Brookside’s subsidiary, Black Mesa Energy, LLC responsible for identifying, acquiring and operating the properties on behalf of the joint venture1

  • ●  The joint venture will target natural gas weighted, mature long-life production assets with very low terminal decline and upside that can be unlocked from remedial workover activity and/or unexploited or underexploited behind pipe or deeper productive zones

  • ●  The Orion Project offers significant scalability, with the initial focus area extending over 1,100 square kilometres in the Anadarko Basin, covering several historic and currently producing oil and gas fields and many hundreds of vertical wellbores

  • ●  Work has commenced on the Orion Project, with the Black Mesa Energy team analysing comprehensive data sets covering the focus area to refine and identify acquisition opportunities – discussions have commenced on several targets already

  • ●  The current macro environment has created a unique opportunity to acquire producing properties in an area that we know extremely well at a time in the cycle when prices are below the incentive price for aggressive development



Commenting on the announcement, Brookside Managing Director, David Prentice said:

“We are delighted to be partnering with Stonehorse on this new venture. This time in the commodity price cycle is presenting some fantastic opportunities and we are extremely well positioned to take advantage of this and to continue to grow our asset base within the SWISH AOI.


“The Black Mesa team has been working hard over the last several weeks sifting through an enormous amount of data looking for the best opportunities and I’m excited to report that this work is already delivering up targets to pursue.

“This is going to be a very exciting initiative for us and we look forward to keeping our shareholders and the marker updated as we progress it.”


1 Black Mesa will receive an 18.75% Working Interest Back in After Payout on assets acquired pursuant to the Orion Project Joint

Venture in accordance with the terms of the Acquisitions Program Agreement between BRK Oklahoma Holdings, LLC and Black Mesa Energy, LLC.


RESPONDING TO THE MACRO ENVIRONMENT

Recent global events that have impacted demand for oil and gas, together with the supply side tensions between the OPEC+ nations have resulted in sharply lower commodity prices. This has created a significant opportunity for companies that are able to respond to this macro environment.


The current price environment has seen a dramatic drop in the level of drilling and completion activity across the US basins (including the Anadarko Basin). This reduction in activity is likely to have a lasting impact on future US oil and gas production and help to quickly restore the apparent supply demand imbalance, putting upward pressure on prices.

In particular we see natural gas prices being a very strong beneficiary of this recovery with some commentators calling for much higher prices later this year and into 2021 and beyond.


This environment has created a unique opportunity to acquire producing properties in an area that we know extremely well at a time in the cycle when prices are below the incentive price for aggressive development.


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Figure 1. US Liquids Production Growth Source EIA, Raymond James Research


JOINT VENTURE STRUCTURE AND KEY METRICS

The Orion Project is a 50/50 joint venture between Brookside Energy Limited and Stonehorse Energy Limited, with Brookside’s subsidiary Black Mesa Energy, LLC responsible for identifying, acquiring and operating the properties on behalf of the joint venture.

The joint venture participants have committed to an initial combined investment in the Orion Project of US$500,000 with the opportunity to expand this commitment as the joint venture grows.


The joint venture will be acquiring producing properties and the associated “Held by Production” acreage, with an emphasis on natural gas weighted production from mature vertical wells with very low terminal decline and substantial remaining economic life.

The producing properties will be cashflow positive at the current Forward Strip pricing, with upside that can be unlocked from remedial workover activities or from unexploited or underexploited behind pipe or deeper productive zones.


JOINT VENTURE OBJECTIVES

The joint venture will acquire a portfolio of operated, long-life producing wellbores with upside that can be unlocked through low-cost, low-risk workovers (see Figure 2. below). The Companies aim to build out this portfolio at a low point in the commodity price cycle and then add value through operational execution.


The ultimate objective is to grow this asset base to complement our existing asset base and leasehold acreage within the SWISH AOI and to increase both operating cashflows and reserves.


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Figure 2. Anadarko Basin Vertical Well Workover Scenario


Read the full ASX Release Here

ORION PROJECT INVESTOR DECK

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BROOKSIDE ENERGY'S ORION PROJECT INVESTOR DECK

ASX Release 10th June 2020



View the full Presentation Here

SENIOR EXECUTIVE APPOINTMENT

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Senior Executive Appointment

Perth, Western Australia – 6 August 2020 


Brookside Energy Limited (ASX: BRK) is pleased to announce the appointment of a senior executive to the management team.


Gracjan Lambert has joined the Company as Executive General Manager Commercial, working alongside Managing Director, David Prentice. Gracjan’s role extends across strategy, business development, commercial activities, and corporate affairs.


