{"id":12149,"date":"2024-07-11T03:50:20","date_gmt":"2024-07-11T03:50:20","guid":{"rendered":"https:\/\/economicherald.net\/?p=12149"},"modified":"2024-07-11T03:50:20","modified_gmt":"2024-07-11T03:50:20","slug":"brooksides-wolf-pack-well-pays-out-in-just-13-months","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=12149","title":{"rendered":"Brookside\u2019s Wolf Pack well pays out in just 13 months"},"content":{"rendered":"<p>Special Report: Brookside Energy\u2019s Wolf Pack Well has paid out within a short 13 months of starting production, with all drilling and completion costs now fully recovered.<\/p>\n<p>The latest positive news for one of the few ASX companies in the North American oil and gas sector<strong>\u00a0<\/strong>comes despite the well being drilled during a period of peak drilling and completion costs.<\/p>\n<p>The Wolf Pack Well delivered gross sales volumes of ~424,000 barrel of oil equivalent in its first 13 months of operation, generating revenues of over US$21 million for the same period at an average realised price of US$50\/BOE.<\/p>\n<p>Along with the Jewell and Rangers wells, this is <a href=\"https:\/\/stockhead.com.au\/?s=BRK\">Brookside Energy\u2019s (ASX:BRK)<\/a> third well to pay out, with all others also paying out in 13 months \u2013 or much less in the case of Jewell Well with six months\u2019 payout and Rangers Well at seven months.<\/p>\n<p>Brookside puts the very rapid payout down to Wolf Pack\u2019s excellent production rates and high liquids yields of approximately 79% over the period.<\/p>\n<p>Wolf Pack Well reached a peak rate (at IP24 rating) of 2034 BOE per day (88% liquids, 12% gas) and an IP30 rate of 1869 BOE per day (88% liquids, 12% gas), both record rates for a Brookside operated well.<\/p>\n<p>The well is Brookside\u2019s fourth in the <a href=\"https:\/\/stockhead.com.au\/resources\/oklahoma-brooksides-new-development-play-to-boost-production-and-reserves\/\">SWISH Area of Interest<\/a> (AOI) in the southern SCOOP Play within <a href=\"https:\/\/stockhead.com.au\/uncategorized\/rock-yarns-brookside-energy-hard-at-work-in-the-anadarko-basin\/\">Oklahoma\u2019s prolific\u00a0Anadarko Basin<\/a>.<\/p>\n<p>Managing Director, David Prentice said: \u201cWe are delighted to report on this impressive milestone for the Wolf Pack Well.<\/p>\n<p>\u201cAchieving payout in just 13 months is a remarkable achievement and is even more noteworthy given that it was accomplished during a period of peak drilling and completion costs.<\/p>\n<p>\u201cThe exceptional initial and sustained production rates, coupled with strong liquids yields, have driven these results and this is testament to the quality of our SWISH AOI acreage and the great work of our team and service providers to identify, secure and then efficiently develop these very high quality reserves.<\/p>\n<p>\u201cThis success once again underscores our commitment to delivering significant value to our shareholders and investors as we move into full field development of our SWISH AOI acreage.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Profits set to gush<\/strong><\/h2>\n<p>Today\u2019s news comes less than a month after research house MST Access initiated coverage on Brookside Energy with a valuation at almost 5x its current share price.<\/p>\n<p>While <a href=\"https:\/\/stockhead.com.au\/energy\/oh-what-a-beautiful-mornin-brookside-to-treble-output-and-boost-net-income-via-full-field-development-at-swish-in-oklahoma\/\">already generating strong profits and operating cashflows<\/a>, MST expects Brookside\u2019s profits to grow to almost $40m as soon as FY26.<\/p>\n<p>MST noted Brookside\u00a0is sitting among a rare cohort of junior resources and energy plays generating a healthy profit, which a production uplift is likely to bolster in the years ahead.<\/p>\n<p>Stuart Baker of MST valued BRK on an NPV basis at 5.7c\/share, 375% up on its current trading price of 1.2c.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Brookside Energy, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/energy\/brooksides-wolf-pack-well-pays-out-in-just-13-months\/\">Brookside\u2019s Wolf Pack well pays out in just 13 months<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Special Report: Brookside Energy\u2019s Wolf Pack Well has paid out within a short 13 months of starting production, with all drilling and completion costs now <a href=\"https:\/\/economicherald.net\/?p=12149\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":12150,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-12149","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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