BRK 0.00% 1.1¢ brookside energy limited

Project Orion - First Successful Workover

  1. 526 Posts.
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    The JV have nailed their first well with a 7x increase in production. Very promising!

    "This vertical well (completed in the Sycamore Formation) which was drilled on an 80-acre spacing unit, holds these acres by production (HBP Acres) i.e. no acreage term or further drilling obligations"

    "Black Mesa has subsequently completed a workover on this well to improve production. These
    successful operations resulted in a significant increase in daily production volumes (gas increased from 6Mcf/day pre workover to ~40Mcf/day and 2BOPD post workover)."

    "The well is now cashflow positive at the current STRIP pricing and importantly these operations have added proved oil and gas reserves, additional PV10 value and have significantly extended the wells producing life."
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