Gracjan has had over 23 years' technical and commercial experience in the international oil and gas industry including having worked for Total in Aberdeen and ExxonMobil in Houston. This included five years working as Commercial Advisor for ExxonMobil, leading negotiations and conducting commercial analysis of prospective acquisitions across a wide portfolio. 


Gracjan holds a PhD in Geophysics and has extensive experience in joint venture relationships and commercial management, together with economic evaluation of both conventional and unconventional projects on-shore in the US. Gracjan joined the Company on the 3rd of August 2020.


Commenting on the announcement, Brookside Managing Director, David Prentice said:

“We are extremely pleased to have Gracjan join Brookside at this time. His appointment will bring considerable experience and energy to our team as we continue to execute our forward plan. We remain focused on strategically strengthening our position in the SWISH AOI, and broadening our portfolio with attractive opportunities that complement our long- term business strategy in the Anadarko Basin.


“Gracjan will be working closely with the Board and the team at Black Mesa and we are delighted that he has agreed to join our group, particularly at this time when we are seeing so much opportunity to build on the exciting asset base we have already secured in Oklahoma.”


Read the full ASX Release here: https://hotcopper.com.au/threads/ann-senior-executive-appointment.5540828/#post-46389715

BROOKSIDE ADVANCE ANADARKO BASIN PROJECT

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Brookside Energy Progresses Anadarko Basin Activities in Q3 

Brookside Energy (ASX:BRK) progresses Anadarko Basin activities in Q3


  • Brookside Energy (BRK) has updated the market on its activities at the Anadarko Basin during the third quarter of 2020

  • During the quarter, the company's joint venture project with Stonehorse Energy (SHE), the Orion Project, closed its second purchase and scored a third one just after the quarter closed

  • Oil and gas production and sales continued during the quarter, with net volumes of 10,634 barrel of oil equivalent (BOE), which is equivalent to around 116 BOE per day

  • Cash flows from operating activities for the quarter include $69,000 cash receipts from sales

    Brookside Energy (BRK) has updated the market on its activities at the Anadarko Basin during the third quarter of 2020. Anadarko Basin

    The Anadarko Basin is centred over the western part of Oklahoma and is considered a "Tier One" oil and gas development region.

    Over the past six years, there has been a focus on two world-class oil and gas plays STACK (Sooner Trend, Anadarko Basin, Canadian and Kingfisher Counties) and SCOOP (South Central Oklahoma Oil Province).

    The SWISH AOI is an area of interest for Brookside and is located in the core of the SCOOP Play, it was found and named by the company's U.S. partner, Black Mesa Energy.

    Brookside now has interest in 50 wells, targeting the productive formations of the Anadarko Basin in both STACK and SCOOP.
    Orion Project Joint Venture

    In June, Brookside and Stonehorse Energy (SHE) formed a joint venture, the Orion Project, to purchase oil and gas plays in Anadarko.

    During the quarter, the Orion Project, closed its second purchase - Mitchell 12-1 Well. The Mitchell Well is located in the Jewell Drilling Spacing Units (DSU) in the SWISH AOI.


    Pumping unit installed on the Mitchell WellSource: Brookside

    The Mitchell Well is drilled on an 80-acre spacing unit and completed in the Sycamore Formation.

    After the quarter ended, Brookside announced a third acquisition - Thelma 1-32 well, which is currently waiting on workover.
    Production and cash flow

    Oil and gas production and sales continued during the quarter, with volumes coming from a mix of drilling joint venture wells and Brookside funded wells.

    The company reported net volumes of 10,634 barrels of oil equivalent (BOE), which is equivalent to around 116 BOE per day, during the quarter.

    Cash flows from operating activities for the quarter include $69,000 cash receipts from sales. Outflows for the quarter of $370,000 which included expenses for leasehold acquisitions, joint interest billings, drilling, production and administrations costs.

    In September the company raised $1.6 million via a capital raise at 0.5 cents per share.

    At the end of the quarter, the energy stock had $1.5 million cash in hand.

    On market close for the weekend, Brookside is in the grey and trading for 0.6 cents per share.

BRK MOBILISES RIG TO JEWELL WELL

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Brookside Energy (ASX:BRK) mobilises rig to Jewell Well



Brookside Energy (ASX:BRK): Jewell Operations Drilling Rig Secured



Brookside Energy (ASX:BRK) secures Stonehorse Energy as Jewell Well development partner




David Prentice, Brookside Energy and The Market Herald - Investor Updates - November 2020



David Prentice, Brookside Energy on The Market Herald Dealroom - Discussing fundraising and BRK - September 2020





Investor Updates with David Prentice, CEO Brookside Energy - August 2020





Investor Updates with David Prentice, CEO Brookside Energy - July 2020





Investor Updates with David Prentice, CEO Brookside Energy - 26th June 2020









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