Just returned from a trip to the USA which included a side visit to Tulsa where I was able to visit the office and the field assets.
For an oil and gas nerd it was like being a kid in a candy store.
DAY ONE.... The office visit
Office lobby and board room in the background
View back to lobby ( tiled ) , more BRK office space behind lobby
Internal office pan left.
BRK has a very large office in the Tulsa CBD with room for more as we grow. Tulsa office space is in a long term glut so rent is small over a long 75 month contract.
Day in the office included a ~1.5 hour presentation by Chris Giourard, BRK landman and new ventures VP. presentation was on history of Oklahoma oil, how the OCC was set up with the brief of maximsing resource extration through leasing, DSU formamtion and permitting and forced pooling ( Oklahoma has the best, most equitable forced pooling ). Chris discussed how leases are sourced, originally with land agents visiting county records offices and viewing land ownership records physically. Post covid the digitisation of records has accelerated so a lot of discovery is done via computor rather than physical visits. Chris discussed how specialised land leasing companies are employed to search and negotiate on behalf of operators. How conflicts of interest are overcome where if company A employs a firm to conduct leasing, and company B approaches the same firm to lease in the same area, company B is turned down because of the conflict. Integrity is the most important part of long term business succes, because if a firm losses interity, it will find itslef without customers.
This applies to operators like BRK as well. If an operator doesn't pay bills on time, service companies won't work for them. If an operator doesn't pay it's royalties to land holders, the word spreads around the patch, and lease holders are reluctant to lease to them. It was fantastic to listen and chat to a real landman ( Landman is a great TV show but Billy Bob Thorton character is super human) and hear a lot of information about the nuances of the role.
The afternoon session was a 3 hour presentationby John Schumer, BRK reservior engineer, where we got into the geologic history of how the Woodford and Sycamore formations were formed, nitty gritty of how SWISH was found through desktop study , constant looking for new AOI's, the production history of the Sycamore andWoodford formations, horizontal drilling and fracking nuances, well design and planning , well curve predicitons vs outcomesetc , etc. Both presentations were thoroughly inspiring !
DAY TWO... The field trip
Arriving at the Jewell Location.
Chris Giourard
Jewell battery with 6 x 400 barrel tanks, 4 for oil and 2 for water.
Lee Francis ( VP operations .. has drilled over 1000 vertical wells and over 100 fracked horizontal well) ...left
Chris Giourard ...
David Prentice .. centre
Jewell well head with flow pipes
Battery with spill contaimement wall. The wind socks are a critical safety item for H2S gas leak.. you run into the wind. If you can smell H2S ( rotton egg gas) thats OK, if it's in leathal concentration you can't smell it.
Gas and water /sand seperators
Rangers well with John Schumer
FMDP pad with Fleury, Maroons and Iginla well heads... huge impressive pad with 3 times the facilities. Each well has its own 6 tank oil/ water battery, gas and water/ sand seperator
Maroons and Iginla closer up.
FMDP.. part of battery on the left, 3 gas seperators and water/ sand on the right
Looking though 18 tank battery to seperators
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